BBBY Bull Ken Griffin’s 5 Favorite Stock Picks

3. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 252    

Amazon.com, Inc. (NASDAQ:AMZN) is a diversified technology firm with core interests in e-commerce. Latest 13F filings show that Citadel owned over 4.7 million shares of Amazon.com, Inc. (NASDAQ:AMZN) worth $507 million at the end of the second quarter of 2022. The company has featured in the Citadel portfolio, with minor breaks, since the fourth quarter of 2010. 

On August 17, Morgan Stanley analyst Brian Nowak maintained an Overweight rating on Amazon.com, Inc. (NASDAQ:AMZN) stock with a price target of $175, noting that a fee increase from the firm was a positive signal of confidence. 

Among the hedge funds being tracked by Insider Monkey, London-based investment firm Citadel Investment Group is a leading shareholder in Amazon.com, Inc. (NASDAQ:AMZN), with 66 million shares worth more than $7 billion. 

In its Q2 2022 investor letter, Alphyn Capital Management, an asset management firm, highlighted a few stocks and Amazon.com, Inc. (NASDAQ:AMZN) was one of them. Here is what the fund said: 

“It is interesting to see how sentiment on Amazon.com, Inc. (NASDAQ:AMZN) went from positive to negative in one quarter, as it transpired that it too was not as immune to post-covid slowdowns as some, myself included, had expected. However, I feel confident that Amazon, as the apex predator in the e-commerce space, will navigate market softness better than most other retailers. Moreover, once it finishes with its current capex cycle, it will continue to improve margins. Andy Jassy is reportedly spending one-third of his time focused on capacity and supply issues in the retail division.”