Billionaire David Tepper Doesn’t Like Most Stocks But He Likes These 5

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

Value of Appaloosa Management LP’s 13F Position: $412.26 million
Number of Hedge Fund Shareholders: 278

Appaloosa Management LP holds $412.26 million worth of stakes in Amazon.com, Inc. (NASDAQ:AMZN), accounting for 7.64% of its portfolio.

Diamond Hill Capital shared its thoughts on Amazon.com, Inc. (NASDAQ:AMZN) in its Q2 2023 investor letter:

“Among our top contributors were insurance company American International Group (AIG), auto retailer CarMax and global online retailer Amazon.com, Inc. (NASDAQ:AMZN).

Amazon’s management team has been working to improve retail profitability, and Q1 results showed progress. In the case of Amazon’s web services (AWS), the market has shifted its focus from where growth will bottom in the near term to how AI can help accelerate the adoption of public cloud services in the future. We believe Amazon’s competitive advantages will continue to grow and that the business has the potential to grow faster than the overall economy in the coming years.”

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