Billionaire Louis Bacon’s Favorite Stocks Include Amazon, Alphabet & Others

#3 Amazon.com, Inc. (NASDAQ:AMZN)

– Shares held (as of March 31): 78,500
– Total Value (as of March 31): $46.6 million
– Percent of Portfolio (as of March 31): 1.88%

Moore Capital trimmed its holding in Amazon.com, Inc. (NASDAQ:AMZN) by 48% from January 1 to March 31. Given that Amazon’s shares have surged over the last 12 months, Moore Capital could be taking some profits off the table. Amazon.com, Inc. (NASDAQ:AMZN)’s cloud service continues to dominate its peers, with first-quarter revenue of $2.57 billion, up 64% year-over-year. The division’s operating profit more than tripled from a year ago to $604 million. Given the large total market size of the market, Amazon’s Web Services segment could continue to outperform for several more years before the law of large numbers eventually slows it down. Venture Capitalist Chamath Palihapitiya thinks Amazon could be a $3 trillion company over the next 10 years, with Amazon Web Services accounting for roughly half of that value.

#2 Fidelity National Information Services (NYSE:FIS)

– Shares held (as of March 31): 825,000
– Total Value (as of March 31): $52.23 million
– Percent of Portfolio (as of March 31): 2.10%

Fidelity National Information Services (NYSE:FIS) was a new position in Moore Capital’s equity portfolio in the first quarter. The fund established a stake of 825,000 shares worth $52.23 million at the end of March. Analysts like the stock because Fidelity National Information Services (NYSE:FIS) trades at just 16x forward earnings estimates and synergies from the company’s SunGard acquisition could exceed expectations. The stock has also been a solid performer of late, having rallied over 20% year-to-date. Aside from Bacon’s fund, 48 other funds that Insider Monkey tracks also owned shares of the company at the end of the first quarter.

#1 Alphabet Inc (NASDAQ:GOOGL)

– Shares held (as of March 31): 166,000
– Total Value (as of March 31): $126.64 million
– Percent of Portfolio (as of March 31): 5.10%

Moore Capital raised its stake in Alphabet Inc (NASDAQ:GOOGL) by 80% in the first quarter to 166,000 shares. Although Alphabet Inc (NASDAQ:GOOGL) missed both top and bottom line expectations for its first quarter with EPS of $7.50 on sales of $20.26 billion versus estimates of $7.97 per share and $20.37 billion, respectively, many investors think the company is a good long-term holding because of the company’s nearly unassailable position as the leading search and mobile operating system provider. Although the transition to messaging bots and virtual reality might cause some short term financial misses along the way (as the company figures out how to add ads into the interfaces), Google’s world-class workforce and its leading position in AI make it a must-hold for many investors, including 155 elite funds at the end of March.

Disclosure: none