George Soros Stock Portfolio: Top 5 Stock Picks

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

Number of Hedge Fund Holders: 252

Soros Fund Management’s Stake Value: $212,898,000

Amazon.com, Inc. (NASDAQ:AMZN) has been part of the George Soros stock portfolio since the last quarter of 2010, with a few breaks over the years. In Q2 2022, the hedge fund elevated its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2735%, holding more than 2 million shares worth approximately $213 million, representing 3.79% of the total 13F securities. 

On November 2, Tigress Financial analyst Ivan Feinseth reiterated a Buy recommendation on Amazon.com, Inc. (NASDAQ:AMZN) but lowered the firm’s price target on the shares to $192 from $232. The analyst said the new price target reflects a re-rating of valuation and growth rate adjustments. He sees further growth and share price gains and views the recent pullback as a “major” buying opportunity.

According to Insider Monkey’s data, 252 hedge funds held stakes worth $30 billion in Amazon.com, Inc. (NASDAQ:AMZN) at the end of June 2022, compared to 271 funds in the prior quarter worth $48 billion. Ken Fisher’s Fisher Asset Management featured as a significant position holder in the company, with 48.6 million shares valued at $5.16 billion.  

Alger Capital made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2022 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is a well-known online retailer and cloud computing leader. The company’s amazon web services business provides utility-scale cloud offerings that facilitate corporate America’s transition to digital systems. Shares outperformed during the quarter as investors were encouraged by strong second-quarter performance despite a challenging macroeconomic environment. Moreover, the company’s retail segment was resilient and avoided discounting inventory like some major retailers did. Revenues for the company’s cloud computing segment, amazon web services (AWS), grew faster than analysts’ estimates during the quarter due to continuing corporate demand for digitization. As a result, management provided better-than-expected forward guidance.”

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