Maplelane’s Top 5 Stock Holdings

2. Amazon.com (NASDAQ: AMZN)

The largest e-commerce giant Amazon.com (NASDAQ: AMZN) is the second-largest stock holding of Maplelane Capital. It is the long-running investment of the New York-based hedge fund and the firm has added to its existing position during the September quarter.

L1 Capital International Fund has presented a bullish case for Amazon in an investors’ letter. Here is what L1 Capital stated:

“Several investments in the technology sector were trimmed on valuation grounds with the proceeds used to increase our investment in Amazon. Amazon’s successful flywheel business model and Amazon Web Services are well known. However, we believe the current share price under‑appreciates:

– The consistency and longevity of Amazon’s growth potential in its key businesses;

– The importance of additional revenue streams such as advertising which are high margin and growing rapidly; and

– The strengthening barriers to competition and competitive advantages arising from Amazon’s stepped‑up investment in logistics and other infrastructure.”