Stan Druckenmiller Is Still Very Bullish On These 5 Stocks

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

Duquesne Capital’s Equity Stake: $28.47 million
Number of Hedge Fund Holders: 278

Amazon.com, Inc. (NASDAQ:AMZN) is an online retailer that sells products and subscriptions. It also makes money from cloud services as part of Amazon Web Services and manufactures and sells electronic devices, including Kindle Fire Tablets, Fire TVs and Echo smart speakers. 

Amazon.com, Inc. (NASDAQ:AMZN) has gained more than 42% year to date, affirming why it is one of the stocks Druckenmiller is still very bullish on. While the hedge fund acquired sakes in the fourth quarter of 2010. Since that time, he has been actively trading shares of the company. In Q2 2023, it accounted for 0.99% of the portfolio valued at $28.47 million. 

Amazon.com, Inc. (NASDAQ:AMZN) had 278 top hedge funds owning shares in it. They had shares worth $34.9 billion in total. This was more than the 243 top hedge funds with shares worth $25.7 billion in the previous quarter. In Q3 2023, Diamond Hill Capital was a significant shareholder of the company, with a stake of $344 million.

Here is what White Falcon Capital Management said about Amazon.com, Inc. (NASDAQ:AMZN) in its third quarter 2023 investor letter:

“There are comparable narratives involving NU Holdings, Amazon.com, Inc. (NASDAQ:AMZN), and Teck Resources, to name a few holdings from the White Falcon portfolio. Amazon constructed its logistics network and cloud computing infrastructure using yesterday’s currency, but it is poised to capitalize on this network with the inflated dollars of tomorrow. In essence, we believe we hold wonderful businesses with growing revenue streams and potential for operating leverage – all at reasonable valuations.”

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