Top 5 Stocks to Buy in 2022 According to Motley Fool’s 1623 Capital

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

1623 Capital’s Stake Value: $11,084,000

Percentage of 1623 Capital’s 13F portfolio: 5.55%

Number of Hedge Fund Holders: 271

Amazon.com, Inc. (NASDAQ:AMZN) is one of the top stocks to buy in 2022 according to Motley Fool’s 1623 Capital. The hedge fund owns 3,400 shares of the company as of Q1, worth over $11 million, representing 5.55% of the total 13F portfolio. Redburn analyst Alex Haissl on June 29 initiated coverage of Amazon.com, Inc. (NASDAQ:AMZN) with a Buy rating and a $270 price target, citing his view that Amazon Web Services is worth $3 trillion, or “almost 3x Amazon’s current market cap”. 

According to Insider Monkey’s data, 271 hedge funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN) at the end of March 2022, compared to 279 funds in the earlier quarter. Ken Fisher’s Fisher Asset Management is the largest shareholder of the company, with 2.3 million shares worth $7.70 billion.

Here is what Weitz Investment Management Partners III Opportunity Fund has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2022 investor letter:

“Amazon.com’s (NASDAQ:AMZN) stock was down modestly in the quarter, but opportunistic purchases helped the position contribute positively to the Fund. Our index short positions against ETFs tracking market indexes provided helpful ballast during the first quarter drawdown but were otherwise detractors for the fiscal year. During the quarter, we covered roughly 20% of our S&P 500 short and 50% of our Nasdaq 100 short at progressively lower prices. Among our long equities, we added materially to high-conviction holdings Amazon.com.”