Billionaires Are Quietly Loading Up on Amazon While It Trades Like a Value Stock
Several hedge fund managers bought Amazon stock during the second quarter.
Overview
Recent 13F filings reveal that a flurry of top hedge fund managers bought the same "Magnificent Seven" stock during the second quarter: Amazon (NASDAQ: AMZN). These purchases by Stanley Druckenmiller, Peter Thiel, Seth Klarman, and David Tepper are more than coincidental portfolio adjustments.
I think this collective bet on Amazon underscores a recognition that the company is evolving far beyond its e-commerce roots into a platform business positioned for durable growth. What unites their thinking is a keen focus on emerging businesses that compound through technological leverage, cash generation, and competitive advantages that others in the big tech ecosystem struggle to replicate at scale.
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Originally published at www.fool.com.