5 Best Stocks to Buy According to George Soros

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

Number of hedge fund holders: 271

The world’s largest e-commerce platform Amazon.com, Inc. (NASDAQ:AMZN) is the third-largest stock holding of billionaire George Soros portfolio, according to the second-quarter filings. His firm lifted its stake in Amazon by 37% to 94,604 shares in the second quarter. Shares of Amazon rebounded in the past few months after experiencing volatility early this year.  

In the second quarter investor letter, L1 Capital, an investment management firm, mentioned a few stocks including Amazon. Here is what L1 Capital stated

“Amazon flipped from being the largest detractor from portfolio performance in the March 2021 quarter, to one of the leading contributors in the June 2021 quarter. We took advantage of negative near-term sentiment in the March 2021 quarter to add to our Amazon investment. We continue to view Amazon as one of the best-positioned businesses globally, with its share price still not reflecting fair value.”