5 Stocks Billionaire David Harding is Buying in Droves

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

Value of Winton Capital Management‘s 13F Position: $18.2 million

Number of Hedge Fund Shareholders: 274

Amazon.com, Inc. (NASDAQ:AMZN) has a lot going for it, which includes topping our list of the 5 Best Data Center Stocks To Invest In. David Harding certainly likes the near-term trajectory of Amazon, as he grew his fund’s stake in the ecommerce titan 13-fold during Q1 to 5,598 shares. John Nevin Jr.’s Ayshire Capital Management topped even that, growing its AMZN holding 20-fold during the quarter.

Amazon.com, Inc. (NASDAQ:AMZN)’s Prime Day was in full swing the past two days, but some analysts suggested it was the company’s stock that was the biggest deal of all. Amazon shares have fallen 32% this year due in part to sagging profitability in Q1, which resulted in the company’s first quarterly loss in seven years. The ecommerce giant suffered an $11.9 billion swing in net income year-over-year during Q1.

A huge chunk of that loss was due to Amazon.com, Inc. (NASDAQ:AMZN)’s $7.6 billion pre-tax valuation loss on its 18% stake in Rivian Automotive, Inc. (NASDAQ:RIVN), shares of which cratered by 51% during the first quarter. That’s a transient issue however. Of more critical import is Amazon’s Web Services, which Harris Associates investment analyst Marko Lazarevic believes will one day be worth Amazon’s entire current market cap. As he put it “you’re essentially getting the retail business for free”, and without taking on much risk.