5 Tech Stock Picks of Seth Wunder’s Black-And-White Capital

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

Black-And-White Capital’s Stake Value: $57,760,000
Percentage of Black-And-White Capital’s 13F Portfolio: 5.97%
Number of Hedge Fund Holders: 271

The hedge fund owns 16,790 shares in Amazon.com, Inc. (NASDAQ:AMZN) worth $57.76 million, representing close to 5.97% of its portfolio. Black-And-White Capital has trimmed its stake in the firm by 9% in the second quarter of 2021.

Hedge fund managers see more upside for Amazon.com, Inc. (NASDAQ:AMZN) in 2021, given they were adding to their net holdings in the second quarter. At the end of the second quarter, 271 hedge funds in our database held stakes in Amazon.com, Inc. (NASDAQ:AMZN), compared to 243 funds in the previous quarter.

In its third-quarter 2021 investor letter, Worm Capital LLC mentioned Amazon.com (NASDAQ:AMZN). Here is what the fund said:

“Our core portfolio as of this writing—TSLA, SPOT, SHOP, ABNB, and AMZN—are all premier examples of companies that use the concept of aggregation of marginal gains to continuously improve their value proposition for customers. After all, what is innovation if not just a continuous search for fractional advantages in business?

Amazon, for instance, accumulates marginal gains by compressing their costs year after year for consumers, creating an infrastructure and logistics network unrivaled by its peers. In the short-term, the market can often misunderstand the intentions of the “marginal gain accumulators,” but over time, their value-creation becomes obvious in hindsight.”