Alphyn Capital Management, an investment management firm, released its third-quarter 2022 investor letter. The same can be downloaded here. In the third quarter, the fund returned -10.95% net compared to -4.88% return for the S&P 500 Index. Year-to-date the fund returned -34.2% compared to -23.9% return for the S&P500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Alphyn Capital discussed stocks like Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2022 investor letter. Headquartered in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) engages in the sale of consumer products and subscriptions. On November 04, 2022, Amazon.com, Inc. (NASDAQ:AMZN) stock closed at $90.98 per share. One-month return of Amazon.com, Inc. (NASDAQ:AMZN) was -21.43%, and its shares lost -48.80% of their value over the last 52 weeks. Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $1.216 trillion.
Alphyn Capital made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2022 investor letter:
“It is fascinating to me how Amazon.com, Inc. (NASDAQ:AMZN) continually uses its scale, operating resources, and “day one” attitude3 to expand the number of industries in which it is involved. Healthcare is now an area of increased focus. In July, Amazon purchased 1Life Healthcare Inc., which operates a primary-care practice under the name One Medical for $3.9 billion. Amazon also bid for home-health-services provider Signify but lost out to CVS in September with a winning bid of $8 billion.
It is hard to predict what direction this will take, but Amazon often finds ways to add “synergies” from seemingly disparate services. For example, consider that Amazon has invested heavily in video, which drives the adoption of its Prime subscription. As a result, prime members provide a recurring revenue stream (approximately $25 billion) and spend more heavily on Amazon’s retail. This strengthens Amazon’s retail network effects to benefit its high margin third-party marketplace and advertising businesses.”
Pixabay/ Public Domain
Amazon.com, Inc. (NASDAQ:AMZN) is in 2nd position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 252 hedge fund portfolios held Amazon.com, Inc. (NASDAQ:AMZN) at the end of the second quarter which was 271 in the previous quarter.
We discussed Amazon.com, Inc. (NASDAQ:AMZN) in another article and shared the best future stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
