Should You Hold Amazon.com (AMZN)?

White Falcon Capital Management, an investment fund manager, released its third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -4.5% compared to the S&P 500 (CAD), the MSCI All Country (CAD), and the S&P TSX’s returns of -0.9%, -1.2%, and -2.2%, respectively. After a great surge in the first half of the year, the market cooled off in the third quarter, and the portfolio lost some of its gains. In addition, please check the fund’s top five holdings to know its best picks in 2023.

White Falcon Capital Management highlighted stocks like Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter 2023 investor letter. Headquartered in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) provides consumer products and subscriptions. On October 13, 2023, Amazon.com, Inc. (NASDAQ:AMZN) stock closed at $129.79 per share. One-month return of Amazon.com, Inc. (NASDAQ:AMZN) was -7.28%, and its shares gained 14.06% of their value over the last 52 weeks. Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $1.339 trillion.

White Falcon Capital Management made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2023 investor letter:

“There are comparable narratives involving NU Holdings, Amazon.com, Inc. (NASDAQ:AMZN), and Teck Resources, to name a few holdings from the White Falcon portfolio. Amazon constructed its logistics network and cloud computing infrastructure using yesterday’s currency, but it is poised to capitalize on this network with the inflated dollars of tomorrow. In essence, we believe we hold wonderful businesses with growing revenue streams and potential for operating leverage – all at reasonable valuations.”

20 Most Searched Products on Amazon

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Amazon.com, Inc. (NASDAQ:AMZN) is in second position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 278 hedge fund portfolios held Amazon.com, Inc. (NASDAQ:AMZN) at the end of second quarter which was 243 in the previous quarter.

We discussed Amazon.com, Inc. (NASDAQ:AMZN) in another article and shared the list of best big company stocks to buy. In addition, please check out our hedge fund investor letters Q3 2023 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.