VGI Partners Global Investments Limited, an investment management company, released its second quarter 2023 investor letter. A copy of the same can be downloaded here. The firm returned 19.7%1 at an average net exposure of 72% for the six months ended June 30, 2023. Since the start of 2023, global market indices have recovered, with the MSCI World Index increasing +14% to 30 June 2023, the S&P 500 rising +16%, and the technology-focused NASDAQ Composite increasing +32% for the same period. In addition, please check the fund’s top five holdings to know its best picks in 2023.
VGI Partners 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 August 15, 2023, Amazon.com, Inc. (NASDAQ:AMZN) stock closed at $137.67 per share. One-month return of Amazon.com, Inc. (NASDAQ:AMZN) was 1.71%, and its shares lost 3.12% of their value over the last 52 weeks. Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $1.413 trillion.
VGI Partners made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its second quarter 2023 investor letter:
“We continue to see upside to Amazon.com, Inc. (NASDAQ:AMZN)’s two core businesses – Amazon Web Services (AWS) and retail/ecommerce. Whilst Microsoft and ChatGPT have captured the imagination of investors looking for AI exposure, the AI business at AWS is extremely well positioned to increase sales through its combination of software infrastructure products, proprietary training and inference chips (an alternative to NVIDIA). AWS is also developing large language models which are only beginning to be appreciated by the investment community.
In addition, we see significant room for Amazon’s retail business to surprise to the upside through margin expansion. After a period of massive capacity expansion and transport infrastructure investment, Amazon has rationalised its North American retail footprint and we believe it will reap the margin benefit of this over the coming years.”
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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, 243 hedge fund portfolios held Amazon.com, Inc. (NASDAQ:AMZN) at the end of first quarter which was 240 in the previous quarter.
We discussed Amazon.com, Inc. (NASDAQ:AMZN) in another article and shared a conservative stock portfolio with the 5 best stocks to buy. In addition, please check out our hedge fund investor letters Q2 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.
