Unknown Billionaire Phill Gross’ Top 5 Stock Picks

3. Amazon.com (NASDAQ: AMZN)

Adage Capital reduced its position in Amazon.com (NASDAQ: AMZN) by 5% in the fourth quarter to 3.37% of the overall portfolio. It is ranked third in the list of unknown billionaire Phill Gross’ top 10 stock picks for 2021. Shares of Amazon underperformed in 2021 following a big gain during the pandemic year.

Saturna Capital Corporation, an investment management firm, stated that Amazon contributed significantly to its returns in 2020. Here is what Saturna Capital Corporation said:

“Technology claimed six of the 10 Largest Contributors for 2020, demonstrating the effect of the pandemic, remote work, and the acceleration of various Technology and Consumer trends. Indeed, a more expansive definition of Technology might include Consumer stock Amazon. Regardless of classification, Amazon was the leading contributor to Fund returns based not only on its dominant e-commerce position but also its leading cloud business, Amazon Web Services.”