The latest Form 13F filing of the Securities and Exchange Commission reveals that Aptus Capital’s has trimmed its stake in Amazon (AMZN, Financial) by 63% during the third quarter. After the shares were sold, Aptus Capital now owns 463,255 shares of the e-commerce company and has $86.3 million in value. Zell said that Amazon now accounts for only 1.3% of Aptus Capital’s investment portfolio, and it is the 14th largest position in the firm’s holdings.
While Aptus Capital has reduced its Amazon exposure, other institutions have been tinkering with their holdings in the company. Legal & General Group Plc boosted its stake by 1.5 percent to 69.7 million shares worth $13.47 billion. Bank of New York Mellon Corp also increased its stake by 0.4 percent to 67.7 million shares, worth $13.1 billion. Ameriprise Financial Inc. also raised its stake by 3.4 percent, now holding about 41 million shares worth $7.92 billion.
That said, the biggest increase came from International Assets Investment Management LLC, which increased its holdings 20,897 percent, acquiring another 38.95 million, for a total of 39.1 million shares, at $72.92 billion.
Despite shifting positions in individual hedge fund portfolios, 72.2 % of institutional investors who have strong confidence in the company control Amazon’s current stock. This movement off of Amazon, as indicated, is in response to the ongoing market dynamics surrounding Amazon’s new growth possibilities, which persistently draw in massive institutional interest.
This article first appeared on GuruFocus.
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