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Tech stocks and ecommerce stocks appeared on hedge funds' lists of what to buy and what to sell during the first quarter of 2022.
More hedge funds increased their holdings in Amazon (NASDAQ:AMZN) than any other stock, according to Seeking Alpha's analysis of 37 funds' 13F filings. Eight funds added to their stakes in the ecommerce and web services giant, including Appaloosa, Corvex, Duquesne, Glenview, Singapore's Temasek, Eminence Capital, Whale Rock, and Melvin Capital.
Three funds, though, decided to lighten their Amazon (AMZN) holdings — Coatue, Tiger Global, and Third Point.
The next most popular stock to stock up on was Microsoft (NASDAQ:MSFT), with five funds adding to their stakes. Three funds reduced their MSFT holdings, including the Bill & Melinda Gates Foundation.
Four firms completely exited their investments in Alphabet (GOOGL), the most of any stock, with Glenview, the Gates Foundation, Third Point, and Duquesne pulling out. Three funds bid farewell to Netflix (NFLX) — Bluecrest, Soroban, and Tiger Global.
As for taking new stakes, Meta (FB) was a new investment for three funds, the most of any stock, picked up by Glenview, Lone Pine, and Saudi Arabia's Public Investment Fund.
When it came to reducing stakes, there was no consensus. Eight stocks each had three funds reducing their stakes — Corteva (CTVA), Amazon (AMZN), Bill.com (BILL), Walmart (WMT), Disney (DIS), Lowe's (LOW), Microsoft (MSFT), JD.com (JD), and Expedia (EXPE).
For a summary of the most high-profile moves see what Buffett, SoftBank, Ackman and others bought and sold.