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Key Points
- Several billionaire-led hedge funds purchased shares of Meta Platforms and/or Amazon in the second quarter.
- Meta Platforms is an early leader in smart glasses, and its Orion product could eventually replace smartphones.
- Amazon has the largest fleet of industrial mobile robots and is testing humanoid robots for package delivery.
Meta Platforms (NASDAQ: META) shares increased by 760%, while Amazon (NASDAQ: AMZN) surged by 810% over the last decade. Several hedge fund billionaires bought significant shares in both companies during Q2 2023, indicating strong interest in their innovations in artificial intelligence, augmented reality, and robotics.
Key transactions included Chris Rokos of Rokos Capital Management purchasing 227,100 shares of Meta and 379,600 shares of Amazon, Louis Bacon at Moore Capital acquiring 57,200 shares of Meta and 444,100 shares of Amazon, and Steven Cohen of Point72 Asset Management collecting 1.6 million shares of Amazon.
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