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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
We put our proceeds from Builders plus a little cash into a new investment in Amazon. Since I promised...
— David M. Poppe
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Other investors who've written on Amazon.com, Inc.
Deteriorating conditions in the Middle East did little to temper seemingly insatiable demand for AI infrastructure. Both Amazon and...
Amazon’s share price increased 5% during the third quarter and 8% year-to-date. Business momentum remains...
Amazon.com ($AMZN) represents 7.99% of the fund's portfolio. Amazon dominates global...
More institutional theses from Giverny Capital Asset Management
Other holdings such as American Express, Constellation Software, Heico, Kinsale and Mastercard continue to generate strong results yet have negative stock returns for the year-to-date through September. We made a...
To cite one extreme example of a stock that has become decoupled from business results, Charles Schwab stock is flat for the year even as its earnings are expected to grow 30% this year and another 25% or so next year. The stock trades...
The hyperscale data center builders like Google, Meta, Microsoft and Amazon have huge cash flows and enthusiastic markets for their stock or debt. Yes, their capital...