Amazon.com Adds to Its Ranks Among Institutional Investors

Cornerstone Advisors LLC has added Amazon.com to its portfolio, purchasing 512,629 shares of the e-commerce giant's stock in the second quarter. The firm valued these shares at approximately $122,180,000.

This represents about 4% of Cornerstone Advisors' portfolio and makes AMZN its sixth largest holding.

Cornerstone is not alone in its investment in Amazon.com - several other institutional investors have also increased their stakes in the company recently.

Norges Bank purchased a new position in shares of Amazon.com during the fourth quarter worth approximately $32,868,735,000. Auto Owners Insurance Co increased its holdings in shares of Amazon.com by 27,376.7% in the fourth quarter.