NewEdge Wealth LLC Invests Heavily in Amazon.com Inc.

NewEdge Wealth LLC, a financial institution, has purchased a significant number of Amazon.com Inc. shares in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 688,333 shares of AMZN, valued at approximately $164,057,000, during the second quarter. This investment represents about 1.6% of NewEdge Wealth LLC's portfolio.

Amazon.com accounts for a substantial portion of the company's holdings, making it its 12th biggest holding. Other large investors have also recently added to or reduced their stakes in AMZN, with several purchasing new positions in the e-commerce giant during the second quarter.

The majority of Amazon.com's stock is owned by hedge funds and other institutional investors, accounting for 72.20% of the company's shares.