Saranac Partners Buys $12M Stake in Amazon Amid Regulatory Scrutiny
A recent SEC filing has revealed that Saranac Partners Ltd purchased 52,274 shares of Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, valuing them at approximately $12,468,000.
This new position represents about 3.6% of Saranac Partners' investment portfolio, making it its second-largest holding.
The move comes as Amazon continues to face various regulatory and reputational challenges. The company is facing European Commission scrutiny over marketplace rules that may restrict sellers from offering lower prices elsewhere.