Varenne Capital Partners Boosts Amazon Stake by 398.8% in Q2
Varenne Capital Partners significantly increased its stake in Amazon.com, Inc. (NASDAQ: AMZN) by 398.8% in the second quarter, according to its latest 13F filing with the SEC. The fund now holds 61,050 shares of the e-commerce giant's stock, worth $14,540,000. Amazon.com represents approximately 2.4% of Varenne Capital Partners' portfolio, making it the firm's 15th largest holding.
Several other institutional investors also adjusted their positions in Amazon.com during the second quarter. Henrickson Nauta Wealth Advisors Inc. raised its holdings by 33.0%, while Wedmont Private Capital grew its stake by 3.4%. Kintra Wealth LLC increased its position by 11.7%, and Endeavor Private Wealth Inc. boosted its holdings by 10.8%. POM Investment Strategies LLC saw the most significant increase, raising its stake by 223.6%. Collectively, hedge funds and other institutional investors own 72.20% of Amazon.com's stock.
Positive sentiment surrounding Amazon.com includes TD Cowen reaffirming its Buy rating and raising its price target to $350. Analysts note that Amazon's roughly 20-times earnings valuation is historically low for the company. AWS is expanding its AI capabilities by hiring former Microsoft Copilot executive Pedram Rezaei, and Amazon signed a multiyear, $1 billion-plus agreement with Synopsys to strengthen its custom-chip strategy. The company is also investing in data-center power and community support, which may ease local opposition and remove infrastructure constraints on AWS expansion.
However, there are some negative sentiments as well. Amazon is reportedly considering moving approximately $8 billion of Nvidia chips into a special-purpose vehicle and leasing them back, highlighting the scale and financing burden of AI infrastructure spending. Additionally, CEO Douglas Herrington sold 1,000 shares under a pre-arranged Rule 10b5-1 plan, which, while small relative to his remaining holdings, may add modest headline pressure.