Soros Fund Management owned 769,061 Amazon shares at the end of the second quarter, representing an increase of more than 8% in its holdings. Amazon’s stock price boomed during the pandemic when homebound shoppers relied on the retailer for toilet paper, groceries and much more. What investors who bought Amazon during the second quarter did not know yet was how well the company fared during those three months. It reported an 11% gain in second quarter revenue and topped analysts’ expectations when it reported earnings earlier this month. Management also pointed to a strong third quarter and the stock price rose on the earnings report.

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Persons: Washington, Mike Segar Organizations: Amazon, REUTERS, Fidelity, Amazon.com, Baupost, Soros Fund Management, Investment Group, Mutual, Investor GQG Partners, Securities and Exchange Commission, Management Locations: New York City , New York, U.S