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Hedge Funds Stock Up on Amazon

Stocks in this article: AMZN

Updated from August, 14 to reflect change in Tiger Global.

NEW YORK ( TheStreet) -- Institutional investment managers added shares of Amazon (AMZN) to their shopping cart during the quarter ending in June, according to Securities and Exchange Commission 13F filings.

The Seattle, Wash.-based company's long-term investment horizon and resulting razor-thin margins did not deter investors in the June quarter, as shares notched a 12.76% gain, compared to a 5.05% loss in the Nasdaq. ending in June. Year-to-date, shares have gained 34.71%.

Tremblant Capital Group -- This hedge fund is a new Amazon shareholder, purchasing 217,957 shares during the quarter.

SAC Capital Advisors LP -- The Connecticut-based hedge fund run by Steven Cohen raised his stake 194,224 shares for a total holding of 308,341.

Tiger Global Management LLC -- Seeded by legendary investor and founder of Tiger Management, Julian Robertson, Tiger Global Management is known as a "Tiger Cub." The fund, founded by Chase Coleman, increased its holding of Amazon by 164,000 shares this quarter, reaching 346,000 shares total.

Tiger Consumer Management LLC -- Not all "Tiger Cubs" added shares of Amazon during the quarter. Tiger Consumer Management, which is focused on the consumer sector, sold its entire position of Amazon during the quarter, or 176,679 shares.

Amazon shares ended slightly higher in Tuesday trading, up 0.32% to close at $233.19.

--Written by Nathalie Pierrepont in New York.

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