In Q3, Griffin’s Citadel hedge fund increased positions in 6 “Magnificent Seven” stocks, but sold 39% of Amazon stake. However, Amazon remains a strong pick for long-term investors. Griffin’s buying spree included millions of shares in top tech stocks like Microsoft, Nvidia, and Meta Platforms, but notably reduced Amazon holdings.

Griffin’s hedge fund now holds Microsoft as its largest position, doubling its stake in Q3. Nvidia and Meta Platforms also saw significant increases in Citadel’s holdings. Apple, Tesla, and Alphabet were also bought by Griffin in Q3. However, Amazon was the only Magnificent Seven stock that saw a decrease in Citadel’s stake.

Griffin’s decision to sell a large portion of Amazon shares in Q3 raised questions. Despite Amazon’s strong performance, Griffin may have been rebalancing his portfolio. Amazon’s AWS cloud unit, advertising revenue, and expansion into new markets offer growth opportunities. Long-term investors may still find Amazon to be a solid investment choice.

Read more at Nasdaq: Billionaire Ken Griffin Is Loading Up on Every “Magnificent Seven” Stock — With 1 Notable Exception