Oakmark Funds, advised by Harris Associates, released its “Oakmark Fund” second quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund underperformed its benchmark, the S&P 500 Index, but outperformed the benchmark since inception. The largest contributors to performance were financials and consumer discretionary, at the sector level, while health care and consumer staples detracted. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025. In its second quarter 2025 investor letter, Oakmark Fund highlighted stocks such as Amazon.com, Inc. (NASDAQ:AMZN). Amazon.com, Inc. (NASDAQ:AMZN) provides consumer products, advertising, and subscription services through online and physical stores. The one-month return of Amazon.com, Inc. (NASDAQ:AMZN) was 5.02%, and its shares gained 21.46% of their value over the last 52 weeks. On July 16, 2025, Amazon.com, Inc. (NASDAQ:AMZN) stock closed at $223.19 per share, with a market capitalization of $2.369 trillion. Oakmark Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its second quarter 2025 investor letter: "Amazon.com, Inc. (NASDAQ:AMZN is the world's largest online retailer and provider of cloud services. The company is a dominant player in massive end markets with secular growth tailwinds. Amazon benefits from a wide competitive moat supported by scale, customer loyalty, and network effects. We think it is a well-managed business that will use AI to improve operational efficiency, enhance customer experience, and fuel long-term demand growth at Amazon Web Services (AWS). Despite this favorable outlook, Amazon’s stock price fell recently due to a combination of tariffs and short-term macroeconomic concerns. We were pleased to purchase shares in what we believe is one of the world's best companies at a discount to our estimate of intrinsic value." A customer entering an internet retail store, illustrating the convenience of online shopping. Amazon.com, Inc. (NASDAQ:AMZN) is in first position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 328 hedge fund portfolios held Amazon.com, Inc. (NASDAQ:AMZN) at the end of the first quarter compared to 339 in the fourth quarter. In Q1 2025, Amazon.com, Inc. (NASDAQ:AMZN) achieved global revenue of $155.7 billion, representing an 10% year-over-year growth excluding the impact of foreign exchange. While we acknowledge the risk and potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN and that has 10,000% upside potential, check out our report about this cheapest AI stock. In another article, we covered Amazon.com, Inc. (NASDAQ:AMZN) and shared the list of stocks that Jim Cramer recently discussed. Alphyn Capital Management highlighted Amazon.com, Inc. (NASDAQ:AMZN) in its Q2 2025 investor letter and described it as a self-sustaining multi-legged compounding machine, valued at roughly a mid-teen multiple of its normalized free cash flow. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.

Amazon.com Inc's carbon emissions rose for the first time in three years in 2024, driven by data centre construction and fuel consumption by its delivery providers.