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Warren Buffett's Berkshire Hathaway reveals $900 million Amazon stake
CNBC
Wed, 15 May 2019 21:31

Warren Buffett's Berkshire Hathaway reveals $900 million Amazon stake

CNBC
Wed, 15 May 2019 21:31

Warren Buffetts Berkshire Hathaway on Wednesday revealed in a government filing the size of its stake in e-commerce giant Amazon.

Warren Buffett's Berkshire Hathaway reveals $900 million Amazon stake


Berkshires stake in Amazon was 483,300 shares at the end of the quarter ended March 31, according to a filing at the Securities and Exchange Commission. The value of that stake was $904 million by the closing bell Wednesday.
Despite the sizable headline figure, the position doesnt put Berkshire near the top of Amazons biggest shareholder list. The stake represents about 0.1% of Amazons outstanding equity.

Buffett first disclosed the new investment in Amazon to CNBC on May 2, a day before Berkshires annual shareholder meeting in Omaha, Nebraska. The size of the position, however, had not previously been reported to the public.

The renowned value investor — though a fan of Amazon and its CEO, Jeff Bezos — also told CNBC earlier this month that he isnt responsible for Berkshires investment.

"One of the fellows in the office that manage money ... bought some Amazon, so it will show up in the 13F," Buffett said on May 2. Buffett was likely referring to one of his two lieutenants, Todd Combs or Ted Weschler, who each manage portfolios of more than $13 billion in equities for Berkshire.

"Yeah, Ive been a fan, and Ive been an idiot for not buying" Amazon shares, Buffett said at the time. "But I want you to know its no personality changes taking place."
Amazon shares rose 0.1% in after-hours trading following the SEC filing.

Berkshire Hathaways report also showed an 18% increase in its J.P. Morgan Chase stake to 59.5 million shares and a 22% increase to its Red Hat holdings to 5.1 million shares.

— CNBCs Becky Quick contributed to this report.