Berkshire Hathaway Inc position in Amazon.com was made in a regulatory filing. Many investors monitor Berkshire’s quarterly filings for signs of which companies Buffett, Weschler and Combs see value.
In a regulatory filing, Warren Buffett’s Berkshire Hathaway Inc disclosed that it owns shares worth $860.6 million in Amazon.com Inc as of March 31, 2019.
The billionaire investor has admitted to underestimating Amazon.com and its Chief Executive Officer Jeff Bezos.
The filing includes investments by Buffett and his portfolio managers Todd Combs as well as Ted Weschler; it however does not disclose purchase and sales details.
Earlier this month, Buffett told CNBC that the 483,300 share Amazon investment, which would be worth $904 million now, was made by Combs or Weschler, and that he had been “an idiot” for not investing in Amazon himself.
Berkshire Hathaway’s investment in Amazon marks a deepening of relations between Buffett and fellow billionaire Bezos, whose companies teamed up last year with JPMorgan Chase & Co to create Haven, a venture aimed at reducing their employees’ costs of healthcare.
Berkshire also invests in JPMorgan; it has boosted its holdings in the largest U.S. bank by 19% in the first quarter to 59.5 million shares, worth $6.02 billion.
“I don’t mind not having caught Amazon early. The guy is kind of a miracle worker,” said Munger at Berkshire’s annual shareholder meeting on May 4, referring to Bezos. “It’s very peculiar. I give myself a pass on that.”
Combs and Weschler’s initial investments have sometimes heralded major Berkshire commitments directed by Buffett. These have included Berkshire’s $32.1 billion purchase in 2016 of industrial and aircraft parts maker Precision Castparts, and a stake in Apple Inc worth close to $48 billion.
Included in Berkshire’s disclosure was other changes to its portfolio including a stake in software company Red Hat Inc, Delta Air Lines Inc, PNC Financial Services Group Inc and paring stakes in oil refiner Phillips 66, Southwest Airlines Co and Wells Fargo & Co.