Berkshire Hathaway revealed the size of its stake in Amazon in a regulatory filing on Wednesday, weeks after Warren Buffett promoted the e-commerce giant and its CEO, Jeff Bezos.
Buffett's firm had 483,300 shares in Amazon worth $ 860.6 million at the end of its last quarter on March 31, according to the filing of 13F. At the current price of the shares, the participation has a value of more than $ 900 million.
Buffett confirmed the firm's investment in Amazon at the annual meeting of Berkshire Hathaway shareholders earlier this month, but initially did not disclose the size of the stake. The "Omaha Oracle" told CNBC at the time one of its employees made the decision.
"I've been a fan [of Amazon], and I've been an idiot for not buying, "he said.
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|BRK.A||BERKSHIRE HATHAWAY INC.||305,580.00||-1,270.01||-0.41%|
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|JPM||JP MORGAN CHASE & CO.||109.90||-0.42||-0.38%|
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In addition to its participation in Amazon, Berkshire Hathaway also partners with e-commerce leader and investment bank J.P. Morgan Chase in a health care initiative. Nicknamed "Haven", the company seeks to reduce health care costs and improve benefits for employees.
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Berkshire Hathaway also revealed increases in its investments in J.P. Morgan Chase, Delta Air Lines and the cloud computing company Red Hat. The company reduced its holdings in Wells Fargo and Southwest Airlines.