On Wednesday (May 15), Berkshire Hathaway Group of Warren Buffett revealed the amount of Amazon shares they are holding. According to rec...
On Wednesday (May 15), Berkshire Hathaway Group of Warren Buffett revealed the amount of Amazon shares they are holding.
According to records at the US Securities and Exchange Commission (SEC), Berkshire Hathaway holds 483,300 Amazon shares on March 31, 2019. The total value of this stock is USD 904 million at the closing time of Wednesday (May 15).
Despite the huge numbers, these shares only account for 0.1% of Amazon's outstanding shares.
Buffett first revealed a new investment in Amazon with CNBC on May 2, 2019, the day before the Berkshire Hathaway shareholders' meeting in Omaha, Nebraska. However, the scale of the investment was not disclosed before.
Well-known value investors - despite being an Amazon fan and CEO Jeff Bezos - also said earlier that he was not the decision maker to invest in Amazon.
"One of the colleagues in the money management office bought Amazon shares, so it will appear in the 13F report" later this month, Buffett told CNBC on Thursday (May 2). ahead of the general meeting of shareholders of Berkshire Hathaway in Omaha. Buffett probably wants to talk about Todd Combs or Ted Weschler - who manage more than $ 13 billion of Berkshire Hathaway's shares.
Buffett has long been a fan of Amazon and CEO Jeff Bezos, praising the company's ability to dominate and the founder's business ability. But despite praising the company, Mr. Buffett never bought Amazon shares. So headline headlines suggested that Berkshire Hathaway bought Amazon shares that could attract market attention.
"Yes, I am a fan and I was a fool when I didn't buy Amazon stock," Buffett said. "But, I want you to know that I have not changed anything."
Berkshire Hathaway's report also showed that shares at JPMorgan increased by 18% to 59.5 million shares and the number of shares at Red Hat increased by 22% to 5.1 million shares.
Berkshire currently owns 90 different companies, operating in areas ranging from rail transport to car insurance. The group often buys shares when acquiring a whole company seems too expensive.
For many years, Mr. Buffett virtually avoided buying technology stocks, citing his inability to understand the product and technology markets. One exception is that he bought IBM shares, poured $ 10 billion into the company in 2011, but the investment did not yield the expected results. After losing money, Mr. Buffett sold most of IBM shares in 2018.
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