Berkshire Hathaway enhances stake in Amazon

Giant adds more shares despite claiming earlier that it had sold more stocks than it had bought

Berkshire Hathaway enhances stake in Amazon

Insurance News

By Lyle Adriano

Berkshire Hathaway has revealed that it increased its stake in a couple of major companies – one of them being Amazon – during the second quarter.

The insurer said that it boosted its stake in Amazon by 11% during Q2 2019; Berkshire Hathaway ended June with 537,300 Amazon shares worth about US$1.02 billion, which is up from 483,300 shares three months earlier.

According to Warren Buffett, the billionaire business magnate who owns Berkshire Hathaway, it was one of his portfolio managers – either Todd Combs or Ted Weschler – that made the initial investment in Amazon.

Buffett’s insurance company also revealed a US$749 million stake in Pershing Square Capital Management, owned by fellow billionaire William Ackman.

Berkshire Hathaway disclosed all the information in a regulatory filing this week that broke down the US$208.1 billion US-listed stocks it owned by the end of June. The company’s stock price is more than 12% below its record high in October.

The news comes as Berkshire previously disclosed earlier this month that it had sold more stocks than in bought during the quarter – Reuters suggested that the move could reflect possible concern among Buffet and his portfolio managers regarding valuations.


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