Buffett’s Berkshire reveals $861 million Amazon stake

Business

FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File Photo

(Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos.

The size of the investment was disclosed in a regulatory filing detailing Berkshire’s U.S.-listed stocks as of March 31.

Wednesday’s filing includes investments by Buffett and his portfolio managers Todd Combs and Ted Weschler, but does not say who bought and sold what.

Buffett told CNBC this month that the Amazon investment was made by Combs or Weschler, and that he had been “an idiot” for not investing in Amazon himself.

Reporting by Jonathan Stempel in New York; Editing by Susan Thomas

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