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Banking Warren Buffett's firm details its $860M Amazon investment

Warren Buffett’s firm details its $860M Amazon investment

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OMAHA, Neb. (AP) — Investor Warren Buffett’s company is offering the first details of its roughly $860 million stake in Amazon.

Buffett said earlier this month that another investment manager at Berkshire Hathaway had bought Amazon stock, but the company didn’t reveal it held 483,300 Amazon shares until this week when it filed an update with the Securities and Exchange Commission.

The filing shows Berkshire’s U.S. stock holdings at the end of March, so Berkshire’s holdings may have changed since then.

Throughout his career, Buffett avoided investing in technology companies because he said he couldn’t reliably pick the winners, but he has said he made a mistake by not investing in Amazon years ago.

Berkshire owns more than 90 businesses including insurance, railroads, jewelry stores. And it holds major investments in American Express, Coca-Cola and Wells Fargo & Co.

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