Berkshire’s Weschler Holds Almost $150 Million of DaVita
Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), the largest shareholder in DaVita (DVA) HealthCare Partners Inc., said deputy stock picker Ted Weschler has a personal holding in the dialysis provider valued at almost $150 million.
Weschler has 1.19 million shares, or about 1.1 percent, of the Denver-based company, according to a regulatory filing yesterday. The holding was amassed before he joined Omaha, Nebraska-based Berkshire, according to the document. DaVita closed yesterday at $125.12 in New York trading.
DaVita jumped 10 percent on May 8, the most since 2009, after disclosing an agreement that was seen as setting a path for Berkshire to negotiate for a possible takeover. Berkshire has a stake of 14 percent. The filing yesterday outlines an agreement by Weschler, 52, and Berkshire about the separation of their holdings.
“Berkshire disclaims any beneficial ownership of shares directly owned by Mr. Weschler or over which he has or shares trading authority on behalf of his relatives or related trusts, and Mr. Weschler disclaims any beneficial ownership of shares owned by Berkshire,” according to the filing.
DaVita was one of the largest holdings at Weschler’s hedge fund before Buffett announced in 2011 he was joining Berkshire. Weschler wound down the fund, and now has personal stakes in some of the companies in which it held equity.
His holding in W.R. Grace & Co. was about 3.7 million shares as of December, according to data compiled by Bloomberg. The chemical company closed yesterday at $80.03.
Peter Grauer, chairman of Bloomberg LP, the parent company of Bloomberg News, has served on DaVita’s board of directors since 1994. Buffett, 82, is Berkshire’s chairman and chief executive officer.
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