Buffett’s Berkshire Pegs Its Amazon Wager at $860.6 Million
- Investment first disclosed before annual meeting this month
- Bets boosted on JPMorgan, reduced on Southwest, Wells Fargo
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Warren Buffett’s Berkshire Hathaway Inc. revealed that its new Amazon.com Inc. bet totaled $860.6 million at the end of March.
The size of the holding, an investment made by one of Buffett’s deputies, gives more clarity to the wager that Buffett disclosed days before his annual shareholder meeting earlier in May. Berkshire also spent the first three months of the year ramping up bets on JPMorgan Chase & Co. and Red Hat Inc., and paring investments in Southwest Airlines Co. and Wells Fargo & Co., according to a regulatory filing Wednesday.