Given yesterday’s closing price for Amazon, that stake is worth around $904 million. It was worth just over $860 million at the end of the first quarter. Buffett first disclosed the investment ahead of Berkshire Hathaway’s annual meeting in early May. At the time, he told CNBC, "Yeah, I’ve been a fan, and I’ve been an idiot for not buying. But I want you to know it’s no personality changes taking place.”
Berkshire’s stake in Amazon represents only 0.1% of Amazon’s outstanding equity, a relatively small position given the company’s sizable investments in Apple Inc. (AAPL), JPMorgan Chase & Co. (JPM) and American Express Co. (AXP).
According to the 13-F filing with the SEC, Berkshire also increased its equity position in JPMorgan to 59.5 million shares from 50.1 million shares. It also disclosed a 22% increase in its holdings of open-source software maker Red Hat Inc. (RHT) to 5.1 million shares, a 5% increase in its PNC Financial Services Group Inc. (PNC) stake to 8.6 million shares and an 8% increase in its Delta Air Lines Inc. (DAL) holdings to 70.9 million shares.
While Buffett is still the face of Berkshire Hathaway and its chair and CEO, he and Vice-Chair Charlie Munger turned the equity investing decisions over to Todd Combs and Ted Weschler years ago. Still, Buffett’s strategy of long-term value investing is apparent in today’s 13-F filing. Berkshire still holds sizable stakes in companies including Coca-Cola Co. (KO), American Express, Wells Fargo & Co. (WFC), Bank of New York Mellon Corp. (BK), and others.