Locator: 48655TECH.
Locator: 48655BRK.
SNOW revenue, link here:
The post-mortem suggests one or two of his lieutenants found this gem. They started a position in SNOW for the BRK portfolio. Sometime later, the boss became nervous and sold it all. From AI, I am being told that BRK no longer holds any SNOW, sold some time ago.
Another example of Warren Buffett not investing for the long term, but rather trading.
$1 billion: pocket change for BRK.
I highlighted SNOW on the blog several times over the past few years.
From OpenGPT:
Berkshire Hathaway first invested in Snowflake Inc. (NYSE: SNOW) during its initial public offering in September 2020. The company purchased $250 million worth of shares at the IPO price of $120 and acquired an additional 4 million shares from existing shareholders at the debut trading price, marking a rare venture into IPO investments for Berkshire.
In the second quarter of 2024, Berkshire Hathaway sold its entire stake in Snowflake, totaling approximately 6.13 million shares. The average closing price during this period was around $147.69, with the stock trading between $124.21 and $165.04.
Today SNOW shares surged 11% (almost $20/share), trading at $199 / share.
(2,083,333 shares + 4 million shares) x $120 = $730 million.
Sold for $148 / share.
Today, at $199 / share = $1,211 million.
A lot of money left on the table.
