- Warren Buffett’s Berkshire Hathaway sold its Costco position after investing more than 20 years ago, a filing revealed this week.
- The billionaire investor’s company grew its stake in the big-box retailer from 355,000 shares worth $32 million in 1999, to 4.3 million shares worth $1.3 billion in June of this year.
- The sale is a shock because Buffett famously invests for the long term, two of Berkshire’s directors sit on Costco’s board, and both Buffett and his business partner, Charlie Munger, have repeatedly praised the retailer.
- “If once or twice in a lifetime you’re associated with such a business, you’re a very lucky person,” Munger said about Costco in 2011.
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Warren Buffett’s Berkshire Hathaway revealed this week that it dumped its stake in Costco last quarter, exiting an investment it made more than