Berkshire invests in JPMorgan, Oracle as a Buffett puts cash to work

(Reuters) – Warren Buffett's Berkshire Hathaway Inc. on Wednesday said it had taken stakes in JPMorgan Chase & Co, Oracle's Corp. and Travelers Cos, as the conglomerate puts some of its large cash hoard to work.

As of Sept. 30, Berkshire owned about $ 4.02 billion in JPMorgan, the largest U.S. Bank by assets, where one of Buffett's investment managers, Todd Combs, is a board member.

Berkshire said it was about $ 2.13 billion of Oracle stock and $ 460 million of Travelers stock.

The holdings were disclosed in Berkshire's U.S.-listed stock market as September 30, after which the Omaha, Nebraska-based conglomerate spent $ 17.7 billion on equities.

The Bank of America Corp., US Bank of America Corp., Goldman Sachs Group Inc., US Bancorp, and Wells Fargo & Co., has a significant market share in Berkshire's stock portfolio, which is already widely available in other financial services companies.

Buffett has long been the leader of JPMorgan Chief Executive Executive Director Jamie Dimon, and Chief Executive Officer Jeff Bezos to create a new company to be a partner U.S. employee healthcare costs.

Atul Gawande, a surgeon and critic of medical industry practices, was named in June to lead the venture.

Buffett, Ted Weschler and other portfolio managers, handle Berkshire's investments.

Buffett, who often buys stock when he does not know who he is.

These stocks include Apple Inc., in which Berkshire said earlier this month it had a $ 57.6 billion stake.

Berkshire has more than 90 units in the insurance, energy, food and retail, industrial, railroad and other sectors. But Buffett has not completed a major acquisition since January 2016.

Despite the purchases, Berkshire ended September with $ 103.6 billion of cash and equivalents.