Berkshire Hathaway, the multinational conglomerate led by Warren Buffett, has made significant changes to its stock portfolio. In its regulatory filing, Berkshire announced the sale of 10 million Apple shares in the fourth quarter of 2023, although it still holds over 905 million shares worth approximately $174 billion. The decision to sell Apple shares came as a surprise to many, considering Buffett’s endeavor to increase Berkshire’s investment in the tech giant.
The stock sales could have been initiated by one of Buffett’s portfolio managers, Todd Combs and Ted Weschler, who oversee certain Berkshire investments. Alongside the reduction in its Apple stake, Berkshire also divested four common stock holdings: homebuilder DR Horton, insurer Globe Life, insurance and investment company Markel, and Brazilian credit card processor StoneCo. Despite holding over $1 billion worth of these stocks at the end of September, Berkshire reported no holdings in them in its latest filing.
Meanwhile, Berkshire increased its stake in oil company Chevron, one of its largest holdings, and made reductions in its holdings of computer and printer maker HP and media company Paramount Global. It is worth noting that Berkshire has obtained permission from the U.S. Securities and Exchange Commission to temporarily keep some of its holdings confidential for the second consecutive quarter. This suggests that Berkshire may be making significant undisclosed investments, as it has done in the past with Chevron, Exxon Mobil, IBM, and Verizon Communications.
The conglomerate did not provide any information about its latest confidential investment or respond to requests for comment. It is clear, however, that Berkshire no longer invests in Exxon, IBM, and Verizon. Berkshire Hathaway owns a diverse array of businesses, including Geico car insurer, BNSF railroad, energy and industrial companies, and several well-known consumer brands.
More details about Berkshire’s investment moves and its various businesses are expected to be revealed in its upcoming annual report and Warren Buffett’s annual letter to shareholders on February 24th. Investors and analysts eagerly await these updates in order to gain insights into Berkshire’s strategies and perspectives on the market.
The source of the article is from the blog lokale-komercyjne.pl