(Source- CNBC)
Berkshire Hathaway made notable adjustments to its investment portfolio, shedding a portion of its substantial stake in Apple while divesting from four other common stock holdings, leaving investors pondering over potential new ventures led by Warren Buffett. In a regulatory filing detailing its U.S.-listed stock holdings as of the close of 2023, Berkshire Hathaway Investment disclosed that it sold 10 million Apple shares in the fourth quarter. Despite this reduction, the conglomerate retained ownership of over 905 million Apple shares, valued at approximately $174 billion.
Although Buffett has been instrumental in Berkshire Hathaway Investment in Apple, the decision to sell shares in the tech giant may have been executed by portfolio managers Todd Combs and Ted Weschler, who oversee certain Berkshire investments.
Temporarily withhold disclosure of one or more of its holdings
Furthermore, Berkshire revealed that it no longer held positions in homebuilder DR Horton, insurer Globe Life, insurance and investment company Markel, and Brazilian credit card processor StoneCo, after having holdings exceeding $1 billion in these stocks at the end of September.
Additionally, the Omaha, Nebraska-based conglomerate augmented its investment in oil company Chevron, one of its prominent holdings, while reducing its stakes in computer and printer manufacturer HP and media company Paramount Global. Notably, Berkshire obtained permission from the U.S. Securities and Exchange Commission for a second consecutive quarter to temporarily withhold disclosure of one or more of its holdings.
This request for confidentiality typically occurs when Berkshire is undertaking substantial investments, such as its multibillion-dollar stakes in companies like Chevron, Exxon Mobil, IBM, and Verizon Communications. The conglomerate employs this strategy to prevent investors from preemptively mimicking its actions, considering Buffett’s stature as one of the world’s foremost investors.
In its third-quarter report released in November, Berkshire hinted at a potential investment in the banking, finance, or insurance sector, as it had recently allocated $1.2 billion towards stock purchases within that domain. However, the specific destination of these funds remains undisclosed.
Berkshire Hathaway Investment refrained from immediate commentary in response to requests for clarification. Notably, the conglomerate has ceased investments in Exxon, IBM, and Verizon.
Warren Buffett’s Berkshire Hathaway investments near $1T valuation
The impending release of its annual report
At 93 years old, Buffett continues to steer Berkshire Hathaway since assuming leadership in 1965. As the conglomerate navigates its investment decisions, the market remains intrigued by Buffett’s strategic moves and potential new ventures.
Berkshire Hathaway boasts a diverse portfolio comprising numerous businesses, including household names such as Geico, BNSF Railroad, and Benjamin Moore, among others. The conglomerate’s extensive holdings also encompass energy and industrial companies, along with renowned consumer brands like Dairy Queen, Duracell, Fruit of the Loom, and See’s Candies.
Furthermore, Berkshire Hathaway recently acquired full ownership of the Pilot truck stop chain, having purchased the remaining 20% stake from the billionaire Haslam family in January.
Investors and stakeholders can anticipate further insights into Berkshire Hathaway Investment and operations with the impending release of its annual report and Warren Buffett’s annual letter to shareholders, scheduled for February 24th.
