Warren Buffett's Berkshire Confirms Apple Sale, Sells This PC Maker, Finally Reveals Mystery Stocks: Here Are the Portfolio Changes You Should Know - Latest Global News

Warren Buffett’s Berkshire Confirms Apple Sale, Sells This PC Maker, Finally Reveals Mystery Stocks: Here Are the Portfolio Changes You Should Know

Warren Buffett’s Berkshire Confirms Apple Sale, Sells This PC Maker, Finally Reveals Mystery Stocks: Here Are the Portfolio Changes You Should Know

Investment guru Warren Buffett confirmed his circumcision on Wednesday Apple Inc. (NASDAQ:AAPL) share and finally sheds light on his company’s mysterious stock, Berkshire Hathaway, Inc. (NYSE:BRK) (NYSE:BRK), accumulated before the first quarter.

Apple, chevron trimmed: Berkshire reduced its Apple position by just over 116 million.

The company now owns 789,368,450 Apple shares worth $135.36 billion, according to a 13F filing. This is the second quarter in a row that the Buffett-led company has diluted its Apple stake.

The iPhone maker remains Berkshire’s largest holding.

Earlier this month, Buffett said at Berkshire’s annual shareholder meeting that the dilution had to do with paying taxes and a desire to hold more cash due to economic uncertainties.

After adding 15.9 million Chevron Corp. (NYSE:CVX) shares in the fourth quarter, the company sold 3.1 million shares of the oil giant in the first quarter. The latest 13F showed that Berkshire owned 112.98 million shares worth $305.70 million.

But Berkshire added 4.32 million shares Occidental Petroleum Corp. (NYSE:OXY) with a current share of 248.02 million.

Berkshire retained ownership of its other three core holdings:

  • Bank of America, Inc. (NYSE:BAC): 1.03 million shares worth $39.17 billion

  • American Express Co. (NYSE:AXP): 151.61 million shares worth $34.52 billion

  • Coca-Cola Co. (NYSE:KO): 400 million shares worth $24.47 billion

See also: The Best Growth Stocks Right Now

Mystery Stock Revealed: Berkshire also finally revealed the mystery stock it had previously been exploring. The company bought a large part of it Chubb Limited (NYSE:CB) shares.

Berkshire acquired 25.92 million shares of the property and casualty insurer, valued at $6.72 billion. This stake gives Berkshire a 6.4% stake in the insurer (based on 406 million shares outstanding).

Insurance is an important sector in Berkshire’s portfolio. Other investments include the car insurer GEICOreinsurance company General subject And Alleghany Corporationa holding company of property and casualty reinsurance and insurance subsidiaries.

HP share dropped: Berkshire cashed in HP Inc. (NYSE:HPQ) in the first quarter. The company sold all 22.85 million shares (worth $687.64 million) of the computer and peripherals maker it owned in the fourth quarter.

Other disposals: Among the other portfolio shares, the following fixed shares were sold:

Actual position
(number of shares)

QoQ change

Louisiana Pacific Corporation (NYSE:LPX)

6.60 million

-6.34%

Paramount Global (NASDAQ:PARA)

7.53 million

-88.11%

Sirius XM Holdings Inc. (NASDAQ:SIRI)

36.68 million

-8.85%

Buffett gave a preview of this at the shareholders meeting Paramount Global Sales and took responsibility for focusing the investment.

“It was 100% my decision, we sold everything and lost a lot of money,” he said.

Berkshire Hathaway’s Class A shares were little changed at $413.01 in premarket trading, according to Benzinga Pro.

Now read: Bill Ackman’s Pershing Square Q1 shakeup: Household retailer dismissed, stakes in hot restaurants slashed and juggled with a ‘Magnificent 7’ stance

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This article: Warren Buffett’s Berkshire Confirms Apple Sale, Sells This PC Maker, Finally Reveals Mystery Stock: Here Are the Portfolio Changes You Should Know. It originally appeared on Benzinga.com

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