Berkshire reduced its Apple holdings in the first quarter, and it is still the number one position. The mysterious position has finally come to light

wallstreetcn ·  May 16 07:01

Buffett's Berkshire Hathaway holds nearly 26 million shares of the insurance company Chubb, with a total value of about 6.7 billion US dollars. The property and casualty insurance company had become Berkshire's ninth largest stock by the end of March. Previously, the company had been hidden from regulatory documents for three consecutive quarters.

After three consecutive quarters of secrecy, Berkshire Hathaway finally unveiled its mysterious stock in a regulatory document, announcing that it had invested heavily in an insurance company$Chubb Ltd (CB.US)$.

Regulatory documents released after the US stock market on Wednesday show that by the end of March, Berkshire had purchased nearly 26 million shares of the Zurich-based insurance company Chubb, with a holding value of about 6.7 billion US dollars. This made Chubb the ninth largest stock in Berkshire by the end of March.

After the news was announced, Chubb's stock once rose more than 7% in after-hours trading, and its stock price has increased by about 12% since the beginning of the year.

Previously, Berkshire Hathaway was allowed not to disclose the details of this investment. Even at Buffett's shareholders' meeting earlier this month, this topic was not mentioned. In fact, Berkshire rarely applies for confidential treatment. The last time they did this was in 2020, when they bought$Chevron (CVX.US)$und$Verizon (VZ.US)$The stock.

Many people originally speculated that Berkshire might be buying bank stocks because the company's earnings report showed that after an increase of 3.59 billion US dollars in the second half of last year, Berkshire Hathaway's investment costs in “banking, insurance, and finance” stocks increased by another 1.4 billion US dollars in the first quarter of this year.

Furthermore, data shows that Buffett's Berkshire Hathaway reduced its holdings in the first quarter$Apple (AAPL.US)$However, it is still the most heavily held stock. The increase in financial stock holdings surpassed that of other sectors, and the market value of disclosed investments fell by 4.5%.


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