Source: Securities Times

Wednesday, May 15, local time, under Buffett$Berkshire Hathaway-A (BRK.A.US)$/$Berkshire Hathaway-B (BRK.B.US)$According to the 13F US stock position documents submitted, Berkshire held 25.92 million shares in the first quarter$Chubb Ltd (CB.US)$The market value of its holdings exceeded US$6.7 billion (approximately RMB 48.5 billion). Previously, Berkshire obtained permission from the US Securities and Exchange Commission to keep the position confidential in documents for the third and fourth quarters of 2023.

Furthermore, Berkshire increased its holdings in the first quarter$Occidental Petroleum (OXY.US)$4.3 million shares, clearance$HP Inc (HPQ.US)$, reduce holdings$Apple (AAPL.US)$At 116 million shares, the share of holdings fell to 41%. As of the end of the first quarter, the total market value of Berkshire's holdings was US$332 billion, and the market value of its Apple stock holdings was US$135.4 billion.

“Mysterious Positions” Unveiled

Berkshire disclosed a new $6.7 billion position with Chubb Insurance, accounting for about 2% of the total investment portfolio. Affected by this news, as of press release, Chubb InsuranceNight plateIt surged nearly 10%.

According to reports, Berkshire began purchasing this stock in the third quarter of 2023. Previously, Berkshire obtained permission from the US Securities and Exchange Commission to keep the position confidential in documents for the third and fourth quarters of 2023.

David Cass, a finance professor at the University of Maryland's Robert H. Smith School of Business, explained that Berkshire wanted to confidentially when accumulating large positions: “Millions of people follow Buffett's approach, and Buffett is more sensitive to this problem than others.”

According to public information, Chubb Insurance mainly provides products such as home insurance, auto insurance, and liability insurance, and has now developed into one of the world's largest insurance companies. The company is headed by CEO Evan Greenberg and has around 40,000 employees.

According to 13f.info data, Berkshire began opening positions in the third quarter of 2023. In the third quarter of 2023, Berkshire held about 8.1 million shares of Anda Insurance, and in the fourth quarter, Berkshire held about 20 million shares. According to the latest holding data for the first quarter of 2024, Berkshire already holds 25.92 million shares of Anda Insurance, with a market value of over 6.7 billion US dollars.

“Chubb Insurance is an attractive equity investment for Berkshire because it operates a business that Berkshire is familiar with — property and casualty insurance.” Cathy Seiffert, a CFRA research analyst responsible for Berkshire's Hathaway business, said in an email.

Cathy Seiffert also said that since Chubb focuses on commercial and specialty insurance, this will be a perfect fit for Berkshire's insurance and reinsurance portfolios.

Apple is still the biggest stock

According to the latest Berkshire portfolio, the top ten holdings of this portfolio account for about 91.1%. From highest to lowest position, they are Apple,$Bank of America (BAC.US)$,$American Express (AXP.US)$,$Coca-Cola (KO.US)$,$Chevron (CVX.US)$, Occidental Petroleum,$The Kraft Heinz (KHC.US)$,$Moody's (MCO.US)$, Adachi Insurance,$DaVita (DVA.US)$.

Berkshire reduced its holdings of its largest holding company, Apple, by about 13% in the first quarter. By the end of March, Berkshire had sold about 116 million shares and currently holds approximately 789.4 million shares worth more than $135 billion. Buffett told shareholders at Berkshire's annual shareholders' meeting earlier that he expects Apple to remain Berkshire's largest shareholder in the next few years. Currently, Apple still accounts for the largest share of this investment portfolio, reaching 41%.

Documents show that Berkshire completely emptied its shares in computer and peripheral manufacturer HP in the first quarter and sold more than 22 million HP shares. Berkshire has been reducing its holdings in the stock in recent quarters.

Berkshire also reduced its current holdings in energy giant Chevron by around 2.5%. As of the end of the first quarter, Berkshire currently holds approximately 123 million shares worth approximately $19.4 billion.

Berkshire put it in its satellite broadcast provider in the first quarter$Sirius XM (SIRI.US)$Shares have been cut by about 9%. As of the end of March, Berkshire currently held approximately 36.7 million shares worth approximately US$142.3 million.

Berkshire placed it in the first quarter$Louisiana-Pacific (LPX.US)$Shares were reduced by approximately 6%. As of the end of March, it held approximately 6.6 million shares worth approximately US$553.6 million.

In terms of increasing holdings, Berkshire increased its holdings by about 13 million shares in the first quarter$Liberty SiriusXM Series A (LSXMA.US)$, approximately 22 million shares$Liberty SiriusXM Series C (LSXMK.US)$. As of the end of March, the consolidated shares were worth approximately $2.9 billion.

Berkshire also slightly increased its stake in Occidental Petroleum in the first quarter. By the end of March, Berkshire's holdings had increased by nearly 2%, holding more than 248 million shares worth about US$16.1 billion.

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editor/tolk