① Berkshire opened a position in the first quarter and bought more than 25.92 million shares of Adachi Insurance, with a market value of 6.7 billion US dollars, causing Devitt, who was originally ninth, to slide to tenth; ② Buffett once mentioned that the reduction in Apple stock holdings was due to tax reasons after the investment received considerable returns, not based on a long-term judgment on the stock.
Financial Services Association, May 16 (Editor: Zhao Hao) After the US stock market closed on Wednesday (May 15), Berkshire Hathaway, a company owned by “stock god” Warren Buffett, submitted a position report to the US Securities and Exchange Commission (SEC) as of the end of the first quarter of 2024, which is Form 13F.
Documents show that by the end of the first quarter, Berkshire's overall holdings were US$332 billion, down from US$352 billion in the previous quarter, and the concentration of the top ten major stocks was 91.19%.
According to statistics from the data platform Whalewisdom, Berkshire increased its Q1 holdings by 3 targets, reduced its holdings by 5 targets, added 1 new target (Anda Insurance), and cleared 1 target (HP).
The top eight ranking of the top ten heavy-duty stocks did not change much. The ninth place became the new Chubb Insurance (Chubb). Berkshire opened positions this quarter and bought more than 25.92 million shares of Chubb Insurance. The market value of its holdings reached 6.7 billion US dollars, causing Devitt (4.9 billion US dollars), which was originally ninth, to fall to 10th, and HP, which was originally tenth, was liquidated.
After the release of Form 13F, Chubb Insurance's stock price rose more than 7% after the market. According to information, Chubb Insurance is an insurance company headquartered in Zurich, Switzerland. It operates in 54 countries and regions around the world. It is the largest group of listed product insurance companies in the world, and ranks fifth in market capitalization among listed insurance companies.
Another highlight of the position report is that Berkshire reduced its holdings of Apple shares by 116 million shares, and its share of holdings fell from 50% to around 40%. It should be pointed out that Berkshire sold close to 10 million Apple shares in the fourth quarter of last year.
At the shareholders' meeting at the beginning of the month, Buffett mentioned that the reduction in Apple's stock holdings was due to tax reasons after the investment received considerable returns, not based on a long-term judgment on the stock.
At the time, Buffett also emphasized that Apple is a good business. Unless something particularly important happens, when Abell takes over Berkshire, the company will have shares of Apple, Coca Cola, and American Express on its accounts.
The report also showed that in Q1, Berkshire reduced its holdings of US energy giant Chevron (3.11 million shares), building materials manufacturer Louisiana Pacific (440,000 shares), SiriusXM (3.56 million shares), and Paramount Global B (55.79 million shares), and cleared HP (22.85 million shares).
On the other hand, Buffett increased his bet on Occidental Petroleum and increased his holdings by 4.3 million shares. Buffett mentioned in a shareholder letter released in February that Berkshire is particularly optimistic about Occidental Petroleum's large amount of oil and gas in the US and its leading position in carbon capture, although the economic viability of this technology has yet to be verified.
Buffett also said that by the end of 2023, Berkshire holds 27.8% of Occidental Petroleum's common stock and also has warrants, so they can choose to significantly increase our ownership at a fixed price.
“While Berkshire loves these warrants, Berkshire has no interest in acquiring or managing Occidental Petroleum. ”