Berkshire Trims Some Holdings; Silent On New Investment

(RTTNews) - Warren Buffett's company Berkshire Hathaway (BRK.A) made significant reductions in the fourth quarter to three long-standing investments: Apple, HP, and Paramount Global.

The company decreased its Apple holdings by nearly 10 million shares, equating to a value of close to $2 billion. Despite this reduction, Berkshire still retained over 900 million shares of the tech giant at the close of 2023. The decision to decrease its stake in Apple has raised concerns about the company's stock.

Additionally, Berkshire sold off the majority of its HP shares, reducing its position by approximately 80 million shares, leaving around 23 million shares.

The company also scaled down its investment in Paramount Global by about 30 million shares, holding approximately 63 million shares.

On the other hand, Berkshire acquired 16 million shares of Chevron and 19 million shares of Occidental Petroleum, both energy companies. Furthermore, Berkshire added roughly 30 million shares of Sirius XM.

The company's most significant divestments included nearly 11 million shares of StoneCo and almost 6 million shares of D.R. Horton.

Berkshire also closed out its smaller stakes in insurance companies Globe Life and Markel.

For the second consecutive quarter, Berkshire was granted permission from the U.S. Securities and Exchange Commission to keep one or more holdings confidential temporarily. In its third-quarter report released in November, Berkshire hinted at a confidential investment in the bank, finance, or insurance sector, having recently invested $1.2 billion in stocks from that industry. The company has yet to disclose the specific destination of these funds.

More insights into Berkshire's investments and operations will be unveiled upon the release of its annual report and Buffett's annual letter to shareholders, anticipated on Feb. 24.