Berkshire Hathaway revealed a $4.3 billion stake in Google parent Alphabet and further reduced its stake in Apple, detailing its equity portfolio for the last time before Warren Buffett ends his 60-year run as chief executive.
In a filing with the Securities and Exchange Commission, Berkshire said it owned 17.85 million Alphabet shares as of Sept. 30.
Berkshire lowered its Apple stake to 238.2 million shares from 280 million within the third quarter, and has now sold nearly three-quarters of the 905 million shares it once held. Apple remained Berkshire’s largest stock holding, at $60.7 billion.
The filing listed Berkshire’s US-listed stock holdings as of Sept. 30, which comprised a lot of the conglomerate’s $283.2 billion equity portfolio.
Berkshire’s investment in Alphabet, which became its 10h-largest US stock holding, is surprising given Buffett’s usual value-investing style and aversion to technology corporations.
Buffett considers Apple, which makes the iPhone, more of a consumer products company.
It shouldn’t be clear whether Buffett, his portfolio managers Todd Combs and Ted Weschler, or CEO-designate Greg Abel make specific purchases, though Buffett normally makes larger investments.
At Berkshire’s annual shareholder meeting in 2019, Buffett and late Vice Chairman Charlie Munger lamented not investing in Google. Buffett said its promoting model bore similarities to what was working for Berkshire’s Geico automotive insurance unit.
“We screwed up,” Munger said.
“He’s saying we blew it,” Buffett responded.
Alphabet shares rose 1.7% in after-hours trading. Stock prices often rise when Berkshire reveals latest stakes, reflecting what investors view as Buffett’s seal of approval.
Berkshire sells more Bank of America
Berkshire bought $6.4 billion of stocks and sold $12.5 billion between July and September, the thirteenth straight quarter it was a net seller of stocks, while money grew to a record $381.7 billion.
Apple can have accounted for three-quarters or more of the sales.
Berkshire also sold 6% of its Bank of America shares, extending selling that began in last 12 months’s third quarter.
The bank remains to be Berkshire’s third-largest stock holding. Berkshire also shed its stake in homebuilder DR Horton, while buying more stock in several corporations including the insurer Chubb and Domino’s Pizza.
Buffett has let money swell as he prepares to show his $1.1 trillion conglomerate over to Abel, now a vice chairman, on January 1.
Investors and analysts have said Omaha, Neb,-based Berkshire has been cautious about valuations, having gone greater than a 12 months since buying back its own stock and nearly a decade and not using a giant acquisition.
Berkshire owns near 200 businesses. These include the BNSF railroad, many energy, industrial and manufacturing corporations, and retail brands comparable to Dairy Queen, Fruit of the Loom and See’s Candies.
Berkshire Hathaway revealed a $4.3 billion stake in Google parent Alphabet and further reduced its stake in Apple, detailing its equity portfolio for the last time before Warren Buffett ends his 60-year run as chief executive.
In a filing with the Securities and Exchange Commission, Berkshire said it owned 17.85 million Alphabet shares as of Sept. 30.
Berkshire lowered its Apple stake to 238.2 million shares from 280 million within the third quarter, and has now sold nearly three-quarters of the 905 million shares it once held. Apple remained Berkshire’s largest stock holding, at $60.7 billion.
The filing listed Berkshire’s US-listed stock holdings as of Sept. 30, which comprised a lot of the conglomerate’s $283.2 billion equity portfolio.
Berkshire’s investment in Alphabet, which became its 10h-largest US stock holding, is surprising given Buffett’s usual value-investing style and aversion to technology corporations.
Buffett considers Apple, which makes the iPhone, more of a consumer products company.
It shouldn’t be clear whether Buffett, his portfolio managers Todd Combs and Ted Weschler, or CEO-designate Greg Abel make specific purchases, though Buffett normally makes larger investments.
At Berkshire’s annual shareholder meeting in 2019, Buffett and late Vice Chairman Charlie Munger lamented not investing in Google. Buffett said its promoting model bore similarities to what was working for Berkshire’s Geico automotive insurance unit.
“We screwed up,” Munger said.
“He’s saying we blew it,” Buffett responded.
Alphabet shares rose 1.7% in after-hours trading. Stock prices often rise when Berkshire reveals latest stakes, reflecting what investors view as Buffett’s seal of approval.
Berkshire sells more Bank of America
Berkshire bought $6.4 billion of stocks and sold $12.5 billion between July and September, the thirteenth straight quarter it was a net seller of stocks, while money grew to a record $381.7 billion.
Apple can have accounted for three-quarters or more of the sales.
Berkshire also sold 6% of its Bank of America shares, extending selling that began in last 12 months’s third quarter.
The bank remains to be Berkshire’s third-largest stock holding. Berkshire also shed its stake in homebuilder DR Horton, while buying more stock in several corporations including the insurer Chubb and Domino’s Pizza.
Buffett has let money swell as he prepares to show his $1.1 trillion conglomerate over to Abel, now a vice chairman, on January 1.
Investors and analysts have said Omaha, Neb,-based Berkshire has been cautious about valuations, having gone greater than a 12 months since buying back its own stock and nearly a decade and not using a giant acquisition.
Berkshire owns near 200 businesses. These include the BNSF railroad, many energy, industrial and manufacturing corporations, and retail brands comparable to Dairy Queen, Fruit of the Loom and See’s Candies.
