OMAHA, Neb. — Warren Buffett’s company made major new investments in Verizon and Chevron and again trimmed its huge stake in Apple while making several other adjustments to its stock portfolio last year.
Berkshire Hathaway Inc. said in regulatory filings Tuesday that it bought $8.6 billion worth of Verizon stock and picked up $4.1 billion worth of Chevron shares over the last six months of 2020. Berkshire’s holdings are followed closely because of Buffett’s remarkably successful investing record.
Berkshire bought nearly 147 million Verizon shares, but the Securities and Exchange Commission allowed Buffett to delay disclosing the new stake in the cellphone giant while his company was building the stake. Separately, Berkshire also more than doubled the size of a smaller investment in competitor T-Mobile during the fourth quarter, which now includes 5.2 million shares worth roughly $700 million.
Berkshire was also able to delay reporting its new investment in Chevron. Buffett’s company now holds 48.5 million shares of the oil industry giant.
In addition to those large new investments, Berkshire also revealed a new stake in professional services firm Marsh & McLennan that’s worth roughly $499 million.
Berkshire officials don’t generally comment on these quarterly filings. And the document doesn’t make clear which investments Buffett made. The billionaire handles the biggest investments in Berkshire’s portfolio, such as Apple, Coca-Cola and Bank of America. He has said that investments of less than $1 billion are likely to be the work of Berkshire’s two other investment managers.
For the second quarter in a row, Berkshire reduced its giant investment in Apple, but the tech giant remains Berkshire’s largest holding worth roughly $109 billion. Berkshire still holds 944 million shares of the iPhone maker.
In addition to the three new investments, Berkshire also added to its relatively new holdings in drugmakers Bristol Myers Squibb, Abbvie and Merck. Those were all first disclosed last fall. Berkshire also increased its investment in Kroger, so his stake in the grocery giant is now worth just over $1 billion.
Buffett’s company slashed its holdings in Wells Fargo even further in the fourth quarter down to 52 million shares from what was once a 10% stake in the bank. Berkshire also eliminated investments in JP Morgan Chase, M&T Bank and Barrick Gold.
In addition to investments, the Omaha, Nebraska-based Berkshire owns more than 90 companies outright, including BNSF railroad, Geico insurance and several major utilities. The conglomerate also owns manufacturing, furniture, shoe, jewelry, chocolate, underwear and brick companies.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
