Berkshire Hathaway bet Warren Buffett on 3 homebuilders

Warren Buffett

Warren Buffett.Photograph: Rick Wilking/Reuters

  • Warren Buffett’s Berkshire Hathaway added three homebuilders to its portfolio last quarter.

  • The investor’s company exited three shares and cut several other deals, SEC filings show.

  • Berkshire also boosted its stakes in Capital One and Occidental Petroleum in the most recent quarter.

Warren Buffett Berkshire Hathaway It trimmed its portfolio of stocks last quarter, replacing three jobs and cutting several existing ones. She also added three homebuilders to her holdings, A.J Securities and Exchange Commission filing revealed on Monday.

The filing showed that the famous investor’s company sold its stakes in McKesson, Marsh & McLennan and Vitesse Energy in the most recent quarter. It also reduced its major stake in Chevron by 7% and cut its bets on Activision Blizzard by 70%, Celanese by 39%, General Motors by 45% and Globe Life by 60%.

On the other hand, Buffett’s company created new positions in three residential construction companies: Lennar, NVR, and DR Horton. These stakes were estimated at $17 million, $71 million, and $726 million, respectively, at the end of June.

Moreover, Berkshire boosted its stake in Capital One by 26% to 12.5 million shares worth $1.4 billion on June 30. First Quartermost likely after Silicon Valley Bank Dramatic breakdown Spooked depositors and buffered regional bank stocks.

Berkshire also boosted Occidental Petroleum’s bet by 7% last quarter, indicating that Buffett and his team are interested in growing their ownership of the oil exploration and product. more than 25%.

The total value of Berkshire’s US stock portfolio jumped 7% to $348 billion during the quarter. That largely reflects a $27 billion increase in the value of its stake in Apple to about $178 billion, as the iPhone maker’s stock has soared over the period. Berkshire owns nearly 6% of Apple and considers the tech giant the most valuable company in its stock portfolio to date.

Buffett’s company has predicted a recent bout of stock sales second quarter earnings. Berkshire indicated that it sold nearly $13 billion in shares and bought less than $5 billion, making it a net seller of shares in that period. Combined with a slowing pace of buybacks, that helped boost Berkshire’s cash pile by 13% to nearly $147 billion.

The billionaire’s recent lack of stock buys, buybacks and big acquisitions suggests he’s struggling to find deals again, after a historic rally in stocks and other assets this year.

Read the original article at Business interested

Leave a Comment