Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) recently shed light on the secret stock it had been purchasing for the past three quarters – Chubb (NYSE:CB), a property and casualty insurer. It is worth noting that, following the disclosure, CB stock gained over 8% in the extended trading session yesterday.
In its most recent 13F filing, Berkshire disclosed the purchase of about 26 million shares of Chubb valued at $6.7 billion as of March 31, 2024. CB currently stands as Berkshire’s ninth-largest holding.
In its last two filings, Buffett asked the Securities and Exchange Commission (SEC) to maintain confidentiality regarding its stake in Chubb. He did this because he didn’t want to overpay for the CB stock. Buffett’s concern was that if his stake became public, other investors might follow suit, driving stock prices higher.
Berkshire’s Portfolio Changes in Q1
During the first quarter, the conglomerate sold its entire holdings in HP Inc. (HPQ). Also, Berkshire reduced its investments in Apple (AAPL) and Chevron (CVX) by 13% and 4%, respectively. Moreover, it sold 55.8 million Paramount Global (PARA) shares in Q1.
On the other hand, Berkshire increased its holdings in its long-time favorite Occidental Petroleum (OXY) by 4.3 million shares.
The market value of Berkshire’s equity portfolio based on the latest filing was $331.68 billion as of the end of Q1 2024, down 5.7% compared to $351.9 billion as of the end of the previous quarter.
As of March 31, Apple, Bank of America (BAC), American Express (AXP), Coca-Cola (KO), and Chevron were the top five holdings and accounted for 76.3% of Berkshire’s overall stock portfolio.
Using TipRanks’ Stock Comparison Tool, let’s have a look at Wall Street’s ratings for Berkshire’s top five holdings.
While the purchase or sale of stocks by Buffet’s Berkshire might be considered a potential indicator, investors must evaluate multiple parameters when making investment decisions. This is where tools like TipRanks’ Experts Center can be invaluable, providing a comprehensive view for informed investment decisions.
