Buffett's mysterious holdings have been revealed.
On Wednesday, May 15th local time, Berkshire Hathaway, a subsidiary of Buffett, submitted a 13F US stock holdings file, which showed that Berkshire held 25.92 million shares of Insurance Chubb in the first quarter, with a market value of over 6.7 billion US dollars (approximately 48.5 billion yuan). Previously, Berkshire obtained permission from the US Securities and Exchange Commission to keep the position confidential in its documents for the third and fourth quarters of 2023.
In addition, in the first quarter, Berkshire increased its holdings of 4.3 million shares in Western Oil, cleared its position in HP, and reduced its holdings of 116 million shares in Apple, reducing its holdings to 41%. As of the end of the first quarter, Berkshire's total market value of holdings was $332 billion, and its market value of Apple stocks was $135.4 billion.
"Mysterious Holding" Unveils
Berkshire disclosed a new $6.7 billion position in Anda Insurance, accounting for approximately 2% of the total investment portfolio. Affected by this news, as of press release, Anda Insurance has risen by over 8% after market hours. It is reported that Berkshire began purchasing the stock in the third quarter of 2023, after obtaining permission from the US Securities and Exchange Commission to keep the position confidential in its documents for the third and fourth quarters of 2023.
David Cass, a finance professor at the Robert H. Smith School of Business at the University of Maryland, explained to Berkshire that he wanted to keep a secret while accumulating large positions, "Millions of people are following Buffett's approach, and Buffett is more sensitive to this issue than others."
(Anda Insurance warehouse building path. Source/13f. info)
Public information shows that Anda Insurance mainly provides products such as family insurance, car insurance, and liability insurance, and has now developed into one of the world's largest insurance companies. The company is led by CEO Evan Greenberg and has approximately 40000 employees.
According to 13f.info data, Berkshire began building positions in the third quarter of 2023. In the third quarter of 2023, Berkshire held approximately 8.1 million shares of Anda Insurance, and in the fourth quarter, Berkshire held approximately 20 million shares of Anda Insurance. The latest position data for the first quarter of 2024 shows that Berkshire already holds 25.92 million shares of Anda Insurance, with a market value of over 6.7 billion US dollars.
"Anda Insurance is an attractive equity investment for Berkshire because it operates a business that Berkshire is familiar with - property casualty insurance," said Casey Severt, a CFRA research analyst responsible for Berkshire Hathaway's business in an email.
Kathy Severt also stated that due to Anda Insurance's focus on commercial and professional insurance, it will be very suitable for Berkshire's insurance and reinsurance investment portfolio.
Apple remains the top holding stock
According to the latest Berkshire investment portfolio, the top ten holdings of the portfolio are approximately 91.1%. From high to low positions, they are Apple, Bank of America, American Express, Coca Cola, Chevron, Western Oil, Kraft Heinz, Moody's, Anda Insurance, and DeWitt.
(Top 10 positions. Source 13f. info)
Berkshire reduced its stake in its largest holding company, Apple Inc., by approximately 13% in the first quarter. As of the end of March, Berkshire sold approximately 116 million shares and currently holds approximately 789.4 million shares worth over $135 billion. Buffett told shareholders at Berkshire's annual shareholders meeting earlier that he expects Apple to remain Berkshire's largest shareholder in the coming years. Currently, Apple remains the largest target in the investment portfolio, accounting for 41%.
According to the documents, Berkshire completely cleared the shares of computer and peripheral equipment manufacturer HP in the first quarter, selling over 22 million shares of HP stock. Berkshire has been reducing its holdings in the stock in recent quarters.
Berkshire also reduced its existing holdings in energy giant Chevron by approximately 2.5%. As of the end of the first quarter, Berkshire currently holds approximately 123 million shares worth approximately $19.4 billion.
Berkshire reduced its stake in satellite broadcasting provider Sirius XM Holdings by approximately 9% in the first quarter. As of the end of March, Berkshire currently holds approximately 36.7 million shares worth approximately $142.3 million.
Berkshire reduced its stake in Louisiana Pacific Corp by approximately 6% in the first quarter. As of the end of March, holding approximately 6.6 million shares worth approximately $553.6 million.
In terms of holdings, Berkshire increased its holdings of approximately 13 million Liberty Media Corporation Class A shares and approximately 22 million Class C shares in the first quarter. As of the end of March, the value of the merged shares was approximately $2.9 billion.
Berkshire also slightly increased its stake in Western Oil in the first quarter. As of the end of March, Berkshire's holdings increased by nearly 2%, holding over 248 million shares worth approximately $16.1 billion.
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