Warren Buffett's firm, Berkshire Hathaway, made significant reductions to three of its long-standing investments in the fourth quarter: Apple, HP, and Paramount Global.
Berkshire reduced its holdings in Apple by almost 10 million shares, which represents an approximate value of just under $2 billion. Despite this, the firm still held over 900 million shares in the tech company at the end of 2023. This reduction in Apple shares has stirred some concerns over the status of the company's stock.
In addition, Berkshire significantly reduced its stake in HP by selling off roughly 80 million shares, leaving it with around 23 million. It also reduced its investment in Paramount Global, trimming it down by about 30 million shares and retaining roughly 63 million.
Conversely, Berkshire increased its shares in the energy sector by acquiring 16 million Chevron shares and 19 million Occidental Petroleum shares. It also added an estimated 30 million shares of Sirius XM into its portfolio.
The firm's largest divestments involved selling almost 11 million shares of StoneCo and just under six million shares of D.R. Horton. Berkshire also completely sold its minor stakes in the insurance companies Globe Life and Markel.
For the second quarter running, the U.S. Securities and Exchange Commission granted Berkshire permission to temporarily keep some holdings confidential. In a report released in November, the company hinted at a secret investment in the banking, finance, or insurance sector, having recently poured $1.2 billion into stocks from that industry - the specific destination of these funds, however, has not been disclosed.
More light is expected to be shed on Berkshire's investments when it releases its annual report and Buffett's annual shareholder letter, which is slated for February 24.
