{"id":48426,"date":"2023-08-14T23:05:39","date_gmt":"2023-08-15T03:05:39","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/berkshire-hathaway-buys-stake-in-d-r-horton-stock-cuts-gm-holding\/"},"modified":"2023-08-14T23:05:42","modified_gmt":"2023-08-15T03:05:42","slug":"berkshire-hathaway-buys-stake-in-d-r-horton-stock-cuts-gm-holding","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=48426","title":{"rendered":"Berkshire Hathaway Buys Stake in D.R. Horton Stock, Cuts GM Holding"},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

\n Berkshire Hathaway
\n took new equity positions in home-building,\u00a0notably industry leader
\n D.R. Horton,<\/span>
\n while reducing its stake in
\n General Motors
\n and eliminating a holding in
\n McKesson,<\/span>
\n according to a 13-F regulatory filing released late Monday.<\/p>\n

During the second quarter, Berkshire also added to its holding in
\n Capital One Financial
\n and reduced its position in
\n Celanese.<\/span>\n <\/p>\n

\n

Berkshire Hathaway (ticker: BRK\/A, BRK\/B) pared its holding in General Motors (GM) by 45% to 22 million shares now worth about $750 million. That holding, which dates back almost a decade, hadn\u2019t been particularly profitable for Berkshire given its cost of around $30 a share.\u00a0GM is currently trading around $34 a share. <\/p>\n

The GM investment is believed to have been made by one of CEO Warren Buffett\u2019s two investment lieutenants, Todd Weschler and Todd Combs, rather than by Buffett, who oversees about 90% of Berkshire\u2019s equity portfolio of about $350 billion. Buffett isn\u2019t enamored of the highly competitive auto business.<\/p>\n

Buffett likes the home-building industry and Berkshire took a stake of about 6 million shares of D.R. Horton (DHI), the country\u2019s largest home builder, that\u2019s now worth over $700 million. Berkshire also took small positions in home builders
\n Lennar
\n (LEN) valued at less than $20 million and
\n NVR
\n (NVR) valued at around $70 million.<\/p>\n

Berkshire owns Clayton Homes, the biggest producer of manufactured homes, and owns other housing-related businesses, including Shaw, a maker of carpeting and flooring, and Benjamin Moore in paints.<\/p>\n

Berkshire lifted its stake in Capital One by about 25% to 12.5 million shares worth around $1.4 billion and eliminated a holding in McKesson\u2014some 2.3 million shares\u2014that had totaled about $one billion. Berkshire reduced its holding in Celanese by about 40% to 5.4 million shares now worth around $670 million.\u00a0<\/p>\n

The Berkshire 13-F includes U.S. equity holdings and an occasional foreign investment. There also apparently were sales of overseas stocks in the second quarter given that Berkshire disclosed total equity sales of about $12 billion in the period based on its recent 10-Q report. The reported sales in the 13-F don\u2019t total $12 billion.<\/p>\n

Berkshire left unchanged its stake of 93 million shares of
\n Paramount Global
\n (PARA) in the second quarter. Barron\u2019s speculated in a recent article that Berkshire might have been a seller of the media company\u2019s stock given critical comments by Buffett in the spring about its streaming prospects. He said streaming is\u00a0\u201cnot really a very good business\u201d in a CNBC interview. It\u2019s possible that the Paramount stake is held by Berkshire managers Combs or Weschler rather than Buffett.<\/p>\n

Berkshire is the largest holder of Paramount with a stake of worth about $1.4 billion. Berkshire owns around 15% of Paramount.<\/p>\n

Write to Andrew Bary at andrew.bary@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Berkshire Hathaway took new equity positions in home-building,\u00a0notably industry leader D.R. Horton, while reducing its stake in General Motors and eliminating a holding in McKesson, according to a 13-F regulatory filing released late Monday. During the second quarter, Berkshire also added to its holding in Capital One Financial and reduced its position in Celanese. Berkshire […]<\/p>\n","protected":false},"author":1,"featured_media":48427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-48426","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nBerkshire Hathaway Buys Stake in D.R. 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