{"id":84928,"date":"2023-11-15T14:20:19","date_gmt":"2023-11-15T19:20:19","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/berkshire-hathaways-stock-buys-and-sells-included-one-mystery-move\/"},"modified":"2023-11-15T14:20:20","modified_gmt":"2023-11-15T19:20:20","slug":"berkshire-hathaways-stock-buys-and-sells-included-one-mystery-move","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84928","title":{"rendered":"Berkshire Hathaway’s Stock Buys and Sells Included One Mystery Move"},"content":{"rendered":"
\n

Berkshire Hathaway sold off its remaining holdings of
\n General Motors
\n in the third quarter as the car maker\u2019s shares retreated. The Warren Buffett-led conglomerate also asked the Securities and Exchange Commission that one or more of its equity holdings be kept confidential and omitted those holdings from its 13-F filing. <\/p>\n

There is a good chance the mystery stock or stocks are financials.
\n Berkshire
\n (ticker: BRK.A\/BRK.B) disclosed in its recent 10-Q that its holdings in financial stocks went up by $1.2 billion in the quarter and no additions to financial stocks were disclosed in the 13-F filing released late Tuesday.<\/p>\n

\n

Buffett occasionally requests confidentiality when Berkshire accumulates stocks and doesn\u2019t want to tip off the markets.\u00a0Berkshire did so in late 2020 when the company was accumulating stakes in
\n Chevron
\n (CVX) and
\n Verizon Communications
\n (VZ).<\/p>\n

It\u2019s notable that Buffett is requesting confidentiality on what is a small holding for Berkshire\u2014probably around $1 billion\u2014against a total equity portfolio of around $350 billion. Buffett doesn\u2019t like to reveal more than he has to about Berkshire\u2019s moves in the stock market. It\u2019s unusual for big investors to request confidentiality and sometimes the SEC doesn\u2019t grant the requests.<\/p>\n

According to the 13-F filing, Berkshire no longer held GM stock at the end of the third quarter. Shares of the auto maker have dropped 16% since the start of the year. The Detroit-based company also faced worker strikes that recently ended.\u00a0<\/p>\n

\n Berkshire
\n also sold off some of its smaller holdings, including positions in
\n Procter & Gamble
\n (PG),
\n Mondelez International
\n (MDLZ), and
\n United Parcel Service
\n (UPS). It reduced its holdings in
\n HP
\n (HPQ) and oil major
\n Chevron.<\/span>
\n \u00a0<\/p>\n

Berkshire showed new positions in Liberty Live tracking stock in both the
\n class A voting shares
\n (LLYVA) and
\n nonvoting shares
\n (LLYVK). Those holdings, totaling 16 million shares, were the result of a spinoff in August from Liberty SiriusXM tracking stock in which Berkshire holds about 63 million shares. Each Liberty SiriusXM holder got 0.25 shares of the Liberty Live tracker for each share of Liberty SiriusXM share.<\/p>\n

Berkshire watchers believe the Liberty SiriusXM holding was initiated by Ted Weschler, one of two investment managers who works with Buffett. Weschler and Todd Combs, another Berkshire manager, run about 10% of the Berkshire equity portfolio and often operate independently of Buffett.<\/p>\n

Berkshire initiated a new position in
\n Sirius XM
\n (SIRI) worth $44 million. Shares jumped 8% on Wednesday. That position was also likely initiated by Weschler. <\/p>\n

The filing also shows a new holding of about 223,000 shares in
\n Atlanta Braves Holdings
\n (BATRK) that likely came from a spinoff from the Liberty Formula One tracker held by Berkshire.<\/p>\n

These moves were orchestrated by
\n Liberty Media,<\/span>
\n which is controlled by media mogul John Malone. The various trackers are under the Liberty Media umbrella of companies.<\/p>\n

Berkshire\u2019s stake in
\n Apple
\n (AAPL), which accounts for 50% of Berkshire\u2019s portfolio, dropped to $157 billion from $176 billion in the quarter, though Berkshire neither bought nor sold shares of the company.\u00a0It also kept other top holdings of
\n Bank of AmericaCorp<\/span>
\n (BAC),
\n American Express
\n (AXP), and
\n Coca-Cola
\n (KO) unchanged.<\/p>\n

Billionaire investor Buffett and Berkshire Hathaway largely sat out of the stock market in the quarter. The company sold $7 billion in shares and bought $1.7 billion in the third quarter. In the first nine months of the year, it was a net seller of about $23 billion in shares, compared with being a net buyer of $49 billion in the first nine months of 2022.\u00a0<\/p>\n

At the end of September, Berkshire was sitting on a record $157 billion in cash and equivalents, up from almost $10 billion at the end of June. It also bought back $1.1 billion of its own shares.<\/p>\n

Write to Andrew Bary at andrew.bary@barrons.com and Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

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

Berkshire Hathaway sold off its remaining holdings of General Motors in the third quarter as the car maker\u2019s shares retreated. The Warren Buffett-led conglomerate also asked the Securities and Exchange Commission that one or more of its equity holdings be kept confidential and omitted those holdings from its 13-F filing. There is a good chance […]<\/p>\n","protected":false},"author":1,"featured_media":84929,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-84928","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nBerkshire Hathaway's Stock Buys and Sells Included One Mystery Move | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Berkshire Hathaway sold off its remaining holdings of General Motors in the third quarter as the car maker\u2019s shares retreated. 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