Warren Buffett took a large stake in Verizon shares while dumping JPMorgan shares completely, according to regulatory documentation that reveals purchases and sales in the fine folders. Berkshire Hathaway (BRKB) equity portfolio.
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In the fourth quarter, Buffett opened up new interests Verizon (VZ), Chevron (CVX), Marsh & McLennan (MMC) and EW Scripps (SSP).
The new stake in Verizon is huge: – Buffett paid $ 8.62 billion for the 147 million shares. It now comprises 3% of the portfolio, which is the number 6 shares according to number of shares held.
Berkshire completely dumped Pfizer (PFE), JPMorgan Chase (JPM), Barrick Gold (GOLD), M&T Bank (MTB) and PNC Financial (PNC).
The conglomerate has a 117% stake in T-Mobile (TMUS), 34% in Kroger (KR), 28% in Merck (MRK), 20% in AbbVie (ABBV), 11% in Bristol-Myers Squibb (BMY) and 1% in RH (RH).
Buffett has a stake in appeal (AAPL) by 6%. It remains the number 1 share in its portfolio at market value and number 2 shares at the number of shares held, at 10.6% of the portfolio. He has a Amazon (AMZN) interest steady.
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Shares in Verizon rose 2.7% and T-Mobile increased 1.1% today in late trading on the stock market. Apple fell 0.1%, while Chevron rose 2.3% after hours. Merck, Bristol Myers and AbbVie all rose 0.3%.
Berkshire Hathaway’s Q4 13-F closes the books on a wild 2020, when Buffett moves a series of surprises. It pledged $ 9 billion in share buybacks in the third quarter and $ 5.1 billion in a major investment shift in the second quarter. He has dumped all of his airline shares, including Delta Luglyne (DAL), as the pandemic traveled through the air.
While shedding or decorating several bank shares, Berkshire’s Buffett plowed in more than $ 2 billion Bank of America (BAC) in Q3, and change it to its number 1 shares according to number of shares.
In other atypical moves, Buffett has taken an interest in a new IPO snowflake (SNOW) while buying a gold stock, Barrick Gold (GOLD), for the first time.
But the buyback and share buybacks meant investors saw something they were not used to: a dip in Berkshire’s cash stack. It rose to $ 145.7 billion in the third quarter from a record high of $ 146.6 billion in the second quarter.
Find Aparna Narayanan on Twitter @IBD_Aparna.
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