Earlier, Berkshire appears to have sold about 115 million shares, or 13% of its holdings, in the quarter, ending with about 790 million.
Warren Buffett’s Berkshire Hathaway finally disclosed a name of the company wherein it has invested billions of dollars. There were several speculations about the company’s investment and many guessed different names. Now finally Berkshire Hathaway has disclosed a major stake in the insurance company Chubb and revealed the investment they had kept secret since last year, reported CNN.
Berkshire also revealed that it acquired nearly 26 million shares of Chubb, in its filing with the Securities and Exchange Commission for the company’s first quarter investments. It approximately values $6.7 billion.
Buffett’s company had kept it secret from public knowledge as it was building the stake and called it “confidential treatment” in its previous filings.
Chubb, an insurance business that operates in 54 countries, the company underwrote President Donald Trump’s nearly $92 million appeal bond in E. Jean Carroll’s defamation lawsuit, claimed the report.
Berkshire Hathaway Reduced Stake In Apple
Berkshire Hathaway significantly reduced its enormous stake in Apple in the first quarter, as Warren Buffett‘s conglomerate let its cash hoard swell to a record $189 billion.
Buffett‘s company also posted a record operating profit exceeding $11 billion, as its insurance operations benefited from improved underwriting and higher income from investments as interest rates rose.
The value of Berkshire’s stake in Apple fell 22% to $135.4 billion as of March 31 from $174.3 billion at the end of 2023, even though the iPhone maker’s share price fell just 11% in the quarter.
Warren Buffett On India
Earlier this month, Legendary investor and Berkshire Hathaway Chairman and CEO Warren Buffett was bullish on India. Presiding over the company’s annual meeting on Sunday, the nonagenarian investor said there are loads of opportunities in India.
To a question on whether his company Berkshire was actively looking for opportunities in India, Buffett, without getting into specifics, said there are unexplored or unattended to opportunities and areas in India.”
Berkshire Hathaway’s business and investment model is focused on acquiring and managing businesses across multiple industries.
(With Inputs From Agencies)