The Berkshire Hathaway group, the financial conglomerate created by Warren Buffet, has raised a stake of 4.3 billion dollars, the equivalent of 3.7 billion euros, in Alphabet, Google’s parent company, according to its list of investments for the last quarter communicated by the company to the United States stock exchange regulator (SEC). At the same time, it reduced its stake in Apple and Bank of America.
With more cash than ever, the Omaha, Nebraska-based group is looking for buying opportunities at a time when the market is soaring due to the volatility created by the rise of artificial intelligence (AI).
The group created by the financier, nicknamed the Oracle of Omaha Due to his accurate investments, he has reduced his investment in Apple. This is the last list of his investment portfolio before Buffett leaves the position of chief executive of the company after 60 years as CEO and makes way for the current vice president of the company, the Canadian Greg Abel.
In Form 13F, the document where companies have to register their financial investments to the Securities and Exchange Commission (SEC), the group created from a small textile company in Rhode Island, has revealed 17.85 million shares of Alphabet valued at 4,338 million dollars.
Berkshire Hathaway is one of the largest financial conglomerates in the world, with stakes in Apple, Coca-Cola, American Express, Bank of America and Chevron among others, from which they obtain large dividends and juicy appreciations on the stock market.
In the same form, Berkshire Hathaway shows a 15% reduction in its stake in Apple to 238.2 million shares from the 280 million recorded in the third quarter. Its current participation is valued at about 60,656 million dollars. At the time, Buffet’s group owned 905 million Apple shares. Even though it has reduced its exposure to the iPhone maker, the investment in the company founded by Steve Jobs still represents almost a quarter of Berkshire’s stock portfolio. Buffet has always considered Apple more of a consumer goods company than a technology company.
Form 13F includes significant stakes in 37 companies with a total valuation of $267,335 million as of September 30 of this year.
The financial giant holds 10 million Amazon shares worth $2.195 billion. His main bet continues to be American Express, a company in which he has shares valued at more than 50,000 million.
Buffett’s investment group reached a new record in its cash accumulation in the third quarter. The conglomerate’s liquidity position reached $381.7 billion, according to results presented last week.
The Omaha, Nebraska-based conglomerate recently closed a deal to buy Occidental Petroleum’s petrochemical business for $9.7 billion and acquired a $1.6 billion stake in UnitedHealth Group, Bloomberg explains.
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