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17. Berkshire Hathaway (BRK.B)

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What Buffett's Berkshire Bought, Sold in Q2

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Berkshire Hathaway Inc. eliminated a Verizon Communications Inc. stake in the second quarter as the conglomerate run by billionaire Warren Buffett made tweaks to its portfolio and dialed back on stock purchases.

Berkshire boosted other bets during the second quarter.

Its stake in media company Paramount Global is currently valued at about $2.1 billion, and an investment in chemical maker Celanese Corp. is at almost $1.1 billion, according to a filing Monday.

The company had reported a Verizon holding of 1.38 million shares three months earlier.

Buffett’s firm made $3.8 billion in net stock purchases during the second quarter, down from $41 billion in the prior period. The company also spent less on share repurchases in the second quarter.

Berkshire increased its stake in Occidental Petroleum Corp. more than it did any other firm, but the latest filing doesn’t reflect the full scope of that bet. The conglomerate reported last week that its stake in the energy firm had climbed to 188 million shares, more than 20% of shares outstanding.

The company also continued to refine its bet on the financial sector, increasing its stake in Ally Financial Inc. for a holding valued at about $1 billion. At the same time, it reported holding 6.6 million fewer U.S. Bancorp shares.

Apple Inc. remains Berkshire’s largest holding. The conglomerate added 3.9 million shares during the quarter, bringing the value of its bet on the iPhone maker to more than $150 billion.

(Image: Shutterstock)

 

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