Buffett Reduced Apple, Increased Verizon and Chevron Holdings

[Image source=AP Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] Berkshire Hathaway, led by Warren Buffett, reduced its Apple shares in the fourth quarter of last year while significantly increasing its holdings in telecommunications company Verizon and oil company Chevron.

According to U.S. economic media Business Insider and Bloomberg on the 16th (local time), Berkshire Hathaway reported to authorities that as of the end of last year, it held $8.6 billion (approximately 9.5 trillion KRW) worth of Verizon shares and $4.1 billion (approximately 4.5 trillion KRW) worth of Chevron shares.

Berkshire Hathaway began purchasing these stocks from the third quarter of last year but delayed the disclosure of the purchases after obtaining approval from the Securities and Exchange Commission (SEC), announcing them this time.

It also increased its pharmaceutical stocks, buying additional shares of AbbVie, Merck, and Bristol-Myers Squibb. However, it disposed of its Pfizer shares.

On the other hand, it reduced its Apple shares. Apple stock accounted for 48% of Berkshire Hathaway's portfolio as of the end of September last year, but Business Insider reported that this decreased to 44% within three months.

It sold all its shares in banks JP Morgan Chase and PNC Financial and sold more than half of its holdings in Wells Fargo. Conversely, it newly purchased $499 million (approximately 552.6 billion KRW) worth of shares in insurance brokerage firm Marsh & McLennan.

Berkshire Hathaway explained, "To secure investment capacity, we reduced the scale of investments in several companies, including Apple, last year."

This content was produced with the assistance of AI translation services.