SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Technical analysis for shorts & longs
SPY 362.79-2.1%Sep 30 4:00 PM EDT

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Johnny Canuck who wrote (55244)5/16/2022 3:26:42 PM
From: Johnny Canuck  Read Replies (1) of 55795
 
Berkshire Filing Should Reveal if It Sold Verizon Stock in First Quarter
Published: May 16, 2022 at 2:38 p.m. ET
By Andrew Bary

Berkshire Hathaway had more than $8 billion worth of Verizon Communications stock at the end of 2021.

Berkshire Hathaway was more active than ever in the stock market during the first quarter. A securities filing expected late Monday will detail what the company has been up to, including whether it sold shares of Verizon Communications.
In early May, Berkshire Hathaway (ticker: BRK.A, BRK.B) said in its 10-Q filing with the Securities and Exchange Commission that it bought $51.1 billion of stocks in the first quarter and sold $9.7 billion of equities. The company has detailed some of the moves, but not all.
Among those that are on the public record is a buy of about 121 million shares
of Chevron (CVX), which lifted Berkshire’s investment in the company to about 159 million shares worth $25.9 billion on March 31.
Barron’s has written based on analysis of the 10-Q that Berkshire’s big sale in the first quarter could have been Verizon Communications (VZ). Berkshire held 158 million shares of the telecom company worth $8.3 billion at year-end.
We speculated that Verizon was sold in part because Berkshire’s sales for the quarter generated losses of about $700 million, which would line up with the potential loss that Berkshire would take if it had unloaded the Verizon stake, or a good chunk of it, in the first quarter. None of the other big Berkshire equity holdings at year-end 2021, including Apple (AAPL), Bank of America (BAC) and Coca-Cola (KO), were showing a loss.
Berkshire also was a buyer of nearly $10 billion of financial stocks based on the 10-Q. The company’s 13-F filing due after the close of trading Monday should detail some of those purchases.
Berkshire bought about $5 billion of overseas stocks in the first quarter, CEO Warren Buffett said at Berkshire’s annual meeting on April 30. Those buys likely won’t appear in the 13-F because those filings generally don’t include foreign stocks.
Berkshire’s purchases of about $8 billion of Occidental Petroleum and $4 billion of HP (HPQ) during the first quarter have already been disclosed because the company owns more than 10% of those stocks. SEC rules require purchasers to promptly disclose holdings above that level.
Write to Andrew Bary at andrew.bary@barrons.com

archive.ph
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext