Berkshire Hathaway Exits HP (HPQ), Adds Chubb (CB) In Significant 13F Moves

Investment giant Berkshire Hathaway, led by renowned investor Warren Buffett, has made notable changes to its investment portfolio in the first quarter of 2024. The company's latest 13F regulatory filings reveal some shifts as you would expect, but are there any nuggets of wisdom from the firms evolving strategy?

In a significant development, Berkshire Hathaway disclosed a new position in the insurance company Chubb (NYSE: CB), with an investment totalling approximately $6.7 billion and moving the firm into the top 10 of holdings in the portfolio. Additionally, Berkshire Hathaway has significantly bolstered its holdings in Liberty Media, increasing stakes in the Series A and C shares.

However, it wasn't all about increasing stakes. Berkshire scaled down its investment in Apple, the portfolio's largest constituent, by roughly 13 percent, selling off 116.19 million shares. This decision marks a departure from Berkshire's historically bullish stance on the tech giant. It is worth noting that AAPL remains the largest holding, and at a value of $ 135.36B, by more than 3 times that of it's nearest rival BofA.

A couple of other interesting notes on reductions in the portfolio for Berkshire was the complete exit of its position in HP shares (NYSE: HPQ) entirely. Over 22 million shares of the computer and peripheral maker were sold, indicating a full withdrawal from that investment. A drastic reduction was observed in Berkshire's holding in Paramount Global, slashing its position by more than 88 percent. This move comes just two years after establishing the stake in the first quarter of 2022.

Energy investments also saw a reshuffle, with Berkshire reducing its stake in Chevron by approximately 2.5 percent. Despite the reduction, the firm still maintains about 123 million shares in the energy heavyweight, valued at $19.4 billion at the end of March 2024.

What you can glean from the movements in the Berkshire portfolio is always open for debate, owing to the nature of timing surrounding 13F filings but nonetheless, there are lessons that can be potentially extrapolated across sectors or businesses when considering the fundamental thesis of the storied investor.