bought shares in
in the first quarter, while virtually eliminating any interest in
Communications, according to a filing Monday evening.
Berkshire Hathaway (ticker: BRK.A, BRK.B) also significantly increased its stake in
(CVX) and took significant stakes in
(OXY) and HP (HPQ). Berkshire also increased its stake in
The purchases of Chevron, Occidental, Activision and HP have already been disclosed by various sources, including separate regulatory filings, Berkshire’s first quarter 10-Q report and by CEO Warren Buffett at Berkshire’s annual meeting on 30 april.
The new information in Monday’s filing is that Berkshire owned 55 million shares of Citigroup (C) on March 31, a stake worth $2.6 billion. Berkshire owns 69 million shares of Paramount Global (PARA), the media company, which today is worth around $1.9 billion.
Berkshire’s stake in Paramount Global, which changed its name from ViacomCBS earlier this year, now stands at 10.6%. Berkshire held 69 million shares as of March 31, and there are a total of 649 million Paramount Class A and B shares outstanding, based on the company’s latest 10-Q report as of April 28. .
Berkshire eliminated almost all of a large stake in Verizon Communications (VZ) during the quarter. The company held just 1.4 million Verizon shares as of March 31, down from nearly 159 million shares as of December 31. Berkshire’s stake in Verizon was about $8 billion before the first-quarter sale.
Barron’s wrote earlier in May that Berkshire likely sold all or most of Verizon’s stake based on our analysis of the company’s first-quarter 10-Q report.
Berkshire also bought a stake of about 419,000 shares of insurer Markel (MKL), worth about $555 million.
Berkshire bought $51 billion worth of stock in the first quarter, more than in any other three-month period in its history. Most of his buying activity took place in early March, when the stock market fell.
Berkshire held a stake in Chevron totaling 159 million shares on March 31, which is now worth $27.5 billion. He owned 104.5 million shares of HP and 137 million shares of Occidental as of March 31. Berkshire has since bought more of those two stocks. He now owns 143 million shares of Occidental, worth $9.7 billion, and 121 million shares of HP, worth $4.5 billion.
Write to Andrew Bary at [email protected]