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Warren Buffett’s Berkshire Hathaway made modest stock purchases in the second quarter.
Paul Morigi / Getty Images for Fortune / Time Inc
Berkshire Hathaway has added its stake in
Apple
,
Chevron
,
Mysterious Oil
,
and
Activision Blizzard
in the second quarter, according to a rule Monday late filing.
Berkshire Hathaway (code:
BRKb
) has sold out a small position remaining in
Verizon Communications
(code:
VZ
) It’s a fell sharply in the first quarterand trim its hold in
Synthetic engine
(
GM
) about nine million shares to 52.9 million shares. Verizon holds just 1.4 million shares as of March 31, down from nearly 160 million shares at the end of 2021.
Some of these purchases were disclosed in previous filings while others were just announced in Monday’s 13-F filing.
Berkshire Hathaway scaled back its stock purchases in the second quarter from the appalling first-quarter performance. Berkshire was a buyer of $6 billion in stock in the second quarter, down from $51 billion in the first quarter. That was a net buyer (buy less than sell) of $4 billion in the second quarter, down from $41 billion in the first three months of the year.
Berkshire Hathaway bought another 4 million shares of Apple (AAPL), its largest holding company in the second quarter, bringing its position to 894.8 million shares. The company’s recent 10-Q shows Apple’s position with 915 million shares. For some of the stocks Berkshire Hathaway holds, 10-Q and 13-F count a different number of shares, with 10-Q indicating a broader holding.
Berkshire Hathaway purchased an additional 2.4 million shares of Chevron (CVX), bringing its shares to 161.4 million, and purchased an additional 22 million shares of Occidental Petroleum (OXY), bringing its total ownership to 158.5 million shares as of June 30. Berkshire Hathaway has since bought more Oxy stock and recently holds 188 million shares, a 20% stake in the energy company.
Berkshire Hathaway purchased an additional 4 million shares of Activision Blizzard (ATVI) in the second quarter, bringing the total to 68.3 million shares. Chief Executive Officer Warren Buffett told shareholders at Berkshire Hathaway’s annual meeting in late April that the company had added to its stake in the video game maker as an arbitrage.
Microsoft
(MSFT) has an agreement to buy Activision at $95 a share, and Activision trades for about $80.
Berkshire Hathaway cuts shares in grocery stores
Kroger
(KR) added 5 million shares to 52.4 million shares.
Berkshire Hathaway has added its stake in
Paramount Global
(PARA) in the second quarter, increased by more than 9 million shares to 78.4 million shares, now worth about $2 billion. Berkshire Hathaway sharply increases holdings
Ally Financial
(ALLY) raised 20 million shares to 28.7 million, the shares are now worth about $1 billion.
Berkshire Hathaway cuts holdings
Bancorp USA
(USB) raised six million shares to 119.8 million shares, valued at $5.8 billion. Berkshire reduced its eight million shares in Store Capital (STOR) to 6.9 million.
Write to Andrew Barry at andrew.bary@barrons.com
