Berkshire Hathaway Continues to Reduce Its Investment in Bank of America While Maintaining Its Stake in Apple

Billionaire Warren Buffett’s Berkshire Hathaway has continued to reduce its long-term investments in Bank of America during the final months of 2023 while keeping its stake in Apple unchanged after previously trimming it.

Topic

Berkshire’s Moves

Portfolio Restructuring

Berkshire’s Moves

A regulatory filing published on Friday revealed that the company reduced its stake in Bank of America to 8.9% in the fourth quarter after selling 117.5 million shares.
Investors and bank executives had been anticipating this update for months,
especially after Berkshire’s stake fell below 10%, which exempted it from immediate disclosure of its transactions.

By the close of trading on Friday, the remaining stake was valued at $31.9 billion.
Buffett, 94 years old, began reducing his investment in the bank in mid-July without providing any official explanation.

Despite having previously reduced its stake in Apple in early 2024,
Berkshire did not make any further changes in recent months.
Apple remains the largest stock investment in the company’s portfolio, accounting for 28% of it.
The value of Berkshire’s Apple stake increased by more than $5 billion in the last quarter,
reflecting the continued strength of the stock in the markets.

Portfolio Restructuring

In parallel, Berkshire Hathaway has restructured its investment portfolio,
acquiring new shares in Sirius XM and Occidental Petroleum.
Meanwhile, it cut its investment in Citigroup by 73%, selling 40.6 million shares,
and completely exited its investment in Ulta Beauty, which it had initially entered in the second quarter before gradually reducing its position.

Berkshire Hathaway is expected to release its annual earnings report in the coming period,
along with Warren Buffett’s traditional letter to shareholders,
which remains one of the most highly anticipated events for investors due to his deep insights into market trends and future outlooks.

Berkshire Hathaway Continues to Reduce Its Investment in Bank of America

Berkshire Hathaway Continues to Reduce Its Investment in Bank of America

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