Buffett’s firm tweaks stock portfolio, adds Suncor, Red Hat
OMAHA, Neb. (AP) — Billionaire Warren Buffett’s company has taken a new stake in Canadian firm Suncor Energy and trimmed its huge Apple stake.
Berkshire Hathaway Inc. filed a quarterly update on its holdings with the Securities and Exchange Commission on Thursday.
The Omaha, Nebraska-based company said it owned 10.76 million Suncor shares at the end of last year. But these quarterly filings don’t make clear who made the investments.
Buffett has said that investments of less than $1 billion are likely to be the work of Berkshire’s two other investment managers.
Berkshire said it sold nearly 3 million Apple shares but it still held 249.6 million shares of the iPhone maker.
Buffett has said he considers Apple a consumer products company with a strong competitive position, rather than as a tech company.
Investors follow what Berkshire buys and sells closely because of Buffett’s successful track record. Berkshire officials don’t generally comment on these quarterly filings.
Buffett’s company also increased its relatively new investment in JPMorgan Chase to 50.1 million shares, up from nearly 36 million shares last fall.
Berkshire also sold the 41.4 million Oracle shares it disclosed last quarter and revealed owning 4.2 million shares of Red Hat.
IBM is in the process of buying Red Hat in a $34 billion deal that translates to roughly $190 per Red Hat share.
Despite the deal announced at the end of October, Red Hat shares traded in the $170s in November and December, so Berkshire may be betting on the deal going through instead of Red Hat’s long-term prospects.
Berkshire also disclosed owning 14 million shares of StoneCo Ltd., which is a Brazilian credit card processor.
Besides investments, Berkshire owns more than 90 companies, including insurance, retail, manufacturing, railroad and candy companies.