A year ago the progressive decline from 20 to 10% also began in the big Chinese electric car company, BYD, which brought in 4 billion dollars
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Warren Buffett believes less in the automotive sector and is betting on the recovery of the US real estate market. His Berkshire Hathaway company bought more than $700 million of shares in developer DR Horton in the spring along with smaller stakes totaling $800 million in Lennar and NVR.
Berkshire revealed these decisions through documents filed with the Securities and Exchange Commission, the American Stock Exchange Authority, which shows the holding’s holdings at the end of June.
The 92-year-old Oracle of Omaha company made a number of other changes to its portfolio during the second quarter. Most significant was the halving of his stake in GM from 40 million shares to 22 million. A piece of news that has weighed on the Stock Exchange on the stock of the first American car-maker. Berkshires from summer 2022 started the descent in another automaker, the up-and-coming BYD, grossing about $4 billion in stages and dropping from 20 to 10 percent.
Berkshire’s largest holdings of Apple stock and Bank of America were unchanged. Several of Berkshire’s other moves in the quarter had previously been disclosed, including adding more Occidental Petroleum stock, trimming Chevron’s stake, and dumping most of the Activision Blizzard stock that Buffett bought as a takeover bet from Microsoft’s part of that video game maker.
In addition to its stock portfolio, Berkshire owns dozens of companies outright, including railroad BNSF, several major utilities and an assortment of Geico-led insurance companies. He also owns a number of manufacturing and retail companies such as Precision Castparts, See’s Candy and Helzberg Diamonds.
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2023-08-15 18:59:17
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