FRI, JUN 03, 2022
New portfolio additions welcome Berkshire stakes
The CEOs of two companies recently added to Berkshire Hathaway's equity portfolio say they welcome the company's investments.
In an interview with Jim Cramer on Tuesday's "Mad Money," HP CEO Enrique Lores said of Warren Buffett, "Having one of the most respected investors as one of the investors in HP is a great sign of confidence for all of us."
Lores told Cramer he has spoken with Buffett, just as he speaks with all of HP's key shareholders.
And while he wouldn't reveal any substantive details, he did "share a little bit of a secret" that he learned: Buffett is a "happy customer of an HP PC. He uses one of our products, and this is another incentive for us to continue to drive that business forward."
The stock rallied this week after HP reported strong second quarter results and raised its guidance, getting a boost from demand from businesses for computers.
Berkshire revealed in an SEC filing after the NYSE's closing bell on April 6 that it owned around 121 million shares, which is more than 11% of HP's outstanding shares.
At that day's close of $34.91, the stake was worth more than $4.2 billion.
Today, HP closed at $39.81, giving the shares a market value of $4.8 billion, an increase of 14%.
HP CEO Enrique Lores (Scott Myln|CNBC), Citigroup CEO Jane Fraser (Mike Blake|Reuters)
Berkshire's Q1 13F filing two weeks ago showed that Berkshire had added Citigroup to its portfolio during the first three months of the year, owning more than 55 million shares worth more than $2.9 billion as of March 31, about 2.8% of the company outstanding shares. They are currently valued at $2.8 billion, a decline of 3.7%.
Reuters reports that earlier this week CEO Jane Fraser told reporters in Germany that she is "delighted" with what she called the "wonderful" Berkshire investment.
During an interview with CNBC's Sara Eisen last week in Davos, Fraser called Buffett a "wonderful investor" and she hopes "there will be more investors who will be following his footsteps as our team delivers the progress. We've always said the proof will be in the pudding, and we're delivering the pudding."
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BERKSHIRE'S TOP U.S. STOCK HOLDINGS - June 3, 2022
Berkshire's top holdings of disclosed publicly-traded U.S. stocks by market value, based on today's closing prices.
Holdings are as of March 31, 2022 as reported in Berkshire Hathaway’s 13F filing on May 16, 2022, except for Apple, Bank of America, and U.S. Bancorp, which also include shares held as of Mar 31, 2022 as disclosed in New England Asset Management’s 13F filing on May 14, 2022, and except for Occidental Petroleum, which is as of May 12, 2022.
In addition to U.S. stocks, shares held as of December 31, 2021 of China's BYD, as listed in Buffett's 2021 letter to shareholders, are included. The price of those shares in U.S. trading is used to approximate the current market value of the position. The value of the stake as a percentage of the company's market value is fixed at what was listed as of December 31, 2021 in the letter.
The full list of holdings and current market values is available from CNBC.com's Berkshire Hathaway Portfolio Tracker.
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-- Alex Crippen, Editor, Warren Buffett Watch