FRI, JAN 31, 2025

WARREN BUFFETT WATCH

Berkshire toymaker in major 'Stranger Things' deal with Netflix

Jazwares, the Berkshire Hathaway toy subsidiary best known for its popular Squishmallows plush figures, has a new licensing deal with Netflix to make a "robust product line" based on the "Stranger Things" science fiction/horror TV series in conjunction with its fifth and final season, expected later this year.

It will go beyond the "Stranger Things" Squishmallows introduced last summer.

Jazwares started selling Squishmallows based on "Stranger Things" characters last year. Photo: Netflix

In a joint news release, Jazwares executive Judd Karofsky is quoted as saying the company wanted to "raise our collaboration to the next level."

"Knowing how influential and passionate the Stranger Things fandom is, we’re ready to team up with Netflix to bring fans a full line of products that will allow them to engage with the franchise like never before with authentically detailed figures, playsets, costumes, and more."

The "more" includes toys and accessories, like leashes, collars, licking mats, and beds, for pets.

Photos: CNBC | Yun Li | David A. Grogan

Berkshire added Jazwares to its list of subsidiaries when it bought the toy company's parent, Alleghany, in 2022.

Warren Buffett and Charlie Munger Squishmallows were a big hit at the Berkshire annual meeting the next year, with around 10,000 sold for $10 each on the floor of the exhibition hall.

OXY's stock slump puts it in back in range of Berkshire's latest buying

Occidental Petroleum fell 4.6% today to close at $46.65.

It's the first time the oil giant's stock price has been back in the vicinity of its 52-week low of $45.17 in late December.

That's when Berkshire Hathaway paid an average of $45.99 each for almost 9 million shares in three days of buying.

The $409 million of purchases raised its stake to 264 million shares currently worth $12.3 billion. (It paid more than $14.3 billion for those shares since it began building the position in March 2022.)

OXY's slump has Barron's wondering if Berkshire has been, or will be, doing some more buying.

We'll know soon. Berkshire's 28% stake is well above the 10% level at which the SEC requires disclosures of new stock moves within two business days.

BUFFETT AROUND THE INTERNET

Some links may require a subscription

CNBC.com (subscription): UBS says Berkshire is well positioned for an uncertain economy in 2025, sees shares rising another 17%

Investopedia on MSN: This Chart Could Explain Why Warren Buffett Is Holding $325 Billion in Cash

Reuters: Berkshire Hathaway has shed more than 4,000 jobs

Investopedia: Is Warren Buffett Right That the Stock Market Is Like a Casino? What Investors Need To Know

Benzinga on Yahoo Finance: Investor Calls Berkshire Hathaway A 'Boomer Meme Coin' And Warren Buffett The 'OG Financial Influencer' And Ignites A Relentless Backlash

HIGHLIGHTS FROM THE ARCHIVE

Buffett not worried about a trade war with China (2018)

Warren Buffett says both the US and China benefit too much from trade to do anything "extremely foolish."

BERKSHIRE STOCK WATCH

Four weeks

Twelve months

BERKSHIRE'S TOP U.S. STOCK HOLDINGS - Jan. 31, 2025

Berkshire's top holdings of disclosed publicly traded stocks in the U.S., Japan, and Hong Kong, by market value, based on today's closing prices.

Holdings are as of September 30, 2024 as reported in Berkshire Hathaway's 13F filing on August 14, 2024, except for:

Bank of America, which is as of October 15, 2024
Occidental Petroleum, which is as of December 19, 2024

The full list of holdings and current market values is available from CNBC.com's Berkshire Hathaway Portfolio Tracker.

QUESTIONS OR COMMENTS

Please send any questions or comments about the newsletter to me at alex.crippen@nbcuni.com. (Sorry, but we don't forward questions or comments to Buffett himself.)

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Also, Buffett's annual letters to shareholders are highly recommended reading. There are collected here on Berkshire's website.

-- Alex Crippen, Editor, Warren Buffett Watch

900 Sylvan Avenue, Englewood Cliffs, NJ 07632

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