This performance gave rise to investors’ sentiments that the firm is a secure long-term investment, particularly given its diverse portfolio. Since arriving in 1962, The 92-year-old Warren Buffett has been credited with transforming Berkshire Hathaway from a struggling textile company to a conglomerate with businesses including Berkshire Hathaway Energy, Dairy Queen ice cream, Geico, and See’s Candies.

Quarterly operating profit for the company rose by 13% to $8.07 billion from $7.16 billion the previous quarter. Its cash on hand grew to $130.6 billion; a $2 billion rise. This comes after the conglomerate sold $13.3 billion of stocks over the course of the first quarter while buying just $2.9 billion.

Berkshire Hathaway’s Class A shares have increased 4.9% in value since the start of the year, trailing behind the Standard & Poor’s 500’s 7.7% gain. This is a major contrast from 2022 when the index trailed Berkshire by 23.4 percentage points.

The post Berkshire Hathaway Posts $35.5 Billion Q1 Profit appeared first on theprimarymarket.com.

Despite its long history of providing financial support to struggling banks, Berkshire has decided to remain on the sidelines since the collapse of Silicon Valley Bank and Signature Bank and the banking sector instability that followed. Munger revealed that this decision largely comes as a result of the risks associated with banks’ portfolios of mounting commercial property loans.

“A lot of real estate isn’t so good anymore,” Munger said to the Financial Times. “We have a lot of troubled office buildings, a lot of troubled shopping centers, a lot of troubled other properties. There’s a lot of agony out there.”

Munger added that Berkshire’s decision to refrain from intervening to assist amid the sector’s instability comes as every U.S. bank tightens their stances on real estate loans, further discouraging the firm from intervening.

The post Berkshire Vice-Chair Warns That Banks Stuck With Commercial Property Debt appeared first on theprimarymarket.com.

In a recent interview with the Japanese finance publication Nikkei, Buffett revealed that “geopolitical tensions” surrounding the region were a significant consideration in the company’s decision to end its ties with TSMC. While Buffett went on to praise TSMC for good management, he also added that there are better places for Berkshire to invest its money.

Berkshire made the $4.1 billion investment in TSMC in June and September of 2022 but offloaded more than 86 percent of shares by the end of the year. It still owned 8.3 million shares in early 2023. 

Buffett had his chat with Nikkei while visiting Japan, where Berkshire made significant additions to its portfolio. According to Business Insider, the conglomerate increased its stakes in Japanese companies Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo, with a combined value of its positions being estimated at $14 billion.

According to Buffett, Berkshire intends to keep adding to its stakes in the future and hopes to expand the partnership in other ways.

“We don’t think it’s impossible that we will partner with them at some point in the future in a specific deal,” Buffett explained.

The post Warren Buffett Explains Why Berkshire Hathaway Unloaded Its TSMC Stake appeared first on theprimarymarket.com.

Berkshire started aggressively buying Occidental shares in early 2022 and even secured permission from U.S. Federal Energy Regulatory Commission stock in August to be able to own up to 50% of its common. However, the recent accumulation of additional shares was the first one for the multinational company in five months.

At the moment, Berkshire owns 200.2 million Occidental shares that are worth $12.44 billion based on Wednesday’s closing price of $62.17 per share. Occidental recently increased its annual dividends rate from $0.52 to $0.72 per share, meaning that Berkshire’s stake will generate $144.14 million in annual dividends. In addition, Berkshire owns Occidental preferred stock at a value of $10 billion.

Occidental Petroleum shares have seen a significant surge in the past year, benefiting from increased demand for oil, gas, and other energy resources. The stock more than doubled in 2022 before experiencing nominal stability in 2023. Based on this week’s price, the shares are 1.8% up year-to-date.

The post Berkshire Hathaway Buys More Occidental Petroleum Shares to Increase its Stake to 22.2% appeared first on theprimarymarket.com.

According to the company, Abel was bought out in June for a figure of $870 million. The move was made according to the agreement between Berkshire and the family of late billionaire Walter Scott. Berkshire now owns 92% of its energy unit, while Scott’s heirs own the remaining 8%.

Berkshire Hathaway Energy has subsidiaries and investments in a wide range of energy businesses but also real estate. The list of companies it owns includes MidAmerican Energy Company, PacifiCorp, NV Energy, and HomeServices of America.

According to industry insiders, Abel liquidating its stake in Berkshire Hathaway Energy could mean that Scott’s family is thinking of doing the same. Scot, who passed last year, was a childhood friend of Berkshire CEO Warren Buffet. He was involved with the company in sever roles, including sitting on its board of directors.

Greg Abel joined Berkshire Hathaway Energy in 1992 and was named its president in 1998. He served in the role until 2018 while also being the unit’s CEO between 2008 and 2018. Abel is currently designated to succeed Buffet as Berkshire CEO.

The post Berkshire’s Greg Abel Sells Its Stake in Company’s Energy Unit for $870 Million appeared first on theprimarymarket.com.

This new purchase, worth around $44 million, comes after Berkshire acquired 9.5 million shares in transactions made on June 17th and June 22nd. As a result, Berkshire now owns 153.5 million shares of Occidental that are worth more than $9 billion. And this might just be the beginning.

According to Reuters, Berkshire has options that would allow them to buy a further 83.9 million Occidental shares in the future. If the options get picked up, Berkshire, already the largest individual shareholder of Occidental, would increase its stake to 25 percent.

Berkshire’s investments and increase in oil price have caused a big surge in value for Occidental Petroleum stock (OXY). It spiked 94 percent in the past year and closed at $60.68 per share on Tuesday. It previously peaked at $70.86 in late May.

Besides Occidental Petroleum, Berkshire Hathaway also made a number of other major investments in 2022. It increased its stake in oil giant Chevron, now one of Berkshire’s most significant positions, while also investing in video game powerhouse Activision Blizzard and computer maker HP.

The post Warren Buffett’s Berkshire Increases Its Stake in Occidental Petroleum to 16.4% appeared first on theprimarymarket.com.

This performance gave rise to investors’ sentiments that the firm is a secure long-term investment, particularly given its diverse portfolio. Since arriving in 1962, The 92-year-old Warren Buffett has been credited with transforming Berkshire Hathaway from a struggling textile company to a conglomerate with businesses including Berkshire Hathaway Energy, Dairy Queen ice cream, Geico, and See’s Candies.

Quarterly operating profit for the company rose by 13% to $8.07 billion from $7.16 billion the previous quarter. Its cash on hand grew to $130.6 billion; a $2 billion rise. This comes after the conglomerate sold $13.3 billion of stocks over the course of the first quarter while buying just $2.9 billion.

Berkshire Hathaway’s Class A shares have increased 4.9% in value since the start of the year, trailing behind the Standard & Poor’s 500’s 7.7% gain. This is a major contrast from 2022 when the index trailed Berkshire by 23.4 percentage points.

The post Berkshire Hathaway Posts $35.5 Billion Q1 Profit appeared first on theprimarymarket.com.

Despite its long history of providing financial support to struggling banks, Berkshire has decided to remain on the sidelines since the collapse of Silicon Valley Bank and Signature Bank and the banking sector instability that followed. Munger revealed that this decision largely comes as a result of the risks associated with banks’ portfolios of mounting commercial property loans.

“A lot of real estate isn’t so good anymore,” Munger said to the Financial Times. “We have a lot of troubled office buildings, a lot of troubled shopping centers, a lot of troubled other properties. There’s a lot of agony out there.”

Munger added that Berkshire’s decision to refrain from intervening to assist amid the sector’s instability comes as every U.S. bank tightens their stances on real estate loans, further discouraging the firm from intervening.

The post Berkshire Vice-Chair Warns That Banks Stuck With Commercial Property Debt appeared first on theprimarymarket.com.

In a recent interview with the Japanese finance publication Nikkei, Buffett revealed that “geopolitical tensions” surrounding the region were a significant consideration in the company’s decision to end its ties with TSMC. While Buffett went on to praise TSMC for good management, he also added that there are better places for Berkshire to invest its money.

Berkshire made the $4.1 billion investment in TSMC in June and September of 2022 but offloaded more than 86 percent of shares by the end of the year. It still owned 8.3 million shares in early 2023. 

Buffett had his chat with Nikkei while visiting Japan, where Berkshire made significant additions to its portfolio. According to Business Insider, the conglomerate increased its stakes in Japanese companies Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo, with a combined value of its positions being estimated at $14 billion.

According to Buffett, Berkshire intends to keep adding to its stakes in the future and hopes to expand the partnership in other ways.

“We don’t think it’s impossible that we will partner with them at some point in the future in a specific deal,” Buffett explained.

The post Warren Buffett Explains Why Berkshire Hathaway Unloaded Its TSMC Stake appeared first on theprimarymarket.com.

Berkshire started aggressively buying Occidental shares in early 2022 and even secured permission from U.S. Federal Energy Regulatory Commission stock in August to be able to own up to 50% of its common. However, the recent accumulation of additional shares was the first one for the multinational company in five months.

At the moment, Berkshire owns 200.2 million Occidental shares that are worth $12.44 billion based on Wednesday’s closing price of $62.17 per share. Occidental recently increased its annual dividends rate from $0.52 to $0.72 per share, meaning that Berkshire’s stake will generate $144.14 million in annual dividends. In addition, Berkshire owns Occidental preferred stock at a value of $10 billion.

Occidental Petroleum shares have seen a significant surge in the past year, benefiting from increased demand for oil, gas, and other energy resources. The stock more than doubled in 2022 before experiencing nominal stability in 2023. Based on this week’s price, the shares are 1.8% up year-to-date.

The post Berkshire Hathaway Buys More Occidental Petroleum Shares to Increase its Stake to 22.2% appeared first on theprimarymarket.com.

According to the company, Abel was bought out in June for a figure of $870 million. The move was made according to the agreement between Berkshire and the family of late billionaire Walter Scott. Berkshire now owns 92% of its energy unit, while Scott’s heirs own the remaining 8%.

Berkshire Hathaway Energy has subsidiaries and investments in a wide range of energy businesses but also real estate. The list of companies it owns includes MidAmerican Energy Company, PacifiCorp, NV Energy, and HomeServices of America.

According to industry insiders, Abel liquidating its stake in Berkshire Hathaway Energy could mean that Scott’s family is thinking of doing the same. Scot, who passed last year, was a childhood friend of Berkshire CEO Warren Buffet. He was involved with the company in sever roles, including sitting on its board of directors.

Greg Abel joined Berkshire Hathaway Energy in 1992 and was named its president in 1998. He served in the role until 2018 while also being the unit’s CEO between 2008 and 2018. Abel is currently designated to succeed Buffet as Berkshire CEO.

The post Berkshire’s Greg Abel Sells Its Stake in Company’s Energy Unit for $870 Million appeared first on theprimarymarket.com.

This new purchase, worth around $44 million, comes after Berkshire acquired 9.5 million shares in transactions made on June 17th and June 22nd. As a result, Berkshire now owns 153.5 million shares of Occidental that are worth more than $9 billion. And this might just be the beginning.

According to Reuters, Berkshire has options that would allow them to buy a further 83.9 million Occidental shares in the future. If the options get picked up, Berkshire, already the largest individual shareholder of Occidental, would increase its stake to 25 percent.

Berkshire’s investments and increase in oil price have caused a big surge in value for Occidental Petroleum stock (OXY). It spiked 94 percent in the past year and closed at $60.68 per share on Tuesday. It previously peaked at $70.86 in late May.

Besides Occidental Petroleum, Berkshire Hathaway also made a number of other major investments in 2022. It increased its stake in oil giant Chevron, now one of Berkshire’s most significant positions, while also investing in video game powerhouse Activision Blizzard and computer maker HP.

The post Warren Buffett’s Berkshire Increases Its Stake in Occidental Petroleum to 16.4% appeared first on theprimarymarket.com.