HomeInvestmentsWarren Buffett’s Berkshire Hathaway Reveals Its Secret Stock

Warren Buffett’s Berkshire Hathaway Reveals Its Secret Stock

For the past three regulatory filings, Warren Buffett’s Berkshire Hathaway has been keeping one of its stock holdings confidential. Now, the conglomerate revealed that the secret stock has been the insurance company The Chubb Corporation.

In a regulatory filing made on Wednesday, Berkshire revealed that it holds 26 million shares, worth $6.7 billion, in Chubb. Berkshire has been increasing its stake in the insurer since last year but was able to keep it under wraps thanks to confidentiality treatment provided by the Securities and Exchange Commission (SEC).

The previous time when Berkshire requested and was given confidentiality was in 2020 when the company increased its stake in energy giant Chevron and telecommunications company Verizon.

“Millions of people follow what Buffett does,” said David Kass, a finance professor at the University of Maryland‘s Robert H. Smith School of Business, told Bloomberg. “Warren Buffett would be more sensitive to the issue than others.”

By making a massive stake in Chubb, Berkshire is deepening its ties with the insurance sector. The company also owns auto insurer Geico, a reinsurance company called General Re, and a property/casualty insurer called National Indemnity. Additionally, Berkshire holds stakes in a number of other insurance businesses and purchased insurance company Alleghany in a $11.6 billion deal in 2022.

Chemical Giant DuPont Will Split in 3 Companies, Replace CEO Ed Breen

Chemical giant DuPont is heading towards some major changes. The company announced on Wednesday that it will be splitting into three separate companies while...

Zoom Tops Estimates, Raises Full-Year Forecast

Zoom Video Communications reported its earnings for the first quarter of 2024 on Monday and topped the estimates of Wall Street analysts. The communications...

Reddit Stock Jumps on the Back of Open AI Partnership

Social media platform Reddit announced earlier this week that it is partnering up with artificial intelligence start-up Open AI to improve the experience of...