Major Changes To Berkshire Portfolio In Q4

In an SEC 13F filing after the market closed today, the following major changes to its portfolio during the fourth quarter of 2017 were reported:

Additions:

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(1) Apple – An additional $5.3 billion stake of 31.2 million shares (or additional 23.3% stake) resulting in a total position valued at $28 billion on December 31, 2017.

(2) Bank of New York – An additional 21% stake of 10.6 million shares or $570 million.

(3) Teva – New position of $358 million.

(4) Monsanto – An additional 32% stake of 2.8 million shares or $330 million.

Reductions:

(1) IBM – A reduction of 35 million shares or $5.4 billion representing a 94.5% reduction in its stake.

(2) General Motors – A reduction of 10 million shares or $410 million representing a 17% reduction in its stake.

 

As of December 31, 2017, Berkshire Hathaway’s largest five common stock holdings were:

(1) Apple – $28.0 billion

(2) Wells Fargo – $27.8 billion

(3) Kraft Heinz – $25.3 billion

(4) Bank of America –  $20.0 billion

(5) Coca Cola – $18.4 billion

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David I Kass Clinical Associate Professor, Department of Finance Ph.D., Harvard University Robert H. Smith School of Business 4412 Van Munching Hall University of Maryland College Park, MD 20742-1815 Phone: 301-405-9683 Email: [email protected] (link sends e-mail) Dr. David Kass has published articles in corporate finance, industrial organization, and health economics. He currently teaches Advanced Financial Management and Business Finance, and is the Faculty Champion for the Accelerated Finance Fellows. Prior to joining the faculty of the Smith School in 2004, he held senior positions with the Federal Government (Federal Trade Commission, General Accounting Office, Department of Defense, and the Bureau of Economic Analysis). Dr. Kass has recently appeared on Bloomberg TV, CNBC, PBS Nightly Business Report, Maryland Public Television, Business News Network TV (Canada), Fox TV, American Public Media's Marketplace Radio, and WYPR Radio (Baltimore), and has been quoted on numerous occasions by Bloomberg News and The Wall Street Journal, where he has primarily discussed Warren Buffett and Berkshire Hathaway. He has also launched a Smith School “Warren Buffett” blog. Dr. Kass has accompanied MBA students on trips to Omaha for private meetings with Warren Buffett, and Finance Fellows to Berkshire Hathaway’s annual meetings. He is an officer of the Harvard Business School Club of Washington, DC, and is a member of the investment and budget committees of a local nonprofit organization. Dr. Kass received a Smith School “Top 15% Teaching Award” for the 2009-2010 academic year.