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Warren Buffett’s Berkshire trims stake in Apple, quietly builds positions in Chevron, Verizon and Marsh & McLennan

  • Berkshire Hathaway bought stock in Verizon Communications, insurance broker Marsh & McLennan and Chevron
  • Berkshire trimmed its stake in Apple to about US$120 billion at the end of 2020

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Warren Buffet, chairman and chief executive officer of Berkshire Hathaway Inc., speaks during the virtual Berkshire Hathaway annual shareholders meeting seen on a laptop computer in Arlington, Virginia, on Saturday, May 2, 2020. Photo: Bloomberg
Warren Buffett’s Berkshire Hathaway cut its Apple holding during the last few months of the year. The conglomerate also revealed three new buys that it snapped up in secret.
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Berkshire bought stock in Verizon Communications, insurance broker Marsh & McLennan and Chevron, bets that were granted confidential status and not revealed in a third-quarter regulatory filing, according to an updated document released Tuesday. The news of the investments sent the shares of those three companies up in aftermarket trading.

The Apple stake reduction left Berkshire with a holding valued at about US$120 billion at the end of 2020, according to another filing. The iPhone maker remains Berkshire’s biggest single stock holding.
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Buffett and his investment deputies, Todd Combs and Ted Weschler, reshaped the portfolio over the last year as the coronavirus pandemic struck the US.

The company was heavily invested in the banking sector, which has done well in the pandemic but is exposed to consumer finances and commercial real estate. The conglomerate has spent recent months lightening up on some of those lenders, while maintaining bets on firms such as Bank of America.
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