I am a contributor to the forthcoming book: “The Warren Buffett Shareholder: Stories from Inside the Berkshire Hathaway Annual Meeting”. This book is scheduled to be released on April 19, 2018.
Berkshire Hathaway’s 2017 Annual Report to shareholders will be
posted on the Internet on Saturday, February 24, 2018, at approximately 8:00 a.m. eastern time
where it can be accessed at www.berkshirehathaway.com. The Annual Report will include
Warren Buffett’s annual letter to shareholders as well as information about Berkshire’s financial
position and results of operations. Concurrent with the posting of the Annual Report, Berkshire
will also issue an earnings release.
In an SEC 13F filing after the market closed today, Berkshire Hathaway (Warren Buffett) reported the following major changes to its common stock portfolio during the fourth quarter of 2017:
(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.
(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 top five common stock holdings by market value (representing 62.4% of its portfolio) 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
Phillips 66 to repurchase 35 million shares from Berkshire Hathaway at $93.725 per share for $3.3 billion. Berkshire will retain 10% stake.
I am quoted in the Washington Post:
“There is a lot of concern in the rising yield in the 10-year Treasury note,” said David Kass, professor of finance at the University of Maryland. “As it approaches 3 percent, concerns about inflation and competition for stocks by fixed income securities are increasing.”
Wells Fargo will replace four board members and face limits on growing its banking business after an unprecedented action announced Friday by the U.S. Federal Reserve, which cited “widespread consumer abuses.”
Wells Fargo is Berkshire Hathaway’s (Warren Buffett’s) largest common stock investment. At Friday’s closing price of $64.07 on the New York Stock Exchange, Berkshire’s 10% stake in the bank was valued at $32 billion. Berkshire has invested in Wells Fargo since 1989.
Wells Fargo is also Daily Journal’s (Charlie Munger’s) largest common stock investment.
(Note: This blog post has been published by Value Walk.)