cut its equity stakes in Bank of New York and Activision Blizzard and increased its holding in Louisiana-Pacific in the fourth quarter, according to filings released Tuesday.
Berkshire Hathaway (ticker: BRK/A, BRK/B) reduced its holding in
) to 25 million shares in the fourth quarter from 62.2 million shares in the third quarter. Berkshire cuts its interest in
) by 7.3 million shares to 52.7 million shares.
The stake in
) rose to 7 million shares from 5.8 million shares.
The change in these holdings was reported in 13-G filings with the Securities and Exchange Commission. The 13-G is an annual filing for passive holdings that are more than 5%.
Berkshire’s stake in
), its largest equity investment, rose slightly to 915.6 million shares, but the increase of about 300,000 shares likely reflects the inclusion of Apple shares held by Alleghany, the insurer that Berkshire bought in October.
Berkshire is expected to report later Tuesday in a 13-F filing all its U.S. equity holdings.
The 13-G filing shows shows no change in Berkshire’s holding in
Berkshire continues to hold 194.3 million shares, a 21% stake.
The filing shows 278.2 million shares but that includes some 83.9 million warrants to buy Occidental stock that Berkshire has held for nearly four years. Those warrants can be exercised at around $60 a share. Warrants are long-term call options that allow the holder to buy stock at a predetermined price. Occidental closed at $66.36, up 2.5%, meaning the warrants are in the money.
There may be some confusion among investors when the Berkshire 13-F report of the company’s complete holdings is reported later Tuesday.
The 13-F is less comprehensive than the 13-G because it excludes stock held by New England Asset Management, which is part of Berkshire’s General Re insurance division. New England Asset Management files a separate 13-F report but its holdings are included in Berkshire’s 13-G report.
Berkshire, for instance, held 894.8 million shares of Apple at the end of the third quarter based on its 13-F report. New England held 20.5 million shares.
Write to Andrew Bary at [email protected]
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