Warren Buffett’s Berkshire Hathaway reveals new stakes in Paramount, Citigroup

By Associated Press

OMAHA, Neb. — Warren Buffett’s company on Monday revealed all the investment moves it made in the first quarter, when it spent more than $51 billion on stocks.

But Buffett had already shared the biggest investments with Berkshire Hathaway /zigman2/quotes/208872451/composite BRK.A -0.33% /zigman2/quotes/200060694/composite BRK.B -0.20% shareholders  at the company’s recent annual meeting . That means investors already knew that he had invested heavily in Chevron /zigman2/quotes/205871374/composite CVX -0.24% , Occidental Petroleum /zigman2/quotes/207018272/composite OXY -0.65% and HP Inc. /zigman2/quotes/203461582/composite HPQ -0.80% during the quarter, while picking up nearly 4 million more Apple /zigman2/quotes/202934861/composite AAPL +0.22% shares and betting that  Microsoft’s acquisition of Activision Blizzard  will go through.

But Monday’s Securities and Exchange Commission filing also revealed new stakes in Citigroup /zigman2/quotes/207741460/composite C +0.42% , Ally Financial /zigman2/quotes/206227672/composite ALLY -1.41% , media company Paramount Global /zigman2/quotes/200340870/composite PARA -2.90% , insurer Markel /zigman2/quotes/207564531/composite MKL -0.06% , chemical maker Celanese Corp. /zigman2/quotes/205151277/composite CE -1.74% , and pharmaceutical distributor McKesson Corp. /zigman2/quotes/206975466/composite MCK +1.20% .

Berkshire also added 2 million General Motors /zigman2/quotes/205226835/composite GM +1.06% shares to give it 62 million shares of the automaker during a quarter when its cash pile shrank to $106 billion from $147 billion because of all of its stock purchases.

The filing Berkshire submitted Monday doesn’t make clear which moves Buffett made and which investments were made by Berkshire’s two other investment managers. But Buffett typically handles all the company’s larger investments worth more than $1 billion, such as Berkshire’s stakes in Apple, Bank of America /zigman2/quotes/200894270/composite BAC +0.14% and Coca-Cola /zigman2/quotes/209159848/composite KO +0.17% . Buffett and other Berkshire officials don’t comment on these quarterly stock filings.

Recent SEC filings showed that Berkshire continued buying Occidental Petroleum shares after the first quarter ended and it now holds more than 15% of the oil producer’s stock.

In addition to all the new investments, Berkshire did sell off nearly $10 billion in stocks, including trimming its holdings in grocer Kroger /zigman2/quotes/206215053/composite KR +0.90% and Verizon Communications /zigman2/quotes/204980236/composite VZ +0.11% , and eliminating investments in drug makers Abbvie /zigman2/quotes/202428675/composite ABBV +0.39% and Bristol Myers Squibb /zigman2/quotes/202559280/composite BMY -0.78% .

Besides investments, Berkshire owns an eclectic assortment of more than 90 companies,  including BNSF railroad,  several major utilities, Geico and other insurers, and an assortment of manufacturing and retail companies.

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Add to watchlist BRK.A

Berkshire Hathaway Inc. Cl A

US : U.S.: NYSE

$ 510,840

-1,674 -0.33%

Volume: 6,244

June 9, 2023 4:10p

P/E Ratio

98.18

Dividend Yield

N/A

Market Cap

$735.64 billion

Rev. per Employee

$826,820

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Berkshire Hathaway Inc. Cl B

US : U.S.: NYSE

$ 335.29

-0.66 -0.20%

Volume: 2.62M

June 9, 2023 4:03p

P/E Ratio

96.66

Dividend Yield

N/A

Market Cap

$735.64 billion

Rev. per Employee

$826,820

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Chevron Corp.

US : U.S.: NYSE

$ 158.86

-0.38 -0.24%

Volume: 6.67M

June 9, 2023 4:03p

P/E Ratio

8.59

Dividend Yield

3.80%

Market Cap

$301.70 billion

Rev. per Employee

$5.29M

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Occidental Petroleum Corp.

US : U.S.: NYSE

$ 59.32

-0.39 -0.65%

Volume: 7.40M

June 9, 2023 4:00p

P/E Ratio

6.80

Dividend Yield

1.21%

Market Cap

$53.25 billion

Rev. per Employee

$2.94M

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HP Inc.

US : U.S.: NYSE

$ 29.80

-0.24 -0.80%

Volume: 6.44M

June 9, 2023 4:03p

P/E Ratio

11.30

Dividend Yield

3.52%

Market Cap

$29.62 billion

Rev. per Employee

$952,603

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Apple Inc.

US : U.S.: Nasdaq

$ 180.96

+0.39 +0.22%

Volume: 48.90M

June 9, 2023 4:00p

P/E Ratio

30.75

Dividend Yield

0.53%

Market Cap

$2840.13 billion

Rev. per Employee

$2.35M

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Citigroup Inc.

US : U.S.: NYSE

$ 48.30

+0.20 +0.42%

Volume: 11.75M

June 9, 2023 4:03p

P/E Ratio

6.74

Dividend Yield

4.22%

Market Cap

$93.64 billion

Rev. per Employee

$501,742

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Ally Financial Inc.

US : U.S.: NYSE

$ 28.00

-0.40 -1.41%

Volume: 2.96M

June 9, 2023 4:00p

P/E Ratio

6.89

Dividend Yield

4.29%

Market Cap

$8.54 billion

Rev. per Employee

$1.14M

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Paramount Global Cl B

US : U.S.: Nasdaq

$ 16.10

-0.48 -2.90%

Volume: 13.69M

June 9, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

1.24%

Market Cap

$10.90 billion

Rev. per Employee

$1.23M

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Markel Group Inc.

US : U.S.: NYSE

$ 1,342.27

-0.81 -0.06%

Volume: 24,478

June 9, 2023 4:00p

P/E Ratio

65.07

Dividend Yield

N/A

Market Cap

$17.93 billion

Rev. per Employee

$608,672

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Celanese Corp.

US : U.S.: NYSE

$ 113.63

-2.01 -1.74%

Volume: 1.92M

June 9, 2023 4:03p

P/E Ratio

8.36

Dividend Yield

2.46%

Market Cap

$12.58 billion

Rev. per Employee

$753,072

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McKesson Corp.

US : U.S.: NYSE

$ 393.91

+4.69 +1.20%

Volume: 667,941

June 9, 2023 4:03p

P/E Ratio

15.73

Dividend Yield

0.55%

Market Cap

$52.78 billion

Rev. per Employee

$5.43M

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General Motors Co.

US : U.S.: NYSE

$ 36.23

+0.38 +1.06%

Volume: 24.32M

June 9, 2023 4:00p

P/E Ratio

5.60

Dividend Yield

0.99%

Market Cap

$49.84 billion

Rev. per Employee

$962,521

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Bank of America Corp.

US : U.S.: NYSE

$ 29.27

+0.04 +0.14%

Volume: 32.69M

June 9, 2023 4:00p

P/E Ratio

8.81

Dividend Yield

3.01%

Market Cap

$232.94 billion

Rev. per Employee

$616,779

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Coca-Cola Co.

US : U.S.: NYSE

$ 60.47

+0.10 +0.17%

Volume: 12.58M

June 9, 2023 4:00p

P/E Ratio

26.64

Dividend Yield

3.04%

Market Cap

$261.07 billion

Rev. per Employee

$525,006

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Kroger Co.

US : U.S.: NYSE

$ 46.17

+0.41 +0.90%

Volume: 3.79M

June 9, 2023 4:00p

P/E Ratio

15.10

Dividend Yield

2.25%

Market Cap

$32.83 billion

Rev. per Employee

$344,786

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Verizon Communications Inc.

US : U.S.: NYSE

$ 35.47

+0.04 +0.11%

Volume: 14.96M

June 9, 2023 4:00p

P/E Ratio

6.91

Dividend Yield

7.36%

Market Cap

$148.95 billion

Rev. per Employee

$1.16M

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AbbVie Inc.

US : U.S.: NYSE

$ 138.18

+0.54 +0.39%

Volume: 4.36M

June 9, 2023 4:03p

P/E Ratio

32.54

Dividend Yield

4.28%

Market Cap

$242.84 billion

Rev. per Employee

$1.13M

/zigman2/quotes/202559280/composite

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Bristol Myers Squibb Co.

US : U.S.: NYSE

$ 64.80

-0.51 -0.78%

Volume: 7.07M

June 9, 2023 4:00p

P/E Ratio

18.88

Dividend Yield

3.52%

Market Cap

$137.21 billion

Rev. per Employee

$1.34M