Cash app business transaction email11/21/2023 In contrast, the cost base of its consumer-products stocks dropped by about 3% to $35.5 billion, and the "commercial, industrial, and other" segment recorded an 8% decline to $51.1 billion.īerkshire previously disclosed that it sold HP stock worth about $500 million in September, which explains some of the cost-base decline in consumer products. The cost base of its banks, insurance, and finance stocks rose by 5% to $24.8 billion. That holding would've been valued at about $21 billion if Berkshire still had the 123 million shares it owned at the end of June, based on Chevron's stock price at September's close.īuffett's company, which sold more than $5 billion of stocks on a net basis last quarter, seems to have scooped up some financial stocks while paring other parts of its portfolio. Its stake in the oil-and-gas titan was worth $18.6 billion at the end of September, its latest earnings show. Selling Chevronīerkshire appears to have sold Chevron stock worth $2 billion last quarter, or about 10% of its position. It's no surprise that Buffett and his colleagues have moved to capture that improved risk-free return while they wait for better opportunities to deploy their dry powder. The Federal Reserve has hiked its benchmark rate from nearly zero to north of 5% since early last year in response to historic inflation, which has boosted Treasury yields. The conglomerate's embrace of bonds this year helps explain why it collected more than $11 billion of interest, dividend, and other investment income in the year to September - roughly double the figure for the same period of 2021. Meanwhile, its pile of Treasury bills rose by 30% to $126 billion in that period. Its cash reserves shrank by $19 billion, or 38%, to about $26 billion during the next three months. Berkshire held about $50 billion of cash and cash equivalents and $97 billion of Treasury bills at the end of June.
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