Warren Buffett named Chubb as a secret acquisition target, according to a new regulatory filing, and there were some other changes to Berkshire Hathaway’s stock portfolio in the first quarter. First, the Omaha-based conglomerate adjusted its energy exposure last quarter, slightly increasing its holdings in Occidental Petroleum Co. and trimming its holdings in Chevron. Berkshire has been steadily increasing its bets on Occidental Petroleum since first taking on the position in the first quarter of 2022. %. He said he sold some of his large holdings for tax reasons after making huge gains. He suggested the sales could be a means to avoid higher tax bills in the future if tax rates rise to help curb the ballooning U.S. fiscal deficit. Aside from these changes, Berkshire Hathaway’s top 10 holdings remained unchanged last quarter. In terms of stake reductions, the group slashed its stake in building materials manufacturer Louisiana-Pacific by about 6%. Berkshire also exited its stake in HP last quarter. Buffett told shareholders at Berkshire Hathaway’s annual meeting earlier this month that he sold his Paramount shares at a total loss.
Warren Buffett’s Berkshire Hathaway made several changes to its stock portfolio last quarter
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