Warren Buffett finally revealed the mysterious company in which he invested billions of dollars

Warren Buffett finally revealed the mysterious company in which he invested billions of dollars

The mystery is over: Berkshire Hathaway’s Warren Buffett revealed a major stake in insurance company Chubb, finally revealing an investment he has been hiding since last year.

Berkshire disclosed it acquired nearly 26 million shares of Chubb in a Securities and Exchange Commission filing Wednesday about the company’s first-quarter investment. That translates to a value of about $6.7 billion.

Buffett’s company has shielded the position from public knowledge as it builds interests, requesting “confidential treatment” from the SEC in previous filings.

Chubb, an insurance business that operates in 54 countries, made headlines in March after the company underwrote President Donald Trump’s nearly $92 million appeal bond in E. Jean Carroll’s defamation lawsuit.

Buffett, the Berkshire CEO known for his investment prowess, has amassed a large following of investors who mimic his portfolio moves. Berkshire Hathaway’s stake in Chubb is no exception. Chubb shares jumped more than 8% in after-hours trading on Wednesday.

Buffett’s bet on Chubb is familiar territory: insurers Geico, National Indemnity and General Re are all subsidiaries of Berkshire Hathaway.

The investment in Chubb underscores Berkshire Hathaway’s investment strategy over the past several months. It appears to have doubled down on financial companies such as Ally Financial, American Express and Bank of America while reducing its investment in consumer products.

In February, Berkshire revealed that it sold 10 million shares of Apple in the first three months of the year, although Apple remains Berkshire’s largest investment. Berkshire also sold 80 million shares of printer company HP in the fourth quarter of 2023, reducing its stake by 78%.

About Kepala Bergetar

Kepala Bergetar Kbergetar Live dfm2u Melayu Tonton dan Download Video Drama, Rindu Awak Separuh Nyawa, Pencuri Movie, Layan Drama Online.

Leave a Reply

Your email address will not be published. Required fields are marked *