Sale of Energy Stocks the Biggest Highlight in Berkshire's 4Q Equity Portfolio
Warren Buffett’s Berkshire Hathaway had a shift in strategy in the fourth quarter as it unloaded most of its energy holdings to buy more of Deere and IBM.
Wide-moat
Likely spurred on by the collapse in oil prices, the insurer eliminated its stakes in
The insurer used most of the proceeds to add to its stakes in Deere and IBM. The firm's holdings in Deere, which had been excluded from its third-quarter 13-F filing (as Berkshire was likely adding significantly to its stake and received permission to withhold its actions), accounted for close to 2% of Berkshire's holdings at the end of last year, making it a $2 billion plus holding. The company also added more than $1 billion to its stake in IBM.
The rest of the cash that was raised was used to fund fairly meaningful additions to its holdings in
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