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Warren Buffett's secret stock pick has finally been revealed: the insurer Chubb.
In a new regulatory filing, Mr Buffet's conglomerate Berkshire Hathaway reported it had purchased nearly 26 million shares of the Zurch-based insurer's stock, representing $6.7bn.
Shares in Chubb – which has worked with Donald Trump and the Titanic – soared by more than 8 per cent off the back of the news. As of just before 1pm ET on Thursday, Chubb’s share price stood at $264.
Berkshire had been granted confidentiality for two quarters to keep the details of one or more of its holdings confidential, and the purchases were not discussed during the conglomerate's annual meeting in Omaha earlier in May.
The conglomerate doesn't typically request confidentiality for its investments. The last time it made a similar request was in 2020 when it bought into Chevron and Verizon.
The Chubb shares mark Berkshire’s ninth biggest holding as of the end of March, according to CNBC.
Chubb has operated since 1882, with its companies insuring some of the cargo and passenger baggage on board the doomed Titanic. Today, it operates in 54 countries.
In March, the insurer hit headlines when it agreed to underwrite Mr Trump's nearly $92m appeal bond in his E Jean Carroll defamation lawsuit.
Berkshire is no stranger to the insurance industry. It has holdings in Geico, General Re reinsurance, and several home and life insurance companies. In 2022, it acquired Alleghany for $11.6bn.
The move to buy up shares in Chubb is in-line with Berkshire's recent investments in financial industries. Over the last few months, Berkshire has invested in Ally Financial, American Express, and the Bank of America.
It has also moved money out of consumer products, including selling off 10 million shares of Apple in February. Even with the sell-off, Apple remains Berkshire's largest holding. It also sold off 80 million shares of HP in the fourth quarter of 2023, reducing its holdings in the tech giant by 78 per cent.
FAQs
Support us to deliver journalism without an agenda. Warren Buffett's secret stock pick has finally been revealed: the insurer Chubb. In a new regulatory filing, Mr Buffet's conglomerate Berkshire Hathaway reported it had purchased nearly 26 million shares of the Zurch-based insurer's stock, representing $6.7bn.
What stock has Warren Buffett been buying? ›
The Berkshire Hathaway portfolio
| Company | Shares held | Percent of portfolio |
|---|
| Apple (AAPL) | 400,000,000 | 30.52% |
| Bank of America (BAC) | 942,429,882 | 13.48% |
| American Express (AXP) | 151,610,700 | 12.72% |
| Coca-Cola (KO) | 400,000,000 | 9.22% |
37 more rowsAug 16, 2024
“It's far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.” One way to misinterpret Warren Buffett's value investing is to assume that the only criteria for buying a stock is that it should be undervalued. This quote seeks to correct that misunderstanding.
What is Warren Buffett going to do with his money? ›
Buffett himself has pledged that 99% of his wealth will go to philanthropy during his lifetime or upon his death.
What stocks is Warren Buffett buying in 2024? ›
8 Best Warren Buffett Stocks to Buy in 2024
| Stock | Implied Upside from July 15 close |
|---|
| Occidental Petroleum Corp. (OXY) | 21.0% |
| Moody's Corp. (MCO) | 3.0% |
| Kraft Heinz Co. (KHC) | 27.0% |
| Chubb Ltd. (CB) | 16.1% |
4 more rowsJul 16, 2024
Buffett's favorite stock, of course, is Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), the company he has led for decades. Berkshire Hathaway isn't quite as diversified as an S&P 500 ETF, but it's not too far behind. The conglomerate owns over 60 subsidiaries and has stakes in over 40 other publicly traded companies.
What is Warren Buffett's golden rule? ›
"Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1."- Warren Buffet.
What is the Warren Buffett 70/30 rule? ›
A 70/30 portfolio is an investment portfolio where 70% of investment capital is allocated to stocks and 30% to fixed-income securities, primarily bonds.
Can I ask Warren Buffett for money? ›
Warren Buffett typically does not give money to individuals, although he frequently donates to charities. However, he has in the past forwarded individual requests for money to his sister, Ms. Doris Buffett, who operates an organization called the Sunshine Lady Foundation.
What are Warren Buffett's 5 rules of investing? ›
A: Five rules drawn from Warren Buffett's wisdom for potentially building wealth include investing for the long term, staying informed, maintaining a competitive advantage, focusing on quality, and managing risk.
Buffett Watch
| Symbol | Holdings |
|---|
| Amazon.com Inc | AMZN | 10,000,000 |
| American Express Company | AXP | 151,610,700 |
| Aon PLC | AON | 4,100,000 |
| Apple Inc | AAPL | 400,000,000 |
44 more rowsAs of 2024-09-13 03:19:00 PM CDT (updates daily): The Stock Market is Significantly Overvalued according to Buffett Indicator. Based on the historical ratio of total market cap over GDP (currently at 196.3%), it is likely to return 0% a year from this level of valuation, including dividends.
Are Bill Gates and Warren Buffett still friends? ›
Bill Gates and Warren Buffett have been friends for over 30 years. After hitting it off in their first meeting, they worked together on philanthropy for decades.
Who inherits Warren Buffett's money? ›
Buffett, 93, the chairman of Berkshire Hathaway, told the Wall Street Journal he has again re-worked his will — and that he does not plan to continue donations to the Bill & Melinda Gates Foundation after he dies. He will put his wealth in a new charitable trust overseen by his three children, he said.
What is Warren Buffett investing in right now? ›
Buffett Watch
| Symbol | Holdings |
|---|
| Amazon.com Inc | AMZN | 10,000,000 |
| American Express Company | AXP | 151,610,700 |
| Aon PLC | AON | 4,100,000 |
| Apple Inc | AAPL | 400,000,000 |
44 more rowsIn Bill Gates's current portfolio as of 2024-06-30, the top 5 holdings are Microsoft Corp (MSFT), Berkshire Hathaway Inc (BRK. B), Waste Management Inc (WM), Canadian National Railway Co (CNI), Caterpillar Inc (CAT), not including call and put options.
Does Warren Buffett own Snowflake stock? ›
However, as of June 30, Berkshire no longer owns Snowflake shares, as it sold them in the second quarter.
Why did Warren Buffett buy Sirius XM stock? ›
In a sense, Sirius XM has a monopoly in its field and that's the kind of business structure Buffett is attracted to because it usually means a business can command larger margins and generate higher earnings. What is this?
