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Warren Buffett.
Drew Angerer/Getty Images
Warren Buffett sounded negative about the outlook
Paramount Global
on two occasions during the second quarter. Was his suspicion enough about him?
Berkshire Hathaway
to sell its share?
Investors will find out the fate of the stake in the media company (stock ticker: PARA) and other potential changes to Buffett’s $350 billion stock portfolio when Berkshire Hathaway (BRK. A, BRK. B) issues its second-quarter 13-F filing. It is expected late on Monday.
We know that Berkshire sold more shares than it bought in the second quarter. Berkshire bought about $4.5 billion in shares in the second quarter and sold about $12.5 billion, on a basis Barron Read its equity purchases and sales in its statement of cash flowss 10-o, chest on aug. 5.
Berkshire was a seller for about $1.5 billion
chevron
(CVX) in the period denoting 10-Q. Potential sale of approximately $3 billion of
Activision Blizzard
(ATVI) during the second quarter, based on a recent filing.
The remaining $8 billion in sales must be disclosed Monday in a 13-F filing
Berkshire’s largest holding, Apple (AAPL),
American Express
(AXP),
coca cola
(KO) f
American bank
(BAC) remains unchanged In the quadrant, 10-Q indicates. That means sales were concentrated in some of Berkshire’s small equity investments, which Buffett manages as well as investment managers Todd Combs and Ted Wechsler.
One selling candidate is Paramount. At the end of the first quarter, Berkshire owned 93 million shares worth $1.5 billion of the owner of the CBS television network and the Paramount movie studio. Paramount was not a winner for Berkshire. Barron It is estimated that it drove Paramount’s share price twice the current price by about $15.
In an interview with CNBC in April and at Berkshire’s annual meeting, Buffett sounded pessimistic about the company, telling CNBC that “going live…isn’t really a good business.” When asked why he bought the stock, Buffett replied, “Well, we’ll see what happens.” He commented that people in entertainment have done well over time but contributors in general have not.
During the second quarter, Berkshire was a buyer of nearly $1 billion of
Occidental Petroleum
(OXY), based on filings, and possibly a similar amount for the five Japanese trading companies in which Berkshire now owns about $20 billion in total. 13-F should explain what Berkshire bought in the second quarter even though foreign investments such as Japanese trading companies are not generally included in those reports.
Write to Andrew Bary at andrew.bary@barrons.com