A Few Surprise Purchases for Berkshire
The Oracle of Omaha and his lieutenants initiated positions in JPMorgan Chase and Oracle, among others, last quarter.
There were a few surprises in wide-moat
While we expected to see buying activity, given the company's recent 10-Q highlighted $17.7 billion in purchases (offset by $5.2 billion of sales), our belief had been that much of that capital had been directed to narrow-moat
In reality, Apple ended up being one of the smallest purchases (523,000 shares for an estimated $107 million) for the insurer during the period, with Berkshire dedicating close to $14 billion to the purchase of stocks of financial services firms--namely narrow-moat
Other purchases included a new $2 billion stake in wide-moat
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