5 Highlights of Berkshire Hathaway 2020 Third Quarter Report
5 Highlights of Berkshire’s third quarter report:
(1) Berkshire in Q3 bought back $9 billion of stock. The 9 month total now equals $16 billion, which exceeds any previous year total.
(2) Berkshire on September 30 slightly reduced its cash from Q2 to $145.7 billion.
(3) Berkshire’s Q3 2020 operating earnings declined by 32%.
(4) Berkshire reduced its stake in Apple by 4% during Q3, selling 40 million shares for about $4 billion. As of September 30, Berkshire’s stake equaled 966 million shares that are currently valued at $112 billion, which exceeds its cost of $35 billion by $77 billion. One of Warren Buffett’s portfolio managers, Todd Combs or Ted Weschler, may have been responsible for these sales.
(5) Berkshire reduced its holdings in “Banks, insurance, and finance” by $4 billion (cost basis), increased “Commercial, industrial, and other” by $15 billion (cost basis), and decreased “Consumer products” by $1.7 billion (cost basis).
