Warren Buffett, considered one of the world’s greatest investors, has finally found a way to reduce his seemingly record pile of cash. The veteran investor, who has been struggling for a long time to choose the right stock to invest in, has finally discovered a secret stock in which his company has invested billions of dollars in the last few months.
This Is Warren Buffet’s Secret Stock
The latest share to be included in Warren Buffett’s portfolio is Chubb. Warren Buffett’s company, Berkshire Hathaway, will buy Chubb shares in the third quarter of 2023. There were reports of a new stock being added to Buffett’s portfolio, but until now, no one knew its name. For this reason, it was being called Warren Buffet’s secret stock and Berkshire’s secret stock.
Revealed In SEC Filing
According to a report by Business Insider, Berkshire Hathaway has now told everyone about its secret stock, which belongs to Chubb, a big insurance company. Berkshire Hathaway gave this information in an SEC filing on Wednesday. About nine months ago, Buffett’s company Berkshire Hathaway started buying this insurance stock, and until now, it has bought Chubb’s shares worth about $7 billion.
Bought So Many Shares In Three Quarters
Berkshire Hathaway first purchased 8.1 million shares of Chubb in September last year. That deal was done for 1.7 billion dollars. More shares were purchased during the subsequent quarter, i.e. from September to December 2023. In this way, the total shareholding value increased to $4.5 billion. This buying trend continued even in the first quarter of this year. Berkshire Hathaway now holds 25.9 million shares in Chubb, valued at $6.7 billion.
Company Worth 100 Billion Dollars
It is unknown whether Berkshire purchased more insurance company shares after March. Chubb has a market cap of approximately $100 billion and provides various insurance products in 54 countries, including life insurance, health insurance, reinsurance, etc. According to the data, Berkshire’s stake in Chubb will be about 6.4 percent until the end of March.
