- Berkshire Hathaway held 4,096,146 shares in Aon, worth US$ US$942.6 million, as of March 31.
- The conglomerate reduced its holding in Wells Fargo by 98 percent to 675,054 shares.
- Berkshire’s holding in Chevron almost halved to 23,672,271 shares, worth US$2.48 billion.
Warren Buffett’s Berkshire Hathaway has bought stakes in Aon, while it sold a huge chunk of its holdings in Wells Fargo and Chevron. The billionaire’s conglomerate disclosed its holdings in listed companies as of March 31 in a Form 13F filing with the U.S. Securities and Exchange Commission on Monday.
Aon plc (NYSE: AON)
Dublin-based Aon is a professional services company that provides risk, reinsurance, retirement, health solutions and data and analytical services to its clients to reduce volatility and improve performance.
According to the filing, Berkshire Hathaway bought 4,096,146 shares in Aon, worth US$ US$942.6 million during the first quarter.
Aon’s stock trades on NYSE, and it has a market capitalization of over US$57 billion. The stock grew around 21 percent year to date, while it rose 30 percent in the last one year.
For the first quarter ended March 31, 2021, Aon saw its EPS jump 22 percent year over year to US$4.0 while its adjusted EPS was US$4.28, up 16 percent.
Wells Fargo & Company (NYSE: WFC)
Berkshire slashed its holding in Wells Fargo by 98 percent during the first quarter. As of March 31, Berkshire held 675,054 shares in Wells Fargo valued at US$26.374 million. It compares with 52,423,867 shares it had at the end of 2020, which was valued at US$1.58 billion.
Wells Fargo’s stock rallied around 58 percent year to date, while it soared 95 percent in the last 12 months. The company has a market capitalization of over US$195 billion.
In the first quarter, Wells Fargo’s net income increased to US$4.74 billion, or US$1.05 per share, from US$653 million, or 1 cent per share, in the year-ago period.
Chevron Corporation (NYSE: CVX)
At the end of the first quarter, Berkshire’s holding in oil and gas major Chevron almost halved to 23,672,271 shares, worth US$2.48 billion.
Chevron’s stock has grown approximately 28 percent year to date. The California-based company has a market capitalization of over US$205 billion. The stock rose around 18 percent in the last one year, and it has a 52-week trading range of US$65.16 to US$113.11.
Chevron recently reported its first-quarter profit of US$1.38 billion, or 72 cents per share, which represents a decline from US$3.60 billion, or US$1.93 per share, in the year-ago quarter.
Besides these three companies, Berkshire also reported changes in its holdings in other companies.
Berkshire sold all its shares in Synchrony Financial (NYSE: SYF) and Suncor Energy Inc. (NYSE: SU) and reduced its holdings in companies like General Motors Company (NYSE: GM), AbbVie Inc. (NYSE: ABBV), and Merck & Co. Inc. (NYSE: MRK). Meanwhile, the conglomerate raised its shareholding in Verizon Communications Inc. (NYSE:VZ) and Kroger Co (NYSE: KR).