Warren Buffett continues to play defense in the stock market, reducing Berkshire Hathaway ( BRKB ) exposure to equities yet again.Berkshire Hathaway’s cash pile hit another record.
X On Saturday, Berkshire Hathaway released its third-quarter report.Berkshire equity sales were a net $1.95 billion, up from $1.1 billion in the second quarter but down from Q1’s $3.9 billion.It’s the fourth straight quarter that Warren Buffett has been a net seller of stocks.
Buffett has been a big buyer in the ultimate Warren Buffett stock.Berkshire bought back $7.6 billion in BRKB stock, up from $6 billion in Q2 and $6.6 billion in Q1.Year to date, BRKB stock buybacks total $20.6 billion vs.$24.7 billion for all of 2020.
Berkshire Hathaway cash on swelled to $149.2 billion as of Sept.
30.That’s up from $144.1 billion at the end of Q2 and $145.4 billion at the end of Q1.
Buffett’s stock portfolio remains highly concentrated.In Q3, 68% of its value was comprised of Apple ( AAPL ) ($120.4 billion), Bank of America ( BAC ) ($31.3 billion), American Express ( AXP ) ($18.3 billion), and Coca-Cola ( KO ) ($21.9 billion).
It’s a Dow-heavy investment portfolio.Apple stock, American Express and Coca-Cola are all Dow Jones components.
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Berkshire Earnings Berkshire Hathaway earnings, which include investments and derivatives, fell to $10.34 billion from $30.14 billion a year earlier.Berkshire earnings on a GAAP basis can be very volatile.
Berkshire earnings rose 18% on an operating basis to $6.882 billion.Higher profit at its railroad, utilities and energy divisions offset a larger insurance underwriting loss.
BRKB Stock BRKB stock edged up 0.1% to 287.88 in Friday’s market trading.Shares have a 292.32 handle buy point in a consolidation going back six months.
However, the relative strength line for BKRB stock has fallen to an eight-month low.
The RS line, the blue line in the chart provided, tracks a stock’s performance vs.the S&P 500 index.
Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
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