Major Changes to Berkshire Hathaway’s Stock Portfolio During Third Quarter 2021

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Dr. David Kass
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The following are the major changes made to Berkshire Hathaway’s stock portfolio during the third quarter of 2021.

Q3 2021 hedge fund letters, conferences and more

Berkshire Hathaway Warren Buffett

New Positions:

(1) Royalty Pharma plc (+$475 million)

(2) Floor and Decor Holdings (+$100 million)

Addition to Positions:

(1) Chevron (+$560 million) (24% of stake)

Position Sold:

(1) Merck (-$750 million)

Position Reductions:

(1) Charter Communications (-$700 million) (19% of stake)

(2) AbbVie (-$600 million) (30% of stake)

(3) Bristol-Myers Squibb (-$250 million) (16% of stake)

(4) Marsh & McLennan (-$200 million) (35% of stake)

(5) U.S. Bancorp (-$150 million) (2% of stake)

Article by Dr. David Kass

HFA Padded

David I Kass Clinical Associate Professor, Department of Finance Ph.D., Harvard University Robert H. Smith School of Business 4412 Van Munching Hall University of Maryland College Park, MD 20742-1815 Phone: 301-405-9683 Email: dkass@rhsmith.umd.edu (link sends e-mail) Dr. David Kass has published articles in corporate finance, industrial organization, and health economics. He currently teaches Advanced Financial Management and Business Finance, and is the Faculty Champion for the Accelerated Finance Fellows. Prior to joining the faculty of the Smith School in 2004, he held senior positions with the Federal Government (Federal Trade Commission, General Accounting Office, Department of Defense, and the Bureau of Economic Analysis). Dr. Kass has recently appeared on Bloomberg TV, CNBC, PBS Nightly Business Report, Maryland Public Television, Business News Network TV (Canada), Fox TV, American Public Media's Marketplace Radio, and WYPR Radio (Baltimore), and has been quoted on numerous occasions by Bloomberg News and The Wall Street Journal, where he has primarily discussed Warren Buffett and Berkshire Hathaway. He has also launched a Smith School “Warren Buffett” blog. Dr. Kass has accompanied MBA students on trips to Omaha for private meetings with Warren Buffett, and Finance Fellows to Berkshire Hathaway’s annual meetings. He is an officer of the Harvard Business School Club of Washington, DC, and is a member of the investment and budget committees of a local nonprofit organization. Dr. Kass received a Smith School “Top 15% Teaching Award” for the 2009-2010 academic year.