Warren Buffett’s Berkshire Hathaway Inc dove into equity markets in the first quarter, spending more than $51 billion on stocks including a much larger stake in Chevron Corp.
Berkshire Hathaway Chairman Warren Buffett [File image]
The disclosures suggest that Buffett has finally found large new uses to dispose of Berkshire’s cash pile, which shrank more than $40 billion to about $106 billion in the quarter. Buffett has also committed $11.6 billion to buy insurance company Alleghany Corp, and bought $4.2 billion of HP Inc stock.
Net income totaled $5.46 billion, or $3,702 per Class A share, compared with $11.71 billion, or $7,638 per Class A share, a year earlier.
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