Berkshire Hathaway Just Bought $212 Million of This Beaten Down Stock in 3 Days, and Its Stake Has Increased 81% This Quarter
It's part of a broader turnaround investment in a struggling industry.
Warren Buffett recently placed trust in Greg Abel as the chief executive officer at Berkshire Hathaway, bestowing upon him control over the company's substantial $700 billion investment portfolio. To assist Abel in his monumental responsibility, Buffett has provided guidance, alongside Ted Weschler, a seasoned Berkshire investment manager who manages around 6% of the portfolio.
Under Berkshire Hathaway's new leadership, Abel has been actively deploying capital by investing in both new marketable equity positions and completing acquisitions. Among his recent acquisitions, one stands out: a significant purchase of Alphabet. Abel also successfully completed the acquisition of homebuilder Taylor Morrison.
While quarterly reports typically reveal Berkshire Hathaway's latest moves, recent Securities and Exchange Commission filings have disclosed another substantial purchase by the company. This particular investment amounted to over $212 million, completed within a span of just three days.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
