Warren Buffett kicks HP out of his portfolio
Legendary investor Warren Buffett is significantly reducing his stake in printer and PC manufacturer HP. After the 93-year-old became the largest shareholder with his investment company Berkshire Hathaway in April last year, more and more shares are now being removed from his portfolio.
Stock market guru Warren Buffet has sold half of his shares in PC manufacturer HP. As of November 30, the 93-year-old and his holding company Berkshire Hathaway only hold 51.5 million shares, according to a filing with the US Securities and Exchange Commission (SEC). This corresponds to a stake of 5.2 percent. Berkshire still held around 100 million shares in October.
Shares had already been removed from Buffett's portfolio in September. It is still unclear whether Buffett will completely divest himself of HP. However, the legendary investor once told CNBC: "We're not reducing positions. We don't do that, just as we don't do it when we buy 100 percent of a company."
In April 2022, the investment company announced a stake in HP worth 4.2 billion dollars, making it the computer company's largest shareholder. At the time, the company was still benefiting from increased sales volumes following the coronavirus pandemic. The purchase was an unusual move for the so-called Oracle of Omaha.
Buffett is not actually known for investing in tech stocks. True to his credo: don't invest in companies you don't understand. However, this attitude has changed in recent years and the proportion of his investments in the tech sector has grown. His most valuable single holding to date remains the iPhone manufacturer Apple.
Berkshire Hathaway also holds shares in Coca-Cola, among others. Buffett always advises investors to focus on the results of his group's operating business. With a fortune of more than 117 billion dollars, the investor is the fifth richest person in the world according to Forbes magazine. He and Berkshire Hathaway are highly regarded because of his investment decisions and the broad positioning of his group in many sectors.
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Despite the significant reduction in shares, Berkshire Hathaway, led by Warren Buffett, remains one of HP's largest stockholders. Buffett's stock trading decisions, including the purchase of HP shares in April 2022, have often deviated from his usual focus on traditional industries.
Source: www.ntv.de
