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Funny CNBC article that implies that Apple Inc wasn't a "value stock" at the time Warren bought it. Who knows https://www.cnbc.com/2020/07/16/warren-buffett-reaps-40-billion-from-giant-apple-stake-since-march-bottom.html

Haven't read the article but the shareholders were a few family LLCs which have since filed for bankruptcy so I doubt any cash will be headed back. But you never know

If I understand the trade you are describing correctly, it should not need margin. Option-specialist brokers allow this type of trading in IRA accounts. You would only need to claim experience or whatever gets you the trading permissions / authority. Do you mind sharing which brokerage this occurred at? They should just honor the trade, even if their own IRA offering does not allow spread trading at this time. ** Nevermind I see Merrill Edge in thread title now

He did not. His foundation, the Jain Foundation, sold the shares. Presumably to make donations, fund research, be charitable, meet minimum requirements to remain a tax exempt foundation, etc... https://www.sec.gov/Archives/edgar/data/1067983/000172845120000003/xslF345X03/primary_doc.xml

I wonder if Warren set himself a little alert on his new iPhone to let him know when Apple hits $398.62 per share. I would not be disappointed if he sold some here. Tax rate could be changing next year after all * edit - and there we have Berkshire's first 12 figure stock position. not too many investments available where that is possible

Sorry didn't see your question. Yes, it is basically 19,374 divided by 1,620,023. So approximately 1.2% if we have it right. I am assuming by float you mean all the shares outstanding and not the free float that trades.

They are not putting $10 Billion cash into buying the D assets. And it won't happen until the end of the year. They also sold all their airline stocks, raising cash. Plus whatever rolled in through typical business operations and investment income. Cash could be $145 Billion at quarter end I suppose. I was thinking $150-ish before knowing the repurchase figures.

My math for July 7th implied share count is the same as your math a few posts above. If 248,740.792 is 15.54% economic interest, then 100% of economic interest is going to be 1,600,648.597 A-share equivalents. I think you had the July share count correct a few posts ago. Not sure what changed your mind.

Yes, 19,374.65 A-share equivalents this quarter - actually since 4/23/2020 because there were virtually zero repurchases between quarter end and 4/23.

WSJ has an article about the OXY warrants that Icahn hatched up. I'm not sure they have it 100% correct as it relates to the Berkshire security's protections against dilution. They also seem to miss that OXY has to pay Berkshire 9%, not 8%, when paying the dividend in stock. Will have to take a peek at the filings for the OXY Berkshire preferred after I walk the dog https://www.wsj.com/articles/oxys-sweetener-a-bitter-pill-for-warren-buffett-11594378801

I would expect Berkshire's cash to be close to $150 Billion at quarter end. I would also recommend factoring in a return to pre-Trump corporate tax rates and the associated increase in deferred tax liabilities/decrease in book value and intrinsic value. That said, Berkshire is as cheap as it has been in a very long time and the insurance business looks very very well positioned. disclosure, long BRK, short SPX

Off topic - blast from the past Harry Long! https://seekingalpha.com/author/harry-long#regular_articles Busy with algorithms for the last decade

Berkshire released a bit more commentary on this year's annual gift by Warren to the various foundations. Must be an election year https://berkshirehathaway.com/news/jul0820.pdf

Since Buffett gets a lot of flak for not doing much for Berkshire shareholders recently, I've been curious to track his most recent major material capital allocation decision, which is still the Apple investment. He also made the decision to reduce Wells Fargo, which not too long ago was Berkshire's largest equity position (if I am remembering correctly). Berkshire owns 250.867 million AAPL shares as far as we know (most recent disclosures), right now valued at a hair under $95 Billion. Wells Fargo has 4.1 Billion shares outstanding in total, valuing the entire company at $102 Billion today. Just for curiosity sake, I am interested to see if Berkshire's position in Apple does in fact cross above the value of the entire Wells Fargo market cap. Wells looks weak but is probably undervalued by quite a bit (Berkshire stopped selling when the price dropped. Berkshire's sales were not because of the 10% rule recently, he chose to reduce voluntarily). Apple is obviously at an all time high and the strength of the business seems fully appreciated these days. Incidentally, Berkshire's cost basis is $35.287 Billion for the 250,866,566 Apple shares they own. A gain of just under $60 Billion pretax before the growing dividends are counted.

According to this presentation from Dominion, BHE has committed to de-leveraging the acquired gas assets after purchase. Including not refinancing $1.2 Billion worth of maturities in the next 12 months (11-2020 and 6-2021). So I guess that would require a capital contribution from Berkshire and, depending on if Scott family and Abel chip in, an increased ownership interest in BHE for Berkshire parent co. So it could be $5.2 Billion -ish of cash that gets put to work here. Or deleveraging DEGH could just mean BHE borrows at a higher level outside of this entity. Who knows... https://www.sec.gov/Archives/edgar/data/715957/000119312520187844/d939155dex992.htm presentation page 15 shows deleveraging commitments over the next 12 months

Looks like the market came around to this view - at least for the time being.

Berkshire Energy's press release is a good place to start. Sounds like a sensible price and a good fit for BRK Energy. Ought to be very accretive if they borrow most of their $4 Billion cash consideration. Doesn't really do anything to help reduce Berkshire's cash position. I doubt Berkshire even makes a capital contribution to BRK_energy for this. https://www.brkenergy.com/news/berkshire-hathaway-inc--energy-company-to-acquire-dominion-energy-gas-transmission-and-storage-business

This has been reported on for a while now, but The NY Times put out a good article detailing some of the fraud at PCP acquisition Wilhelm Shultz. Makes for an interesting read and sounds like a clear fraud that PCP will be ultimately unable to collect any money on, despite "winning" in arbitration - https://www.nytimes.com/2020/07/01/business/berkshire-hathaway-fraud-germany.html?action=click&module=Well&pgtype=Homepage&section=Business

Duh... The race riots and COVID-19 "pandemic" were both manufactured by the elite to distract the main stream media from covering their pedophilia and human trafficking. Its the great awakening and Trump is in on it and speaking in secret codes to the chosen few. I mean, you must have noticed the hidden messaging with George Floyd being held down for 8:46 when the first plane "hit" the world trade center at 8:46am right? C'mon sheeple! ;)

Why wouldn't warrant holders wait until near expiration in May 2021 to exercise warrants?

Yes indeed, well covered here and elsewhere. Also his net worth is not over $500 million. At his day-trading high he was claiming $118m or something like that. Not that it matters (to me - it obviously matters to him quite a bit).

Yikes, I guess you are right. Seemed like he was drinking in most of his videos, day or night. I loved the irony of the 'I should be up a Billion dollars today!' line on the day old man Buffett watched his largest equity position - a tech stock - go up by $10.53 per share, while owning 250,866,566 shares of that tech stock. Looks like there is a very real possibility that Berkshire's largest equity position will be worth more than the entire market cap of Wells Fargo at some point. But seriously, what have you done for me lately old man?

Seems like it is in jest. Is there reason to believe that particular guy is serious?

General comments on 6/1 reinsurance renewal pricing - https://www.businessinsurance.com/article/20200602/NEWS06/912334892/Reinsurance-rates-jump-as-COVID-19-adds-uncertainty-to-market#

Best of luck in the future - you will be missed! Thanks so much for your contributions