gfp Posted May 4 Share Posted May 4 (edited) Berkshire's Q1 results are out. Float is down ~$1 Billion from $169 -> $168 Billion. (edit: this was the effect of rounding, Float was only down a couple hundred million dollars during q1) Repurchases were $2.6 billion in the quarter. Operating earnings $11.222 Billion in Q1. Only Class A stock was repurchased in the quarter Edited May 4 by gfp Link to comment Share on other sites More sharing options...
UK Posted May 4 Share Posted May 4 AAPL holdings reduced by ~13 per cent? Link to comment Share on other sites More sharing options...
gfp Posted May 4 Share Posted May 4 5 minutes ago, UK said: AAPL holdings reduced by ~13 per cent? Certainly appears that the share count of the AAPL position went from 905,560,000 to something like 789,596,454 (plenty of rounding error in this number) Link to comment Share on other sites More sharing options...
longterminvestor Posted May 4 Share Posted May 4 Looks like AAPL has been reduced by over 100M shares. Holding is down to roughly 790M-800M shares. Link to comment Share on other sites More sharing options...
gfp Posted May 4 Share Posted May 4 Interestingly there was only $19.972 Billion of equity security sales in the quarter, so they didn't get a very high price for the AAPL stock sold in the quarter (or maybe there is enough rounding error in the estimated number of shares sold that my math is off) Link to comment Share on other sites More sharing options...
yesman182 Posted May 4 Share Posted May 4 So are we at like 180b cash/tbills or 22% of market cap? Link to comment Share on other sites More sharing options...
gfp Posted May 4 Share Posted May 4 (edited) 24 minutes ago, yesman182 said: So are we at like 180b cash/tbills or 22% of market cap? $189 B if you count all the subsidiary cash A decent chunk of the "bond portfolio" was so short dated that it crossed into "cash and cash equivalents" just through the passage of time. Edited May 4 by gfp Link to comment Share on other sites More sharing options...
CanadianMunger Posted May 4 Share Posted May 4 I love Warren but the size of this cash pile is...Indefensible Link to comment Share on other sites More sharing options...
gfp Posted May 4 Share Posted May 4 Just now, CanadianMunger said: I love Warren but the size of this cash pile is...Indefensible Just call it a "bond portfolio" and debate his decision on duration instead. If he put half of it in 2 year notes nobody would complain. Link to comment Share on other sites More sharing options...
John Hjorth Posted May 4 Share Posted May 4 The CNBC page streaming the AGM is now on a countdown. Link to comment Share on other sites More sharing options...
gfp Posted May 4 Share Posted May 4 1 hour ago, UK said: AAPL holdings reduced by ~13 per cent? Nice of Warren to call Tim Cook yesterday and let him know the big headline was going to be (almost) $20 Billion AAPL share sales in the quarter. Link to comment Share on other sites More sharing options...
Gamecock-YT Posted May 4 Share Posted May 4 I forgot how much I hate CNBC. Turning this into the Apple shareholder meeting. Link to comment Share on other sites More sharing options...
gfp Posted May 4 Share Posted May 4 1 minute ago, Gamecock-YT said: I forgot how much I hate CNBC. Turning this into the Apple shareholder meeting. "Warren sold Apple shares in the quarter because they didn't have a compelling story to tell on generative AI in the period!" Link to comment Share on other sites More sharing options...
Luca Posted May 4 Share Posted May 4 Moving Video! Link to comment Share on other sites More sharing options...
cubsfan Posted May 4 Share Posted May 4 20 minutes ago, Luca said: Moving Video! Wonderful Link to comment Share on other sites More sharing options...
John Hjorth Posted May 4 Share Posted May 4 Can you see the twinkle in the eyes of Mr. Buffett? He is as fresh as a sea eagle in a headwind - and that at the age 93! I sincerely hope his voice does not let him down under whole session. - And then, right now it's like his speeding up, after - slowly - warming up! Link to comment Share on other sites More sharing options...
gfp Posted May 4 Share Posted May 4 My impression is that he has continued to sell Apple shares after quarter-end since he seemed very confident that the $182 cash figure would be $200 billion at June 30. Link to comment Share on other sites More sharing options...
AzCactus Posted May 4 Share Posted May 4 Love hearing Greg speak. It's good to see the next generation. Link to comment Share on other sites More sharing options...
John Hjorth Posted May 4 Share Posted May 4 43 minutes ago, gfp said: My impression is that he has continued to sell Apple shares after quarter-end since he seemed very confident that the $182 cash figure would be $200 billion at June 30. He must have had the Pope on the phone, who may want to sell. Next : The Vatican City. Link to comment Share on other sites More sharing options...
Cigarbutt Posted May 4 Share Posted May 4 (edited) 3 hours ago, CanadianMunger said: I love Warren but the size of this cash pile is...Indefensible 3 hours ago, gfp said: Just call it a "bond portfolio" and debate his decision on duration instead. If he put half of it in 2 year notes nobody would complain. Whether it's conscious or not, planned or not or whatever, over the years, there has been some defensible movements of the fixed vs float quantity/duration balance. Using this methodology, at Q4 2023, the ratio was 106%, at Q1 2024, 112%. Even if there is some kind of rationality (relative lack of equity opportunities at reasonable prices), it's sometimes hard to differentiate tactical asset allocation from market timing. ----- i would say this aspect is also relevant for people wondering (on the FFH threads) how much money could be shifted from bonds to equities in certain circumstances. Edited May 4 by Cigarbutt minor addition potentially relevant to FFH Link to comment Share on other sites More sharing options...
blakehampton Posted May 4 Share Posted May 4 Buffett's point on corporate taxes is spot-on. A historically low rate during a time of record fiscal deficits is simply crazy. Link to comment Share on other sites More sharing options...
blakehampton Posted May 4 Share Posted May 4 Brittle, bitches Link to comment Share on other sites More sharing options...
gfp Posted May 4 Share Posted May 4 2 minutes ago, blakehampton said: Buffett's point on corporate taxes is spot-on. A historically low rate during a time of record fiscal deficits is simply crazy. Link to comment Share on other sites More sharing options...
blakehampton Posted May 4 Share Posted May 4 Just now, gfp said: Too bad Biden is too focused on taxing unrealized capital gains instead of the more straightforward option. Dude has literally zero understanding of how business works. Trump does, but he's the kind of character who'll forcefully take over the FED and then lower interest rates to zero. Link to comment Share on other sites More sharing options...
backtothebeach Posted May 4 Share Posted May 4 What a class act, Warren! Makes me want to become a Berkshire shareholder again… Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now