Berkshire drops 2 insurance companies from portfolio in Q4 2023

Berkshire Hathaway Inc. dropped Markel Group Inc. and Globe Life Inc. from its investment portfolio during the fourth quarter of 2023, after having reduced its holdings in both companies in the prior quarter.

Berkshire sold 158,715 shares of Markel — valued at about $233.7 million at the end of the third quarter of 2023 — to complete its exit from a position it had initially entered in the first quarter of 2022.

The Warren Buffett-led conglomerate held approximately 6.4 million shares of Globe Life as of March 31, 2023, but then shed its stake in the insurer in every subsequent quarter. During the fourth quarter of 2023, Berkshire sold its remaining holdings of Globe Life, which consisted of 831,014 shares valued at about $90.4 million as of the end of the previous quarter.

Berkshire also completely exited homebuilding company D.R. Horton Inc. and financial technology services provider StoneCo Ltd.

Position cuts

Berkshire cut its positions in Apple Inc., Paramount Global and HP Inc. during the fourth quarter of 2023.

The conglomerate slashed its holdings in HP by 77.7%, or approximately 79.7 million shares, and reduced its position in Paramount Global by 32.4%, or roughly 30.4 million shares. Berkshire shaved its holdings in Apple by just 1.1%, or about 10 million shares.

The conglomerate did not establish any new positions during the fourth quarter of 2023.