00:00Let's turn now to Warren Buffett's last bets before retiring from Berkshire Hathaway.
00:04Berkshire cut its stake in Amazon by more than 75 percent in the fourth quarter.
00:09For more on this and other takeaways from 13F filings, which we got yesterday,
00:13we're joined by Bloomberg's Hema Parmar. Hema, I mean, this does feel like an about face from
00:16Berkshire considering Warren Buffett said, my bad, I should have been investing in tech
00:22only a few years ago and piled into Amazon. And the timing is really interesting. You know,
00:26as we look at 13Fs right now, we can actually see who probably made money and who likely lost
00:32ahead of the volatility that we've seen since January. And when we look at Amazon,
00:37down about 8 percent since the end of the third quarter. And Berkshire cutting that stake by 75 percent.
00:44We've seen a few other firms as well. Third Point cut its position, reduced that exposure.
00:50Viking, on the other hand, started a brand new holding in Amazon, really ramping that up.
00:56And when we look at Bill Ackman, he bought Amazon and it's the third biggest bet.
01:01There is a pretty concentrated portfolio. I say there's a lot of divergence between the
01:05big tech players. They certainly weren't a monolith and the funds weren't a monolith.
01:08I know you've also been looking at how Microsoft was treated among these funds, too.
01:11Exactly. And with Microsoft, it's down more than 20 percent. So that's a bet that's really been
01:17struggling. And when we look at the divergence there, it's quite fascinating. So Tiger Global
01:21really reduced that stake about 16 percent. When we look at Tiger, they really stepped
01:27back a little bit from the market, reducing their equity exposure by more than two billion dollars.
01:33You see a lot of trimming in their AI positions and more cautiousness. And remember, a lot of
01:39these Tiger Cubs really have lived through a very difficult 21 and 22 where we saw a lot of tech
01:45volatility. So we might be seeing a bit more cautiousness there with that. But as we look at
01:50Viking, for example, they increased their stake in Microsoft by 32 percent. So we do see quite
01:57different positioning. What's going on in Viking? Because they also have a new buy with Alphabet,
02:01right? Yes, they do. And if we look at Alphabet, they bought a new stake. Also Maverick started a new
02:06position in Alphabet. This is a stock that's done a bit better. This is a stock that's up about 24
02:11percent
02:11since the end of the third quarter. And we look at that period since that's the last time we got
02:16any
02:16insight into how these funds are positioned. A new buy for Viking, a new buy for Maverick.
02:21For Maverick, it's his fifth biggest position. So you do see some chunkier sizing when it comes to
02:26these sorts of funds. And you also see divergence. Co2 sold some of its stake. Pershing also sold some of
02:33its stake. So getting out of a bet that actually did pretty decent.
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