5 Blue Chip Stocks to Buy According to Billionaire Jim Simons

In this piece, we’ll take a look at the 5 blue chip stocks to buy according to billionaire Jim Simons. For more stocks, the risk/reward and the methodology of this list, head on to 10 Blue Chip Stocks to Buy According to Billionaire Jim Simons.

5. Berkshire Hathaway Inc. (NYSE:BRK-B)

Renaissance Technologies Stake Value: $488 million

Percentage of Renaissance Technologies’ Portfolio: 0.57%

Number of Hedge Fund Holders: 109

Berkshire Hathaway Inc. (NYSE:BRK-B) is a holding corporation whose subsidiaries engage in a variety of businesses. Insurance is the company’s core business division, which is principally managed by Geico, Berkshire Hathaway Reinsurance Group, and Berkshire Hathaway Primary Group.

Barron’s recently reported that it is a good time to buy Berkshire Hathaway Inc. (NYSE:BRK-B) as the company has never been in better shape. Its stock looks appealing after pulling back more than 15% from its record high in March. The conglomerate’s operating profits were up 22% in the second quarter, excluding foreign-exchange gains, powered by a 56% gain in investment income. Berkshire’s annual operating income is running at more than $30 billion after taxes, the author notes.

Investment management company Diamond Hill Capital mentioned Berkshire Hathaway Inc. (NYSE:BRK-B) in its “Diamond Hill Large Cap Fund” first-quarter 2022 investor letter. Here is what the firm had to say:

“Diversified holding company Berkshire Hathaway reported strong earnings during the quarter and benefited from continued share repurchases below intrinsic value. The company also announced significant deployments of excess cash during the quarter, including the acquisition of Alleghany and a large increase in its stake in Occidental Petroleum.”

At the end of Q2 2022, 109 hedge funds tracked by Insider Monkey owned Berkshire Hathaway Inc. (NYSE:BRK-B). Bill & Melinda Gates Foundation Trust was the stock’s leading stakeholder in Q2, owning Berkshire Hathaway Inc. (NYSE:BRK-B) shares worth over $9.4 billion.