Top 5 Stock Picks of John Hempton’s Bronte Capital

2. Berkshire Hathaway Inc. (NYSE:BRK-A)

Bronte Capital’s Stake Value: $116,496,000
Percentage of Bronte Capital’s 13F Portfolio: 13.35%
Number of Hedge Fund Holders: 109

Berkshire Hathaway Inc. (NYSE:BRK-A)’s specializes in the utilities, energy, freight rail transportation, banking, manufacturing, and retail businesses. In addition, the firm offers property and liability insurance, as well as reinsurance. John Hempton’s Bronte Capital owned 426,694 Berkshire Hathaway Inc. (NYSE:BRK-A) shares in the second quarter of 2022 after purchasing an additional 365,649 shares.

On August 7, Keefe Bruyette analyst Meyer Shields boosted his price objective on Berkshire Hathaway Inc. (NYSE:BRK-A) to $535,000 from $480,000 and maintained a ‘Market Perform’ rating on the stock. In a research note, Shields explained to investors why the company’s Q2 operating earnings were remarkably beyond those expected by the Street, a lower than expected tax rate and higher than expected results from the insurance, railroads, utilities, and energy sectors.

Among the hedge funds tracked by Insider Monkey, 109 were bullish on Berkshire Hathaway Inc. (NYSE:BRK-A) at the end of June 2022, compared to 104 funds in the preceding quarter. Michael Larson’s Bill & Melinda Gates Foundation Trust is a prominent shareholder of Berkshire Hathaway Inc. (NYSE:BRK-A) as of Q2 2022, with 34.69 million shares worth $9.47 billion.

In its Q1 2022 investor letter, Diamond Hill Capital mentioned Berkshire Hathaway Inc. (NYSE:BRK-A) and explained its insights for the company. Here is what the fund said:

“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.”