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The MarketWatch News Department was not involved in the creation of this content. Feb 23, 2021 (Baystreet.ca via COMTEX) — For decades, Berkshire Hathaway (NYSE:BRK.B) chairman and CEO Warren Buffett maintained a pretty conservative approach to investing, favoring retail and banking stocks while avoiding sectors such as tech and energy. However, he finally pulled the trigger on PetroChina Co. (NYSE:PTR) in 2002 and Apple Inc. (NASDAQ:AAPL) in 2011. The Oracle’s foray into energy and tech initially paid off after he realized a tidy $3.5B profit on PetroChina, while his $90 billion Apple stake now represents a ridiculous 20% of Berkshire Hathaway’s market value. However, Buffett has lately been doubling down on his energy investments while trimming his tech and banking holdings. After a period of relative calm last year, Warren finally announced some long-awaited investments, including a $4.1 billion investment in Chevron Inc. (NYSE:CVX), good for a nearly 2.5% stake in the giant oil company. Chevron is now the conglomerate’s 10th biggest equity holding. Meanwhile, Buffett trimmed its holding in Apple to 887.1M shares from 944.3M and Wells Fargo (NYSE:WFC) to 52.4M from 127.4M shares, according to Berkshire Hathaway’s latest 13F filing. Berkshire Hathaway has always operated on Buffett’s […]
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