I think we're both in alignment now. That's really all I was trying to say. We probably won't know the real answer until the next 13F. I find the timing of Charles Munger's comments would be consistent with an answer that their GM investment was sold off. So it just adds to the mystery in my mind.
Once again it is clear that you have no clue what I am talking about. KHC is not part of the list of 15. By that logic, GM is 15th.
"Below we list our fifteen common stock investments that at yearend had the largest market value. We exclude our Kraft Heinz holding because we are part of a control group and account for it on the “equity” method."
Are you going to read the letter, or will you just continue with your clueless comments?
The latest 4Q15 13F filing by Berkshire clearly shows GM as one of the top 15 holdings (excluding Kraft Heinz) by market value as of yearend. 14 of 15 of those holdings are in the list in the annual letter. GM has been replaced by Sanofi, which was way down in market value as of the 13F filing.
I only have two possible explanations for the list in the letter: the list is wrong according to the chart headings, holdings and market values; or the GM position has been liquidated and by current value Sanofi was put in its place.
The title of the list again is "Below we list our fifteen common stock investments that at yearend had the largest market value. We
exclude our Kraft Heinz holding because we are part of a control group and account for it on the “equity” method."
Berkshires held 50 million GM shares worth $34.01 as of 12/31/2015. Just over $1.7 Billion.
If you examine my original post carefully, you will see that I used a question mark. And, I was simply guessing what may have happened. No apology offered or required.
It's clear that I read the letter and the filing. I'm not sure why you feel the need to respond to my post as if I was claiming to know the status of Berkshire's GM investment.
Did you even read the letter?
"Below we list our fifteen common stock investments that at yearend had the largest market value."
Four of the fifteen listed stocks have market values less than $1.7 Billion. Unless the omission of GM is an error, I surmise the position was liquidated.
Charles Munger made some comments on GM February 10th that indicated he was not too positive on the outlook for GM. According to the way I am interpreting that chart, if Berkshire was still holding even one share of GM common, then GM should be in the list of fifteen.
According to GM's year end value for 50 million shares, GM should be listed as one of Berkshire top fifteen common stock holdings in the annual letter. Since it is not listed, my guess is the they reduced or eliminated their GM holdings.