, Warren Buffett's "Mystery Stock"? | Hedge Fund Alpha
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Warren Buffett’s “Mystery Stock”?

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Dr. David Kass
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Note on Warren Buffett’s “Mystery Stock” (13F confidential treatment in 2023 Q3 and Q4):

Berkshire would be required to report its holding if it exceeds a 5% stake in a company. If, for example, that company is JPMorgan Chase ($JPM) (my guess) with a capitalization of $520 billion, 5% equals $26 billion.  An investment of this size would “move the needle” and qualify as an “elephant” that Warren Buffett has been seeking. Berkshire held $157 billion in cash and cash equivalents on September 30, 2023.

Article by Dr. David Kass

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David I Kass Clinical Associate Professor, Department of Finance Ph.D., Harvard University Robert H. Smith School of Business 4412 Van Munching Hall University of Maryland College Park, MD 20742-1815 Phone: 301-405-9683 Email: [email protected] (link sends e-mail) Dr. David Kass has published articles in corporate finance, industrial organization, and health economics. He currently teaches Advanced Financial Management and Business Finance, and is the Faculty Champion for the Accelerated Finance Fellows. Prior to joining the faculty of the Smith School in 2004, he held senior positions with the Federal Government (Federal Trade Commission, General Accounting Office, Department of Defense, and the Bureau of Economic Analysis). Dr. Kass has recently appeared on Bloomberg TV, CNBC, PBS Nightly Business Report, Maryland Public Television, Business News Network TV (Canada), Fox TV, American Public Media's Marketplace Radio, and WYPR Radio (Baltimore), and has been quoted on numerous occasions by Bloomberg News and The Wall Street Journal, where he has primarily discussed Warren Buffett and Berkshire Hathaway. He has also launched a Smith School “Warren Buffett” blog. Dr. Kass has accompanied MBA students on trips to Omaha for private meetings with Warren Buffett, and Finance Fellows to Berkshire Hathaway’s annual meetings. He is an officer of the Harvard Business School Club of Washington, DC, and is a member of the investment and budget committees of a local nonprofit organization. Dr. Kass received a Smith School “Top 15% Teaching Award” for the 2009-2010 academic year.