Starter Stock Portfolio: 10 Safe Stocks To Invest In Now

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

Number of Hedge Fund Holders: 120 

Berkshire Hathaway Inc. (NYSE:BRK-B) is a multinational conglomerate company with businesses in multiple industries including financial services, insurance, energy, transportation, rail, and utility. The company not only provides services across several insurance lines, but also engages in the generation and distribution of electricity from natural gas, coal, wind, solar, and nuclear sources. Berkshire Hathaway also retails household appliances, electronics, kitchenware, and motorcycle equipment.

The company boasts a reliable source of income from its stable operating businesses. In the second quarter of 2024, Berkshire Hathaway Inc. (NYSE:BRK-B) logged $93 billion in revenue, of which $26 billion came from insurance. In the first half of 2024, the company’s investment income increased by 36% year-over-year. GEICO, Berkshire’s auto-insurance subsidiary provides coverage for 28 million vehicles, up from 17 million in 2019.

Berkshire Hathaway Inc. (NYSE:BRK-B) holds a strong position in the world, especially in the United States. It has ownership rights and control over multiple major companies across the globe. According to the company’s latest shareholder letter, it currently owns 6% of the entire universe in which it operates. Additionally, as of 2023, the company owned 27.8% of common shares in Occidental Petroleum with the option to increase ownership at a fixed price.

Insurance underwriting and insurance investment income were the two dominant segments of the company in FY 2023. The two segments reported $5.4 billion and $9.6 billion in operating earnings, respectively. Its railroad segment was the third largest segment, with operating earnings worth $5 billion. Its railroad subsidiary operates a 24,000-mile track, 99 tunnels, 13,500 bridges, and 7,500 locomotives.

Berkshire Hathaway Inc.’s (NYSE:BRK-B) competitive edge lies in its presence in multiple industries diversifying its risk and making it one of the safest stocks to invest in. According to our database, 120 hedge funds held stakes in Berkshire Hathaway Inc. (NYSE:BRK-B) in the second quarter, with positions worth $12.54 billion. With stakes amounting to $10.02 billion, Bill & Melinda Gates Foundation Trust is the largest shareholder of the company, as of June 30.