Warren Buffett’s Berkshire Hathaway Inc. has cut its stake in HP Inc. by about half, and Carl Icahn has reduced his position in FirstEnergy Corp. and relinquished a board seat, according to regulatory filings Monday.
According to a filing with the Securities and Exchange Commission, Berkshire
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has cut its stake in HP
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to 5.2%, down from about 10%, or 97.9 million shares, as of Oct. 3, after the conglomerate sold HP shares for nine straight trading sessions.
The filing showed Berkshire still owns about 51.5 million shares of HP, worth about $1.56 billion, based on Monday’s closing price of $30.37. After the most recent sale, Berkshire dropped from HP’s second-largest shareholder to its third-largest, behind Vanguard Group and BlackRock Fund Advisors, according to FactSet data.
Meanwhile, an SEC filing showed Andrew Teno, an executive at Icahn Group, resigned from the board of FirstEnergy
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effective Dec. 8. That board seat was contingent on Icahn holding at least a 1.5% stake in the company, the filing said, and he was required to resign once the stake fell below that threshold.
Icahn took a stake in FirstEnergy in February 2021, and held a 2.5% stake as of Sept. 30, according to FactSet data.
