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ITOCHU (OTC:ITOCF) Stock, Option Chain

ITOCHU Corp is a group of businesses that engage in importing, exporting, and trading various products. The traded goods include textiles, machinery, metals, minerals, energy, chemicals, food, general products, realty, and information and communications technology. The largest segments by net profit to the group are Food; Energy and Chemicals. The Food segment pursues efficiency-oriented operations from production and distribution to retail in all areas of food from raw materials to finished products both in Japan and overseas. The energy and chemicals segment trades crude oil and oil derivatives and chemicals.

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One of the most well-known investors of all time is seeing his recent investment activity called out by a more recent well-known investor.

Are the comments praise or an attempt to take on his legacy?

Chamath Palihapitiya Calls Out Warren Buffett&#39;s Japanese Investments: Is He Throwing Shade Or Praising The Legendary Investor?

Warren Buffett&#39;s Berkshire Hathaway Inc (NYSE: BRK) announced Monday that it has increased its stakes in Japan&#39;s top five trading 

Warren Buffett&#39;s Berkshire Hathaway Raises Stake In 5 Japanese Trading Houses

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WisdomTree Trust Japan Total Dividend Fund

Warren Buffett consistently demonstrates a knack for spotting undervalued companies and making calculated, often surprising moves.

One of his more recent ventures took an unexpected turn to the Far East, with stakes in five Japanese companies ballooning to $17 billion in less than three years.

Warren Buffett&#39;s Bets On This Country Tripled To $17 Billion: Hint, It&#39;s Not The US

ITOCHU Corp

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We knew Warren Buffett occasionally pared his stake in Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>) stock, <a href="https://investorplace.com/2024/02/warren-buffett-watch-why-he-dumped-aapl-and-what-he-bought-instead/">usually for tax purposes</a>. But no one was prepared for him to slash his stake in half.



The Oracle of Omaha revealed in his Berkshire Hathaway (NYSE:<a href="https://investorplace.com/stock-quotes/brk-a-stock-quote/">BRK-A</a>, <a href="https://investorplace.com/stock-quotes/brk-b-stock-quote/">BRK-B</a>) earnings filing that his stake in the tech giant had dropped to fewer than 400 million shares. Apple&rsquo;s value at the end of the quarter was just $84.2 billion, meaning Buffett shed just over 49% of his position. It&rsquo;s still his largest holding. But where it once accounted for half of Berkshire Hathaway&rsquo;s portfolio, it&rsquo;s now just 28% of the total.



Shares of Apple tumbled 5% on the news. While it recovered some lost ground, Apple remains 9% below its all-time high reached only a few weeks ago. But Apple wasn&rsquo;t the only stock he sold. Additionally, Buffett cut his stake again Bank of America (NYSE:<a href="https://investorplace.com/stock-quotes/bac-stock-quote/">BAC</a>), his second largest position.



He did buy more shares of Occidental Petroleum (NYSE:<a href="https://investorplace.com/stock-quotes/oxy-stock-quote/">OXY</a>), but Buffett was once again <a href="https://investorplace.com/2024/02/the-watch-list-is-warren-buffett-still-selling-these-3-stocks/">selling more stock</a> than he was buying. He now has a cash hoard worth $277 billion. He&rsquo;s either preparing for a market crash or planning on making a big purchase &ndash; a really big one.



Either way, be on the lookout for more Warren Buffett stocks to sell in Berkshire Hathaway&rsquo;s portfolio. Let&rsquo;s examine three companies that could be next.



<h2>Capital One Financial (COF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/cof1600-300x169.jpg" alt="A street view of a Capital One (COF) bank location in New York City."><div>Source: Northfoto / Shutterstock.com</div></div>Although several stocks could be on the chopping block, most are de minimis holdings that won&rsquo;t move the needle. Capital One Financial (NYSE:<a href="https://investorplace.com/stock-quotes/cof-stock-quote/">COF</a>), on the other hand, is one in which Buffett has a $1.7 billion position. Sure, that accounts for only 0.6% of the portfolio. But as Senator Everett Dirksen is supposed to have once said, <a href="https://www.forbes.com/sites/eliamdur/2021/04/02/a-billion-here-a-billion-there-pretty-soon/">a billion here, a billion there,</a> and pretty soon you&rsquo;re talking real money.



If Buffett&rsquo;s massive sale of Apple stock was in anticipation of a market crash, then it would make sense to dump Capital One Financial. It is one of the <a href="https://investorplace.com/2024/04/2-credit-card-stocks-to-buy-and-1-to-sell-april-2024/">most exposed credit card companies</a> on the market, and it is acquiring Discover Financial Services (NYSE:<a href="https://investorplace.com/stock-quotes/dfs-stock-quote/">DFS</a>). That will make it even more unprotected to a rising tide of delinquencies and defaults.



The Federal Reserve said total <a href="https://www.federalreserve.gov/releases/g19/current/">consumer credit outstanding</a> stood at over $5 trillion at the end of June. In comparison, student loans amounted to $1.7 trillion and auto loans stood at just under $1.6 trillion. The consumer is nearing their limit, and if the economy hurtles into recession, credit card companies will be left holding the bag. That makes Capital One Financial a Warren Buffett stock to sell.



<h2>Kraft Heinz (KHC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/khc-stock-300x169.jpg" alt="A photo of both the Kraft and Heinz logo"><div>Source: Eyesonmilan/Shutterstock.com</div></div>Buffett has never been hot on Kraft Heinz (NYSE:<a href="https://investorplace.com/stock-quotes/khc-stock-quote/">KHC</a>), admitting <a href="https://www.cnbc.com/2019/02/25/buffett-says-berkshire-hathaway-overpaid-for-kraft-following-last-weeks-stock-plunge.html#:~:text=%E2%80%9CI%20was%20wrong%20in%20a,%24100%20billion%20in%20tangible%20assets.">the investment was a mistake</a>. &ldquo;I was wrong in a couple of ways about Kraft Heinz,&rdquo; he told CNBC in 2019. &ldquo;We overpaid for Kraft.&rdquo;&nbsp;Though he did offer the caveat that he believes the company is &ldquo;still a wonderful business.&rdquo; 



Buffett helped private equity firm 3G Capital Management <a href="https://www.reuters.com/article/world/americas/buffett-brazil-s-3g-team-up-for-23-billion-heinz-buyout-idUSBRE91D0PY/">engineer taking control</a> of H.J. Heinz in 2013. He then maneuvered the ketchup maker to acquire Kraft Foods two years later. But he misjudged its value, paying about $100 billion for tangible assets when it used around $7 billion.&nbsp;



So, it is not the Kraft Heinz business that is the problem, just the price he paid for it. Still, it has been a money-losing bet for Buffett. Over the past decade, it has lost almost 7% in total return. Even though the Oracle of Omaha pulls in around a <a href="https://investorplace.com/2024/04/warren-buffett-collects-2-1-billion-in-dividends-every-year-from-these-3-stocks/">half-billion dollars annually</a> in dividend checks, KHC stock is the seventh biggest position in Berkshire Hathaway representing around 4% of the total. The $11.5 billion parked in Kraft Heinz could be deployed somewhere better.



<h2>Japanese Banks</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/07/shutterstock_123482470-1-300x169.jpg" alt="The yen currency symbol illustrated on a red and black background."><div>Source: Shutterstock</div></div>Buffett owns a passel of Japanese banks. I&rsquo;m not sure he would actually sell them because he is not the sort of investor to bail at the first hint of trouble. But it is notable that the Japanese banking system in part caused the market tremors last week.



Five Japanese banks shares are in Berkshire Hathaway: Itochu (OTCMKTS:<a href="https://investorplace.com/stock-quotes/itocf-stock-quote/">ITOCF</a>, <a href="https://investorplace.com/stock-quotes/itocy-stock-quote/">ITOCY</a>), Marubeni (OTCMKTS:<a href="https://investorplace.com/stock-quotes/maruf-stock-quote/">MARUF</a>),&nbsp; Mitsubishi (OTCMKTS:<a href="https://investorplace.com/stock-quotes/msbhf-stock-quote/">MSBHF</a>), Mitsui (OTCMKTS:<a href="https://investorplace.com/stock-quotes/mitsf-stock-quote/">MITSF</a>) and Sumitomo (OTCMKTS:<a href="https://investorplace.com/stock-quotes/ssumf-stock-quote/">SSUMF</a>, <a href="https://investorplace.com/stock-quotes/ssumy-stock-quote/">SSUMY</a>). Buffett highly respects their management and has said <a href="https://investorplace.com/2024/04/the-3-best-warren-buffett-stocks-to-buy-in-april-2024/">U.S. bankers could learn a thing or two</a> from their Japanese counterparts.



The problem for the Japanese banking system is the yen carry trade. That&rsquo;s when investors borrow money in a low-interest rate country like Japan and invest in currencies in high-rate countries like the U.S.



But, Japan is raising its interest rates just as the U.S. is set to lower them. Unwinding all those trades created havoc as the Japanese central bank struggled to maintain equilibrium. All five of Buffett&rsquo;s banks tumbled hard. While they did regain some losses, several are still down by double-digit percentages from where they traded a month ago.&nbsp;



Mitsui, Sumitomo and Marubeni are all down at least 13% from that time, making the Japanese banks Warren Buffett stocks to sell.



On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L&rsquo;Express, and numerous other news outlets.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/08/3-more-stocks-warren-buffett-might-sell-to-prep-for-a-market-crash/">3 More Stocks Warren Buffett Might Sell to Prep for a Market Crash</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Jefferies analyst Thanh Ha Pham maintained a Hold rating on Itochu (ITOCF – Research Report) on September 27 and set a price target of Yen7,400.00....

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