What has Warren Buffet been hiding? Berkshire Hathaway’s CEO has revealed that the investment that he’s been keeping from the public is a major stake in the company Chubb, an ins. business operating in 54 countries.

Berkshire Hathaway has accumulated about 26 m shares of the company for approximately USD 6.7 bn, CNN reports. This information was revealed after a year of being kept confidential as it was growing the stake.

As expected, lots of investors followed this move. The Oracle of Omaha is synonymous with investment success so it comes as no surprise that other investors frequently mimic his choices. The Chubb acquisition was no exception, seeing as the company’s stock rose by over 8% in Wednesday’s after-hours trading. Chubb made the rounds in business news in March after it underwrote Donald Trump’s 92 mn appeal bond in Jean Carrol’s defamation case.

Berkshire Hathaway’s investment strategy is solid. This acquisition is familiar ground for the company, considering that it already has three investment company subsidiaries. It seems to also be leaning away from consumer products, like Apple and HP (for both of which it significantly sold shares), and more towards financial companies like American Express and Bank of America.

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