Warren Buffett is arguably the world’s most famous investor, and his investment moves are closely followed. Each quarter, the company he runs, Berkshire Hathaway, discloses its current holdings to shareholders.
Here are some of the changes Buffett and his two investment officers, Todd Combs and Ted Weschler, made during the first quarter, according to the latest 13F regulatory filing with the Securities and Exchange Commission. The holdings are reported as of March 31, 2024.
Berkshire mystery stock revealed
Berkshire disclosed a new $6.7 billion position in insurer Chubb, a holding it began buying in the third quarter of 2023 and received SEC permission to keep the position confidential in its filings for the third and fourth quarters of 2023. Analysts had expected the confidential holding was in the financial sector because Berkshire has reported an increased cost basis for those stocks in recent quarterly reports.
Berkshire Hathaway’s portfolio holdings: Where Buffett & Co. are buying/adding
Chubb Limited (CB)
Berkshire revealed a new $6.7 billion stake in insurance giant Chubb during the first quarter, but actually first established the position in the third quarter of 2023. Berkshire had received confidential treatment from the SEC for the position so it didn’t have to disclose it when it was still accumulating the stake.
Liberty Sirius XM Series A/C (LSXMA and LSXMK)
Berkshire added significantly to its position in Liberty Sirius XM Series A and C shares during the first quarter. It boosted its position in the A shares by more than 62 percent and the C shares by more than 51 percent. The combined stake was worth about $2.9 billion at the end of March.
Occidental Petroleum (OXY)
Berkshire also added slightly to its stake in Occidental Petroleum during the first quarter. Berkshire boosted its position by just under 2 percent and held more than 248 million shares worth $16.1 billion at the end of March.
Berkshire Hathaway’s portfolio holdings: Where Buffett & Co. are selling
Apple (AAPL)
Buffett and company reduced their stake in Apple, Berkshire’s largest holding, by about 13 percent during the first quarter. Berkshire sold about 116 million shares and now holds roughly 789.4 million shares worth more than $135 billion at the end of March. Buffett told shareholders at the Berkshire annual meeting that he expected Apple to be a top holding for years.
HP (HPQ)
Berkshire completely exited its stake in computer and peripheral maker HP during the first quarter, selling more than 22 million shares. Berkshire had been reducing the position in recent quarters.
Paramount Global (PARA)
Berkshire slashed its stake in Paramount Global during the first quarter by more than 88 percent. The position was established during the first quarter of 2022 and Buffett recently told shareholders that he’d sold the entire position and took responsibility for the mistake, saying Berkshire had lost a lot of money on it.
Chevron (CVX)
Buffett and company also reduced Berkshire’s existing position in energy giant Chevron, one of Berkshire’s largest holdings, by about 2.5 percent. Berkshire now holds about 123 million shares worth $19.4 billion at the end of the first quarter.
Sirius XM Holdings (SIRI)
Berkshire trimmed its stake in satellite radio provider Sirius XM Holdings by about 9 percent during the first quarter. Berkshire now holds about 36.7 million shares worth about $142.3 million at the end of March.
Louisiana-Pacific Corp. (LPX)
Berkshire reduced its stake in Louisiana-Pacific Corp. by about 6 percent during the first quarter. It held 6.6 million shares worth about $553.6 million at the end of March. The position was first established in the third quarter of 2022.
Top stock holdings in Buffett’s portfolio
Berkshire takes a concentrated approach with its investments, typically holding the majority of its portfolio in just a few companies. Its largest holdings at the end of the first quarter accounted for about 75 percent of the portfolio’s value, and included these top five positions (valuations as of March 31, 2024):
- Apple (AAPL) – $135.4 billion
- Bank of America (BAC) – $39.2 billion
- American Express (AXP) – $34.5 billion
- Coca-Cola – $24.5 billion
- Chevron (CVX) – $19.4 billion
Buffett spent about $2.6 billion repurchasing Berkshire stock in the first quarter of 2024. This is an indication that he believes the shares are undervalued and continuing shareholders will benefit from the buybacks.
Bottom line
Buffett and Berkshire have an excellent track record in selecting investments, but be sure to research any investments thoroughly before investing yourself. Even stocks owned by legendary investors decline and you’ll need to understand the businesses you’re invested in well enough to make a buy, hold or sell decision on your own.
Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.
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