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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 fourth quarter, according to the latest 13F regulatory filing with the Securities and Exchange Commission. The holdings are reported as of December 31, 2023.
Berkshire Hathaway’s portfolio holdings: Where Buffett & Co. are buying/adding
Sirius XM Holdings (SIRI)
Berkshire significantly boosted its stake in satellite radio provider Sirius XM Holdings during the fourth quarter. Berkshire now holds more than 40 million shares worth about $220.1 million at the end of 2023. Berkshire held just under 10 million shares at the end of September 2023.
Buffett and company also added to its existing position in energy giant Chevron, one of Berkshire’s largest holdings. Berkshire now holds more than 126 million shares worth $18.8 billion at the end of 2023.
Occidental Petroleum (OXY)
Berkshire also added to its stake in Occidental Petroleum during the fourth quarter and has continued adding to it in early 2024, according to recent filings. Berkshire held 243.7 million shares at the end of 2023, but boosted its position to more than 248 million shares in early February. The holdings are currently worth about $14.2 billion.
Berkshire Hathaway’s portfolio holdings: Where Buffett & Co. are selling
Buffett and company reduced their stake in Apple, Berkshire’s largest holding, by just over one percent during the fourth quarter. Berkshire sold about 10 million shares and now holds roughly 905.6 million shares worth more than $174 billion at the end of 2023.
Berkshire continued reducing its stake in computer and peripheral maker HP during the fourth quarter, selling nearly 80 million shares and cutting its position by more than 75 percent. Berkshire now owns about 22.9 million shares worth $687.6 million at the end of 2023.
Paramount Global (PARA)
Berkshire cut its stake in Paramount Global by nearly one-third during the fourth quarter. Berkshire’s 63.3 million shares were worth $936.5 million at the end of 2023. The position was established during the first quarter of 2022.
D.R. Horton (DHI)
The fourth quarter saw Berkshire sell out of its position in homebuilder D.R. Horton, selling the nearly 6 million shares it held. The position had been purchased in the second quarter of 2023.
Markel (MKL) and Globe Life (GL)
Berkshire exited two insurance holdings during the fourth quarter, selling Markel and Globe Life, which it had also reduced during the third quarter of 2023.
StoneCo Ltd. (STNE)
Berkshire also exited its position in financial technology company Stone. Buffett and company sold their remaining 10.7 million shares during the fourth quarter. The position had been held since the fourth quarter of 2018.
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 third quarter accounted for about 78 percent of the portfolio’s value, and included these top five positions (valuations as of September 30, 2023):
- Apple (AAPL) – $156.8 billion
- Bank of America (BAC) – $28.3 billion
- American Express (AXP) – $22.6 billion
- Coca-Cola – $22.4 billion
- Chevron (CVX) – $18.6 billion
Buffett spent about $7.0 billion repurchasing Berkshire stock in the first nine months of 2023. This is an indication that he believes the shares are undervalued and continuing shareholders will benefit from the buybacks.
Berkshire’s fourth quarter earnings will likely be released at the end of February along with Buffett’s annual letter to shareholders.
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.