Warren Buffett, known as the Oracle of Omaha, revealed Berkshire Hathaway’s equity portfolio at the end of the third quarter, showcasing significant shifts in his top holdings. The conglomerate’s 70% concentrated portfolio was comprised of five major stocks: Apple, Bank of America, Coca-Cola, American Express, and Chevron.
Buffett reduced his Apple stake for the fourth consecutive quarter, selling about a quarter of his investment, worth $69.9 billion at the end of September. His decision to sell is attributed to various factors, including likely higher capital gains taxes and valuation concerns.
Additionally, Berkshire sold over $10 billion worth of Bank of America shares since mid-July, bringing the bank’s stake to just under 10%. This sale led to a change in the conglomerate’s top holdings, with American Express overtaking Bank of America as its second-largest investment.
Berkshire’s Chevron holding remained steady, valued at $17.5 billion at the end of September. The energy stock has seen a limited 2.6% gain this year, lagging the broader market. Coca-Cola’s value increased by 10.3% in 2024, surpassing the S&P 500’s 20.1% return.
Source: https://www.cnbc.com/2024/11/02/warren-buffett-is-selling-down-his-stocks-here-are-his-top-5-holdings.html