Warren Buffett, known as one of the world’s most renowned investors, always garners attention with his investment decisions. Berkshire Hathaway, the company he leads, discloses its current holdings to shareholders every quarter.
Let’s take a look at some of the changes made by Buffett, Todd Combs, and Ted Weschler during the second quarter, as per the latest 13F filing with the Securities and Exchange Commission. These holdings are reported as of June 30, 2024.
Berkshire Hathaway’s portfolio holdings: Where Buffett & Co. are buying/adding
Ulta Beauty (ULTA)
Berkshire Hathaway initiated a position in Ulta Beauty during the recent quarter, acquiring 690,000 shares of the beauty products retailer valued at approximately $266 million as of June 30.
HEICO (HEI-A)
Another new addition to Berkshire’s portfolio is HEICO, with over a million shares added in the second quarter. The industrial parts manufacturer’s stake amounted to more than $185 million by the end of June.
Chubb Limited (CB)
Berkshire increased its stake in insurance giant Chubb by 4.3% during the second quarter. The conglomerate disclosed a $6.7 billion stake in the first quarter, initially establishing the position in the third quarter of 2023.
Liberty Sirius XM Series A/C (LSXMA and LSXMK)
Berkshire continued to build its position in Liberty Sirius XM Series A and C shares, increasing its holdings by more than 7% and nearly 7%, respectively. The combined stake was valued at around $2.3 billion at the end of June.
Occidental Petroleum (OXY)
Berkshire slightly added to its Occidental Petroleum stake during the second quarter, holding over 255 million shares worth $16.1 billion at the end of June.
Sirius XM Holdings (SIRI)
Berkshire significantly increased its position in satellite radio leader Sirius XM by 262%, owning nearly 133 million shares valued at $376 million by the end of the second quarter.
Berkshire Hathaway’s portfolio holdings: Where Buffett & Co. are selling
Apple (AAPL)
Berkshire significantly reduced its stake in Apple, its largest holding, by over 49% in the second quarter. The conglomerate sold about 389 million shares, retaining 400 million shares valued at more than $84 billion as of June 30.
Capital One Financial (COF)
Berkshire also decreased its position in Capital One Financial by 21%, holding approximately 9.8 million shares valued at over $1.3 billion as of June 30.
T-Mobile US (TMUS)
The stake in T-Mobile US was trimmed by nearly 11% in the second quarter, with Berkshire holding close to 4.7 million shares worth more than $823 million.
Paramount Global (PARA)
Berkshire exited its stake in Paramount Global in the second quarter after reducing it by over 88% in the first quarter. The position was established in the first quarter of 2023.
Snowflake (SNOW)
Berkshire completely divested its stake in Snowflake, the cloud company, and AI player, during the second quarter, selling over 6.1 million shares.
Chevron (CVX)
Berkshire reduced its position in energy giant Chevron by about 3.6% in the second quarter, holding approximately 119 million shares valued at $18.6 billion at the end of June.
Louisiana-Pacific Corp. (LPX)
Berkshire reduced its stake in Louisiana-Pacific Corp. by around 10% in the second quarter, holding nearly 6 million shares valued at about $491.1 million at the end of June.
Floor & Decor Holdings (FND)
The position in Floor & Decor was cut by nearly 17% in the second quarter, with Berkshire holding just below 4 million shares valued at $395 million as of June 30.
Liberty Live Group A/C (LLYVA and LLYVK)
Berkshire also reduced its holdings in Liberty Live, both the A and C series, by 1.9% and 1.3%, respectively. The combined position was worth about $605 million at the end of June.
Top stock holdings in Buffett’s portfolio
Berkshire’s concentrated investment approach reflects its majority holdings in a few companies, with the top five positions accounting for around 73% of the portfolio’s value as of June 30, 2024:
- Apple (AAPL) – $84.2 billion
- Bank of America (BAC) – $41.1 billion
- American Express (AXP) – $35.1 billion
- Coca-Cola (KO) – $25.5 billion
- Chevron (CVX) – $18.6 billion
In the second quarter of 2024, Buffett allocated approximately $345 million to repurchase Berkshire stock, following a repurchase of $2.6 billion in the first quarter. This indicates his belief in the undervaluation of shares and the potential benefits for shareholders through buybacks.
Bottom line
Buffett and Berkshire have a successful track record in selecting investments. However, it is essential to conduct thorough research before making any investment decisions. Understanding the businesses you invest in is crucial for making informed buy, hold, or sell decisions.
Related: 8 of the best Warren Buffett quotes of all time
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.