Warren Buffett, the renowned investor, has been making waves recently as it was revealed that Berkshire Hathaway sold nearly half of its Apple stake last quarter. Despite this significant move, Apple remains the largest holding in Berkshire’s equity portfolio by a substantial margin, with a market value of $84.2 billion as of June.
While Apple continues to hold the top spot in Berkshire’s portfolio, the conglomerate has been making adjustments to its holdings elsewhere. Berkshire has started selling off Bank of America shares, its second-largest holding after Apple. This selling streak, which lasted 12 days in July, has caused the value of the Bank of America stake to decrease from $41.1 billion to approximately $37 billion.
Variations in Chevron Holdings
In addition to the changes in its Apple and Bank of America holdings, Berkshire has also made some adjustments to its Chevron stake. Although the conglomerate trimmed its Chevron bet slightly in the second quarter, the energy stake remains one of Berkshire’s top five holdings, with a market value of $18.6 billion as of June.
Steady Support for Coca-Cola and American Express
Despite the shifts in other holdings, Berkshire has maintained its investments in Coca-Cola and American Express, which were valued at $25.5 billion and $35.1 billion, respectively, at the end of the second quarter. Both of these long-term investments have performed well, with Coca-Cola up more than 17% and American Express gaining 24% so far in 2024, outperforming the S & P 500.
Overall, Warren Buffett has been in a selling mood in the second quarter, shedding over $75 billion in stock. This has boosted Berkshire’s total cash level to an impressive $277 billion. Despite the sales, the top five holdings remain unchanged from the first quarter, reflecting Buffett’s ongoing strategic investment approach.
Warren Buffett’s investment strategy continues to evolve as he makes adjustments to Berkshire Hathaway’s portfolio. While Apple remains a dominant force in the conglomerate’s holdings, changes in other major investments such as Bank of America and Chevron indicate Buffett’s willingness to adapt to market conditions. With steady support for long-term investments like Coca-Cola and American Express, Buffett’s approach blends consistency and flexibility to navigate the ever-changing landscape of the stock market.