Warren Buffett’s value investing prowess made him one of the wealthiest and most successful investors of all time. If you want to invest like Buffett in 2024, you don’t have to guess too hard.
Buffett’s company Berkshire Hathaway (BRK.A, BRK.B) publicly discloses its top stock holdings quarterly. You can glimpse behind the curtain to see the stock portfolio of one of the world’s greatest investors.
Among the 47 stocks Berkshire Hathaway holds, the top 10 represent about 84% of the company’s holdings. Here’s a rundown of Buffett’s 10 largest holdings based on Berkshire Hathaway’s most recent filings, including its 13F filing from May 15, 2024.
Warren Buffett’s recent sell-off
In its earnings filing on Aug. 3, 2024, Berkshire Hathaway disclosed it sold nearly half its stake in Apple (AAPL). Before the second quarter, Berkshire’s Apple stake was worth more than $180 billion. In the latest filing, Berkshire disclosed only a $83 billion stake, as of the end of June.
The Apple sale was part of Buffett’s net $75.5 billion stock-selling spree in the second quarter. Investors will know everything Buffett was dumping in the quarter when Berkshire files its next Form 13F with the Securities and Exchange Commission. However, Berkshire previously disclosed in a separate filing that it sold about $3.8 billion worth of Bank of America (BAC) over a 12-day period through Aug. 1, 2024.
Buffett hasn’t given a specific explanation for the selling. At Berkshire’s annual meeting in May, Buffett said it might be beneficial to sell “a little Apple” stock for tax purposes. But the magnitude of the recently disclosed Apple sales suggests there may be more behind the decision than tax considerations.
Top 10 holdings in the Warren Buffett portfolio
- Apple Inc. (AAPL).
- American Express Co. (AXP).
- Bank of America Corp. (BAC).
- Coca-Cola Co. (KO).
- Chevron Corp. (CVX).
- Occidental Petroleum Corp. (OXY).
- Moody’s Corp. (MCO).
- Kraft Heinz Co. (KHC).
- Chubb Ltd. (CB).
- Mitsubishi Corp. (8058: TYO).
Apple Inc. (AAPL)
Sector
Technology
Holdings
399,772,100 shares (estimate as of latest filing)
Value
$82.9 billion
Percent of portfolio
28%
What you need to know
Apple is a leading producer of computing devices, including the iPhone, iPad, Apple Watch and Mac computers. In addition to device sales, Apple generated $85.2 billion in revenue from services in fiscal 2023. That includes sales from its App Store, iCloud and Apple Care businesses.
Apple is Berkshire’s largest public stock holding by far, even after the recent sales. Berkshire’s $83 billion Apple stake is more than double the size of its second-largest holding. Buffett first bought Apple shares in the first quarter of 2016.
American Express Co. (AXP)
Sector
Financial services
Holdings
151,610,700 shares
Value
$35 billion
Percent of portfolio
11.8%
What you need to know
American Express is a financial services company and leading credit card issuer. It also offers travel-related services. Its payment network facilitates payment transactions between merchants and card issuers.
American Express is one of Buffett’s longest-standing investments. He began buying the stock in 1991, and it has been a home-run investment for Berkshire. American Express is one of Berkshire’s largest stock holdings. Buffett’s stake represents roughly 21% ownership of the company.
Bank of America Corp. (BAC)
Sector
Financial services
Holdings
942,429,882 shares
Value
$35.0 billion
Percent of portfolio
11.8%
What you need to know
Bank of America is one of the largest U.S. banks and financial holdings companies. It offers commercial and consumer banking, investment banking, and wealth management services. The company has roughly $1.7 trillion in assets under management.
Buffett’s history with the bank goes back to 2011 when Berkshire invested $5 billion to provide liquidity following the 2008 financial crisis. In 2017, Buffett exercised the warrants he had acquired in the 2011 deal. This allowed him to purchase 700 million shares of BAC at a price of just $7.14 each.
Buffett’s love affair with bank stocks appears to have soured in recent years. His recent Bank of America sales come after Berkshire exited large stakes in JPMorgan (JPM) and Wells Fargo (WFC).
Coca-Cola Co. (KO)
Sector
Consumer defensive
Holdings
400,000,000 shares
Value
$27.5 billion
Percent of portfolio
9.3%
What you need to know
Coca-Cola is the world’s leading nonalcoholic beverage company. In addition to Coke, Coca-Cola’s soft drink brands include Sprite and Fanta. The company also owns popular nonsoda beverage brands Dasani, vitaminwater, Powerade and Minute Maid.
Buffett’s Coca-Cola investing history goes back to 1988, making it Berkshire’s oldest current stock holding. By 1994, Berkshire held 100 million shares of KO stock, and Buffett hadn’t sold a single share. A few decades and four stock splits later, Berkshire’s stake stands at 400 million shares worth over $25 billion.
Chevron Corp. (CVX)
Sector
Energy
Holdings
122,980,207 shares
Value
$17.7 billion
Percent of portfolio
6%
What you need to know
Chevron is one of the world’s largest publicly traded oil and gas majors. It produced a record 3.1 million barrels of oil equivalent per day in 2023.
Chevron is a high-yielding dividend stock that pays long-term investors like Buffett 4.2% annually for their loyalty. The company has raised its dividend payout for 36 consecutive years.
Buffett bought the dip in Chevron shares in 2020. At the time, COVID-19 pandemic lockdowns sent crude oil prices plummeting to historic lows. Energy prices have since rebounded thanks in part to Russia’s invasion of Ukraine and the Israel-Hamas conflict in the Middle East. Buffett sold Chevron shares in the first quarter of 2024, reducing his holdings by 2.5%.
Occidental Petroleum Corp. (OXY)
Sector
Energy
Holdings
255,281,524 shares
Value
$14.3 billion
Percent of portfolio
4.9%
What you need to know
Occidental Petroleum is one of the largest U.S. oil and gas exploration and production companies. It also has a large chemical business.
Buffett first invested in Occidental in 2019 when Berkshire provided financing for the $35.7 billion acquisition of Anadarko Petroleum. As part of the deal, Berkshire acquired $10 billion in Occidental preferred stock that paid roughly $800 million in annual dividends. Berkshire also acquired warrants to purchase 83.9 million additional shares of stock.
In the past couple of years, Buffett has aggressively purchased more shares of Occidental. In 2022, the Federal Energy Regulatory Commission approved Berkshire to acquire up to a 50% ownership stake in Occidental. As a result, Buffett’s investment will likely grow.
Kraft Heinz Co. (KHC)
Sector
Consumer defensive
Holdings
325,634,818 shares
Value
$11.4 billion
Percent of portfolio
3.9%
What you need to know
Kraft Heinz is one of the largest consumer packaged goods companies. It specializes in condiments, sauces, meals, meats, beverages and other grocery products. The company’s leading brands include Oscar Mayer, Philadelphia and Velveeta.
In 2013, Berkshire partnered with 3G Capital to complete a $23 billion buyout of Heinz. Over the next two years, Berkshire and 3G merged Kraft with Heinz to form one of the world’s largest food companies.
Kraft Heinz shares have performed poorly in recent years. Buffett admitted in 2019 that he likely overpaid for his stake in the company. But he hasn’t sold his shares.
Moody’s Corp. (MCO)
Sector
Financial services
Holdings
24,669,778 shares
Value
$11.1 billion
Percent of portfolio
3.8%
What you need to know
Moody’s provides credit ratings, financial data, analytics and research. It’s considered one of the “big three” corporate credit rating agencies, along with S&P Global and Fitch.
Buffett’s Moody’s investment dates back to 2000. Berkshire acquired Moody’s shares when the company spun off from its former parent Dun & Bradstreet. Buffett’s cost basis for his Moody’s shares is only about $10. The stock now trades at roughly $440. This makes it one of Buffett’s best investments of the past two-plus decades. Buffett cut his stake in Moody’s from 48 million shares to under 25 million shares by 2013. But he has maintained his remaining 13.5% ownership stake in the company.
Chubb Ltd. (CB)
Sector
Financial services
Holdings
25,923,840 shares
Value
$6.9 billion
Percent of portfolio
2.3%
What you need to know
Chubb is a worldwide insurance company. It provides several insurance types, including commercial and personal property and casualty. Chubb operates in 54 countries and serves businesses, individuals and families. The company has about 40,000 employees, with offices in New York, Zurich, Paris and London.
A May 2024 Securities and Exchange Commission filing revealed Berkshire made a new $6.72 billion investment in Chubb. Analysts suggest the investment makes sense for Berkshire, which is well-versed in property-casualty insurance. Large insurance companies like Geico are already wholly owned subsidiaries of Berkshire Hathaway. Berkshire began buying Chubb in 2023 but asked the SEC to keep the purchase confidential in previous filings.
Mitsubishi Corp. (8058: TYO)
Sector
Industrials
Holdings
358,492,800 shares
Value
$6.6 billion
Percent of portfolio
2.2%
What you need to know
Mitsubishi is Japan’s largest trading company and owns roughly 1,800 companies worldwide. The conglomerate’s businesses span virtually every industry. These include natural gas, industrial materials, chemicals, mineral resources, industrial infrastructure, food, automotive and mobility.
Buffett threw his investors a curveball in August 2020. Berkshire announced it had acquired a roughly 5% ownership stake in Mitsubishi and four other Japanese trading companies. In June 2023, Buffett announced he had raised Berkshire’s stake in the five companies to more than 8.5%. He also indicated he could increase it to 9.9% over time.
Mitsubishi has been a spectacular investment for Buffett so far. Since the initial purchase announcement in August 2020, Mitsubishi has delivered triple-digit gains.
Stocks recently added to Warren Buffett's portfolio
Berkshire has been less active in recent quarters, showing restraint in its purchases. The insurance company Chubb was the only stock Buffett added to his portfolio in the first quarter of 2024. This stock was previously a mystery purchase. We now know Buffett owns a multibillion-dollar stake in the company.
Stocks Warren Buffett recently sold
Berkshire completely exited its position in HP Inc (HPQ) in the first quarter of 2024. Buffett also sold roughly half of Berkshire’s stake in Apple in the second quarter. Berkshire recently sold $12.6 billion worth of Bank of America over a 12-day period through Aug. 1.
Historically, Buffett has often exited large positions by selling Berkshire’s entire stake slowly over multiple quarters. But he has been known to change his mind and reverse course occasionally. So a stake reduction does not guarantee Buffett is exiting a position entirely.
Berkshire Hathaway earnings report
Berkshire Hathaway released its second-quarter earnings report on Aug. 3. The company reported $11.6 billion in operating earnings in the quarter, up about 15% year over year.
Operating earnings include profits from Geico and Berkshire’s other wholly-owned, private subsidiaries.
Berkshire also reported a record $276.9 billion in cash on its balance sheet after it sold about half its Apple holdings.
The company’s previous record for cash holdings was just $188.9 billion in the first quarter. In the second quarter, Berkshire reportedly sold more than $75 billion worth of stock holdings. The company has been a net seller of stocks for seven consecutive quarters.
Frequently asked questions (FAQs)
Berkshire Hathaway’s investment portfolio is actively managed. This means the company regularly adjusts its holdings as opportunities arise in the market. But investors see which stocks Buffett has been buying and selling only once per quarter. This happens when Berkshire publicly files Form 13F with the SEC.
From 1965 to 2023, Berkshire Hathaway generated a compound annual return of 19.8%, nearly doubling the 10.2% compound annual return of the . Buffett has earned the nickname the Oracle of Omaha for his uncanny ability to pick stock winners.
Yes, Buffett targets companies with a durable competitive advantage, such as a strong brand or a large, loyal customer base. He also takes a long-term approach to value investing. Buffett identifies attractively valued companies based on their earnings and growth outlooks. He also accumulates large positions and holds them for years or decades, unless the company’s business fundamentals change.
Even after selling about half of Berkshire’s stake in Apple in the second quarter, Apple is still Berkshire’s largest stock holding. In fact, Berkshire’s Apple stake is more than twice the size of its second-largest stock investment.