Buffett's Berkshire Hathaway Adjusts Portfolio, with Chevron Corp Taking the Spotlight
Warren Buffett (Trades, Portfolio), the legendary investor known as "The Oracle of Omaha," has once again made headlines with the latest 13F filing for the fourth quarter of 2023. As the Chairman of the colossal Berkshire Hathaway, Buffett's investment choices are meticulously scrutinized for insights into his value investing strategy. This approach, deeply rooted in the teachings of Benjamin Graham, focuses on acquiring undervalued companies with long-term potential, managed by competent teams, and purchased at attractive prices. The recent adjustments in his portfolio reflect his unwavering commitment to this philosophy.
Key Position Increases
Buffett's Berkshire Hathaway has increased its stakes in a total of 3 stocks during the quarter. Notably:
- Chevron Corp (CVX, Financial) saw an additional 15,845,037 shares added to Berkshire's holdings, bringing the total to 126,093,326 shares. This move represents a significant 14.37% increase in share count and a 0.68% impact on the current portfolio, with a total value of $18,808,080,500.
- Occidental Petroleum Corp (OXY, Financial) also experienced a boost, with 19,586,612 additional shares acquired. This increased Berkshire's total holdings to 243,715,804 shares, marking an 8.74% increase in share count and a total value of $14,552,270,660.
Summary of Sold Out Positions
Buffett has completely exited 4 holdings in the fourth quarter of 2023, including:
- D.R. Horton Inc (DHI, Financial), where all 5,969,714 shares were sold, resulting in a -0.2% impact on the portfolio.
- Markel Group Inc (MKL, Financial), with the liquidation of all 158,715 shares, causing a -0.07% impact on the portfolio.
Key Position Reductions
Buffett's portfolio also saw reductions in 3 stocks, with significant changes in:
- HP Inc (HPQ, Financial) was reduced by 79,666,320 shares, leading to a -77.71% decrease in shares and a -0.65% impact on the portfolio. The stock traded at an average price of $28.01 during the quarter and has returned 1.81% over the past 3 months and -5.18% year-to-date.
- Apple Inc (AAPL, Financial) saw a reduction of 10,000,382 shares, equating to a -1.09% decrease in shares and a -0.55% impact on the portfolio. The stock's average trading price was $184.64 during the quarter, with a -1.68% return over the past 3 months and -4.28% year-to-date.
Portfolio Overview
As of the fourth quarter of 2023, Warren Buffett (Trades, Portfolio)'s portfolio comprised 41 stocks, with top holdings including 50.19% in Apple Inc (AAPL), 10.01% in Bank of America Corp (BAC, Financial), 8.18% in American Express Co (AXP, Financial), 6.79% in Coca-Cola Co (KO, Financial), and 5.41% in Chevron Corp (CVX, Financial). The investments are primarily concentrated across 8 industries: Technology, Financial Services, Consumer Defensive, Energy, Communication Services, Healthcare, Consumer Cyclical, and Industrials.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
