Warren Buffett is arguably the world’s most famous investor, and his investment moves are closely followed. Each quarter, the company he runs, Berkshire Hathaway, discloses its current holdings to shareholders.
Here are some of the changes Buffett and his two investment officers, Todd Combs and Ted Weschler, made during the third quarter, according to the latest 13F regulatory filing with the Securities and Exchange Commission (SEC). The holdings are reported as of Sept. 30, 2024.
Berkshire Hathaway’s portfolio holdings: Where Buffett & Co. are buying/adding
Dominos Pizza (DPZ)
Berkshire established a new position in Dominos Pizza during the third quarter, purchasing roughly 1.28 million shares. The stake was worth nearly $550 million at the end of the third quarter.
Pool Corp. (POOL)
Pool Corp. was another new position for Berkshire during the third quarter, with the company buying more than 400,000 shares worth about $152 million at the end of September. Pool Corp. is a distributor of swimming pool supplies, equipment and other outdoor products.
HEICO (HEI-A)
Berkshire added slightly to its stake in Heico during the third quarter, boosting the position by 0.52 percent and bringing it to nearly $214 million at the end of September. Berkshire’s stake in the aftermarket aircraft parts maker was initiated during the second quarter.
Berkshire Hathaway’s portfolio holdings: Where Buffett & Co. are selling
Apple (AAPL)
Buffett continued selling Apple during the third quarter, trimming Berkshire’s position by another 25 percent. Berkshire now holds 300 million shares in the iPhone maker worth $69.9 billion at the end of September. Buffett told shareholders at the Berkshire annual meeting in May that he expected Apple to be a top holding for years, but he was not afraid to trim as the stock ran up on optimism about AI and new product launches.
Bank of America (BAC)
Buffett has also been selling Bank of America, one of Berkshire’s largest stock positions. The firm reduced its stake in the bank by about 23 percent during the third quarter, resulting in a value of $31.7 billion at the end of September.
SiriusXM Holdings (SIRI)
Berkshire cut its stake in satellite radio leader SiriusXM Holdings by about 21 percent during the third quarter. Berkshire had added significantly to the position during the second quarter, boosting its stake by about 262 percent. The stake was worth about $2.5 billion at the end of September.
Capital One Financial (COF)
Berkshire also reduced its position in Capital One Financial, cutting it by just over 7 percent, to about 9.1 million shares. The stake was valued at nearly $1.4 billion as of Sept. 30.
Nu Holdings (NU)
Berkshire also sold shares of Brazilian digital bank Nu Holdings during the third quarter, with the firm trimming its stake by a little more than 19 percent. The position was established in the fourth quarter of 2021 and was worth about $1.2 billion at the end of September.
Charter Communications (CHTR)
Berkshire reduced its position in cable company Charter Communications during the third quarter, cutting its holdings by about 26 percent. The position was valued at about $914.5 million as of Sept. 30.
Ulta Beauty (ULTA)
Ulta Beauty had just been added to the portfolio in the second quarter, but Berkshire drastically cut its stake in the beauty products maker by more than 96 percent in the third quarter. The position was the smallest in the portfolio at the end of September and stood at just $9.4 million.
Liberty Sirius XM Series A/C (LSXMA and LSXMK)
Berkshire eliminated its position in Liberty Sirius XM Series A and C shares during the third quarter. It had increased its position in the A and C shares earlier in the year. The combined stake had been worth about $2.3 billion at the end of June.
Floor & Decor Holdings (FND)
Floor & Decor also found itself on the Berkshire chopping block, with the company eliminating its stake entirely. The position in the specialty retailer had been worth $395 million as of June 30.
Top stock holdings in Buffett’s portfolio
Berkshire takes a concentrated approach with its investments, typically holding the majority of its portfolio in just a few companies. Its largest holdings at the end of the third quarter accounted for about 70 percent of the portfolio’s value, and included these top five positions (valuations as of Sept. 30, 2024):
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Apple (AAPL) – $69.9 billion
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American Express (AXP) – $41.1 billion
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Bank of America (BAC) – $31.7 billion
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Coca-Cola (KO) – $28.7 billion
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Chevron (CVX) – $17.5 billion
Buffett didn’t repurchase any Berkshire stock during the third quarter of 2024, making it the first quarter without repurchases since the second quarter of 2018. Buffett likes stock buybacks because they can create value for continuing shareholders, but he only implements them when the company has excess cash and the shares are selling below a conservative estimate of the company’s intrinsic value. The company bought back about $2.9 billion in stock during the first two quarters of 2024.
Bottom line
Buffett and Berkshire have an excellent track record in selecting investments, but be sure to research any investments thoroughly before investing yourself. Even stocks owned by legendary investors decline and you’ll need to understand the businesses you’re invested in well enough to make a buy, hold or sell decision on your own.
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.