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More than three-fourths of the equity portfolio for Warren Buffett’s Berkshire Hathaway was spread among just five stocks. Approximately 77% of the conglomerate’s stock exposure is in the following five names. The same five stocks comprised the list of biggest holding at the end of 2022, though the pecking order changed. Apple ‘s total value surged as the stock charted a comeback this year. The stock added nearly 27% in the first calendar quarter, regaining ground after dropping around 27% last year. The Big Tech name’s rebound came as investors returned to growth stocks on hopes of a tide-change in interest rate policy. Apple on Thursday beat Wall Street earnings and revenue expectations for its second fiscal quarter , helped by better-than-expected iPhone sales. Apple’s total value in the portfolio came out to $151 billion at the end of the quarter, up from $119 billion at the end of 2022. By comparison, its value in the portfolio was $161.2 billion at the end of 2021. Berkshire was a net seller of equities in the first quarter, selling $13.2 billion worth of stocks and buying only $2.8 billion, according to its earnings report. While Chevron was still one of Berkshire’s top five holdings, the conglomerate did trim the energy stock for a second straight quarter. Chevron fell from being Berkshire’s third-largest holding at the end of 2022 to its fifth at the end of the first quarter. Long-time holdings Coca-Cola , American Express and Bank of America remained among the biggest names in the equity portfolio. American Express has outperformed the S & P 500 financials sector this year, while Bank of America has underperformed as investors narrowed focus on bank stocks amid the industry crisis prompted by the closure of Silicon Valley Bank in March. Though not a top-five holding, Berkshire acquired stock of Occidental Petroleum in 2022, with aggregate voting interest exceeding 20% in summer of that year. Berkshire has an aggregate liquidation value of around $9.5 billion in the stock as of March 31. — CNBC’s Yun Li contributed to this report.
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ReportWire
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