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Buffett's latest portfolio additions, trims and cuts in Q3

MarketBeat - Thu Nov 16, 2023

illustration of warren buffett with stock chart in background

Warren Buffett is widely regarded as the most well-known, famous, and successful investor of all time. As such, his investment decisions and changes to his holdings are closely monitored and highly anticipated by the investing community. 

His company, financial heavyweightBerkshire Hathaway (NYSE: BRK.B), discloses its current holdings to its shareholders each quarter in a 13F regulatory filing with the Securities and Exchange Commission (SEC). 

So, let's take a closer look at the latest changes now that the 13F has been filed with the SEC, Buffett and his company, Berkshire, made in the third quarter across several sectors, including technology, energy, and the financial sector.

Latest additions for Buffett and Berkshire

Sirius XM Holdings (NASDAQ: SIRI)

Buffett's Berkshire Hathaway acquired a fresh stake of 9.68 million shares in Sirius XM Holdings, the renowned satellite radio provider. This strategic move amounted to approximately $43.8 million in value by the close of the third quarter. SIRI is not a favorite amongst analysts and is currently on the Lowest-Rated Stocks list. The stock has a P/E of 16.28 and dividend yield of 2.11%

Atlanta Braves Holdings (NASDAQ: BATRK)

Berkshire Hathaway also secured a newfound position in Atlanta Braves Holdings, a recently spun-off entity from Liberty Media. This company holds ownership over the esteemed baseball team and associated real estate. Berkshire's investment accounted for almost 224,000 shares, valued at approximately $8 million.

Liberty Live Group (NASDAQ: LLYVK)

Buffett's company started a new position in Liberty Live Group, which holds an interest in the Live Nation entertainment company and other minority investments. Berkshire purchased both the Series A and Series C common stock, and the combined position was worth $518.6 million.

Positions trimmed and closed

During the third quarter, Buffett and his company closed out their relatively small positions in several household and consumer names, including Johnson & Johnson, Procter & Gamble,United Parcel Service, and Mondelez International.

Perhaps unsurprisingly, Berkshire closed its position in General Motors after cutting it by 45% in the second quarter. 

Here's a closer look at some positions that Berkshire trimmed:

HP (NYSE: HPQ)

During the third quarter, Berkshire trimmed its investment in the computer manufacturer HP by 15.2 percent. Presently, the company holds approximately 102.5 million shares, valued at over $2.6 billion.

Chevron (NYSE: CVX)

Berkshire diminished its holdings in Chevron, decreasing its stake by approximately 10.5 percent to around 110.2 million shares by the end of September. Chevron stands out among Berkshire's five significant holdings, offering a dividend yield of 4.15% and a P/E of 10.81. Unsurprisingly, CVX is one of the Top-RatedDividend stocks around. 

Amazon (NASDAQ: AMZN)

Berkshire also scaled back its position in the online retail giant Amazon, reducing it by 5.2 percent to 10 million shares. As of the quarter's conclusion, this adjusted position was valued at nearly $1.3 billion.

Aon (NYSE: AON)

In the third quarter, Berkshire adjusted its investment in Aon, a professional services firm, reducing its stake by 5.4 percent. Nevertheless, Buffett and his team still maintain ownership of a stake valued at over $1.3 billion as of the quarter's conclusion.

Berkshire also reduced its holdings in Markel, Globe Life, and Celanese Corp. As of the end of the third quarter, Apple remained Berkshire's top holding by a long shot, with its stake in the giant valued at $156.8 billion. Bank of America is Berkshire's second top holding at $28.3 billion, and American Express is third at $22.6 billion. 

The article "Buffett's latest portfolio additions, trims and cuts in Q3" first appeared on MarketBeat.

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