Warren Buffett, the legendary investor and chairman of Berkshire Hathaway, regularly attracts attention with his investment decisions. Every quarter, Berkshire Hathaway, of which Buffett is the mastermind, publishes an update on its investments. Recently, the second quarter 2024 report was published, and as usual, it brought some interesting changes to the giant's portfolio.

New investments and expansion of existing positions

Ulta Beauty $ULTA+0.1%
Berkshire Hathaway made its first investment in Ulta Beauty, a beauty products company, last quarter. While this investment so far amounts to only 690,000 shares, the value of the shares reached approximately $266 million at the end of June.

HEICO $HEI-A+2.0%
Another new addition to Berkshire's portfolio is HEICO, a manufacturer of industrial components. The company added more than a million shares of this company, which equates to an investment of over $185 million.

Chubb Limited $CB+0.5%
Berkshire increased its stake in insurance company Chubb by 4.3%. This investment was originally announced in the first quarter and was $6.7 billion, but was pledged in the third quarter of 2023. This position was temporarily classified.

Liberty Sirius XM $LSXMA-1.2%
Buffett's firm continued to increase its holdings in Liberty Sirius XM Series A and C shares. The position was increased by more than 7% in both types of stock, with a combined value of approximately $2.3 billion.

Occidental Petroleum $OXY+0.5%
Berkshire increased its stake in Occidental Petroleum by nearly 3%, bringing the total to 255 million shares with a value of $16.1 billion.

Sirius XM Holdings $SIRI+3.2%
Berkshire's position in Sirius XM was increased by a significant 262%, bringing Berkshire's holdings to nearly 133 million shares, valued at approximately $376 million.

Share sales and reductions

Apple

AAPL

$228.87 $8.18 +3.71%

Capital Structure

Market Cap

3.4T

Enterpr. Val.

3.4T

Valuation

P/E

33.6

P/S

8.7

Open $217.55

Day range $217.54 - $222.70

52 week range $164.08 - $237.23

Apple $AAPL+3.7%
Buffett and his team significantly reduced their stake in Apple, Berkshire's largest investment. After selling 389 million shares, they now own exactly 400 million shares, worth more than $84 billion.

Capital One Financial $COF+5.2%
The stake in Capital One Financial has been reduced by 21%, and now stands at approximately 9.8 million shares valued at more than $1.3 billion.

T-Mobile US $TMUS+1.5%
The investment in T-Mobile US was reduced by nearly 11%, with Berkshire now owning 4.7 million shares valued at more than $823 million.

Paramount Global $PARA-0.9%
Berkshire divested its stake in Paramount Global, which was reduced by more than 88% in the first quarter. Buffett admitted the investment was flawed.

Snowflake $SNOW+2.9%
Berkshire completely sold off its stake in cloud company Snowflake, selling more than 6.1 million shares.

Chevron $CVX+0.7%
The stake in Chevron was reduced by about 3.6%, bringing the total to 119 million shares worth $18.6 billion.

Louisiana-Pacific Corp. $LPX+2.6%
's holdings in Louisiana-Pacific were reduced by 10%, for a total of 6 million shares, valued at approximately $491 million.

Floor & Decor Holdings $FND+2.7%
Position in Floor & Decor was cut by nearly 17%, resulting in ownership of just under 4 million shares, with a value of $395 million.

Liberty Live Group $LLYVA+1.0%
Berkshire also reduced its holdings in Liberty Live Group by 1.9% in Series C and 1.3% in Series A, for a combined value of approximately $605 million.

Major stock positions in the portfolio

Berkshire Hathaway maintains a concentration of its investments in several key companies. At the end of the second quarter, its largest positions accounted for approximately 73% of the portfolio's value:

Apple (AAPL) - $84.2 billion

Bank of America (BAC) - $41.1 billion

American Express (AXP) - $35.1 billion

Coca-Cola (KO) - $25.5 billion

Chevron (CVX) - $18.6 billion

Buffett also invested approximately $345 million to repurchase Berkshire Hathaway shares during the second quarter of 2024, following a $2.6 billion buyback in the first quarter. This suggests that he considers the company's stock undervalued and believes that continuing shareholders will benefit.

Source: Yahoo Finance, CNN.

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