Warren Buffett dumps major shares – including Apple and Paramount
In the second quarter of 2024, Warren Buffett’s Berkshire Hathaway reduced its stake in Apple by nearly 50% and sold its entire stake in Paramount Global.
This was revealed in Berkshire’s 13F filing with the US Securities and Exchange Commission, a requirement for all investors managing over $100 million (R1.78 billion) in funds.
Buffett, a titan in the realm of investing, has left an indelible mark on the financial landscape. His remarkable achievements and relatable demeanour have elevated him to icon status within the investment community.
Buffett’s investment journey began in Omaha, Nebraska, where his early fascination with business and finance took root. Since his formative years, he immersed himself in financial literature and meticulously studied stock market trends.
His unwavering passion for investment led him to pursue higher education, ultimately attaining a Master of Science in Economics from Columbia Business School.
In 1956, Buffett embarked on his entrepreneurial path, establishing his own investment partnership and laying the groundwork for his future triumphs.
In 1965, Buffett made a pivotal move by assuming control of Berkshire Hathaway, transforming it from a struggling textile company into a global investment powerhouse.
Today, at 93 years old, Buffett remains at the helm of Berkshire Hathaway.
Central to Buffett’s investment philosophy is value investing, wherein he identifies undervalued companies with strong fundamentals.
This strategy has consistently yielded remarkable returns over time. Beyond his investment acumen, Buffett’s humility and frugality, despite his immense wealth, have garnered widespread admiration.
He continues to reside in the same modest home he purchased decades ago and shuns ostentatious displays of affluence.
Buffett’s annual shareholder letters and engaging presence at Berkshire’s annual meetings have endeared him to investors worldwide.
Moreover, his philanthropic endeavors underscore his commitment to giving back. He pledged to donate the majority of his fortune to charitable causes once he passes.
Through initiatives like The Giving Pledge, co-founded with Bill and Melinda Gates, Buffett’s philanthropic leadership has inspired numerous billionaires to join in the spirit of giving.
Berkshire Hathaway share portfolio
During quarter 2 of 2024, Berkshire added two new shares – Ulta Beauty and HEICO – to its portfolio and increased its stake in five companies.
Additionally, the firm reduced its stake in eight companies, including T-Mobile, Chevron, and Capital One Financial.
Notably, the company reduced its stake in Apple by 49.33%, representing a 29.29% change to its portfolio.
However, Apple is still the company’s largest share, with an estimated value of $84.25 billion (R1.5 trillion).
Berkshire also sold its entire stake in two companies – cloud computing–based data company Snowflake and media giant Paramount Global.
As of 30 June 2024, Berkshire’s portfolio is valued at $279.97 billion (R4.98 trillion) and comprises 41 stocks, down from $331.7 billion (R5.9 trillion) in the previous quarter.
The table below shows Warren Buffett’s Berkshire Hathaway top 20 shares as of 30 June 2024.
| Company | % of portfolio | Activity | Value |
| Apple Inc. | 30.09 | Reduce 49.33% | $84,247,999,000 |
| Bank of America Corp. | 14.67 | No change | $41,076,524,000 |
| American Express | 12.54 | No change | $35,105,458,000 |
| Coca Cola Co. | 9.09 | No change | $25,460,001,000 |
| Chevron Corp. | 6.63 | Reduce 3.55% | $18,553,060,000 |
| Occidental Petroleum | 5.75 | Add 2.93% | $16,090,394,000 |
| Kraft Heinz Co. | 3.75 | No change | $10,491,954,000 |
| Moody’s Corp. | 3.71 | No change | $10,384,250,000 |
| Chubb Limited | 2.46 | Add 4.28% | $6,895,778,000 |
| DaVita HealthCare Partners | 1.79 | No change | $5,001,763,000 |
| Citigroup Inc. | 1.25 | No change | $3,505,835,000 |
| Kroger Co. | 0.89 | No change | $2,496,500,000 |
| Verisign Inc. | 0.81 | No change | $2,278,616,000 |
| Visa Inc. | 0.78 | No change | $2,177,834,000 |
| Amazon.com Inc. | 0.69 | No change | $1,932,500,000 |
| Mastercard Inc. | 0.63 | No change | $1,758,750,000 |
| Liberty SiriusXM Series C | 0.55 | Add 6.90% | $1,551,265,000 |
| Capital One Financial | 0.49 | Reduce 21.27% | $1,359,448,000 |
| Nu Holdings Ltd | 0.49 | No change | $1,380,761,000 |
| Aon Plc | 0.43 | No change | $1,203,678,000 |
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