Billionaire Warren Buffett is now betting a whopping $120 billion on just two assets.
The chairman and CEO of Berkshire Hathaway has allocated 40.1% of the firm’s portfolio to Apple (AAPL) and American Express (AXP), according to new SEC filings.
Berkshire initiated its investment in Apple back in 2016 and has adjusted its holdings multiple times, including significant reductions this year.
And the firm’s steady exposure to American Express comes despite a years-long departure from the US banking sector and a multi billion-dollar exodus from positions in Bank of America (BAC), JPMorgan Chase and Wells Fargo.
Buffett has held American Express stock since the mid 90’s and has said he’ll never sell it, touting its strong brand, loyal customer base, wide economic moat and consistent profitability.
As Buffett continues to sell Bank of America shares, BAC now sits in the number three position in Berkshire’s portfolio, with about $35 billion invested, representing 11.7% of the portfolio.
Overall, Buffett continues to exercise caution in the markets, with Berkshire now sitting on $325 billion in cash and equivalents, nearly double the amount at the end of 2023.
Berkshire has about $300 billion invested – here’s a look at the firm’s top 10 positions at time of publishing.
- Apple Inc (AAPL) – $74.4 billion Held, 24.8% of Portfolio
- American Express Co (AXP) – $45.8 billion Held, 15.3% of Portfolio
- Bank of America Corp (BAC) – $35.0 billion Held, 11.7% of Portfolio
- Coca-Cola Co (KO) – $25.2 billion Held, 8.4% of Portfolio
- Chevron Corp (CVX) – $18.3 billion Held, 6.1% of Portfolio
- Occidental Petroleum Corp (OXY) – $12.2 billion Held, 4.1% of Portfolio
- Moody’s Corp (MCO) – $12.1 billion Held, 4.0% of Portfolio
- Kraft Heinz Co (KHC) – $10.3 billion Held, 3.4% of Portfolio
- Chubb Ltd (CB) – $7.5 billion Held, 2.5% of Portfolio
- Itochu Corporation (8001:TYO) – $5.9 billion Held, 2.0% of Portfolio
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