These were Warren Buffett’s operations in the first quarter of 2023: What happened to his bank shares?

Warren Buffett Shares


IMPORTANT POINTS:

  • The Oracle of Omaha has made several changes to its portfolio, with notable sales and interesting purchases in this context.
  • Buffett decided to divest two banking holdings, though he invested a bit more in one of his favorites, Bank of America, despite the turmoil.
  • In addition, he bought back $20 million in Apple shares and now his stake is valued at more than $150 billion in the company.

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Through his investment fund Berkshire Hathaway, Warren Buffett has made several interesting moves during the first quarter of 2023. Here we mention them:

Also read: Warren Buffett has been selling all his bank stocks except one

1- Apple, your favorite company

The Oracle of Omaha bought more than $20 million worth of shares in the iPhone maker, so its stake in the company is now valued at $150 billion. In addition, it makes up 46.4% of Berkshire’s portfolio.

2- Sudden changes in the financial sector

The banking crisis forced Buffett to move quickly, something he rarely does. He decided to get rid of two bank holdings: Bank of New York Mellon, where he sold shares for $25 million, and US Bancorp, selling $6 million in shares.

Similarly, the Berkshire CEO bought $23 million in Bank of America stock and nearly $10 million in Capital One Financial, the latter being a flashy bet on regional bank collapses. Notably, BofA is now it’s second-largest holding behind Apple, with a weighting of 9%.

3- Increases in participation, although not so great

Also during the first three months of the year, Buffett increased his position in two companies, although the increase was not large: Occidental Petroleum and HP.

4- Some more sales

In addition to the two banks mentioned above, the Oracle of Omaha sold its entire stake in chipmaker TSMC. In addition, he dumped $30 million in Chevron stock, $10 million in General Motors, and $3 million in Activision Blizzard.

His biggest holdings

The first four places in the ranking are made up of Apple, Bank of America, Chevron and Occidental Petroleum. Further back are:  American Express, with a weighting of  7.69%Coca-Cola (7.63%), Kraft Heinz (3.87%) and Moody’s (2.32%).