Warren Buffett’s Berkshire Hathaway just revealed that about 70% of its equity portfolio was concentrated in just five names. Here’s a look at these high-conviction bets from the legendary investor. While the conglomerate enjoyed a big uptick in operating earnings, it posted a $53 billion loss on its investments in the second quarter amid general market turmoil. The legendary investor once again asked investors not to focus on quarterly fluctuations in their equity investments. “The amount of investment gains/losses in a quarter is usually meaningless and provides net earnings per share figures that can be extremely misleading to investors with little or no knowledge of accounting rules,” Berkshire said in a communicated Apple was still Berkshire’s largest common stock investment at the end of the second quarter, with a market value of $125.1 billion. The tech giant has lost roughly 7% this year as rising rates prompted investors to flee growth-oriented stocks. Still, Apple is outperforming the S&P 500 year to date, as the benchmark suffered a 13% loss. Apple on July 28 reported fiscal third-quarter results that beat Wall Street expectations for sales and profit, but showed slowing growth for the iPhone maker. Chevron moved into Berkshire’s top five holdings, worth $23.7 billion at the end of June, after the conglomerate upped the ante significantly in the first quarter. Chevron shares are up 30% this year on rising oil prices. The energy name also pays a 3.7% dividend. Long-standing holdings Coca-Cola, American Express and Bank of America were also among Berkshire’s biggest bets at the end of June.
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