Berkshire Hathaway released data for the first quarter of 2024 on Saturday, showing that the majority of the group’s equity portfolio is concentrated in just five stocks. As stocks soared to record levels in the first three months of 2024, signaling the start of a new bull market, the Warren Buffett-led behemoth kept the makeup of its top five holdings unchanged. However, Berkshire did cut its investment in Apple by 13% in the first quarter, marking the second consecutive period in which the company reduced its holdings in the iPhone maker. As of January to the end of March, Berkshire Hathaway held $135.4 billion worth of Apple stock, equivalent to about 790 million shares. Still, Apple remains the group’s largest holding by far. Apple has underperformed this year, falling more than 4%, while the S&P 500 surged 7.5% to a record high. Berkshire Hathaway’s other major holdings include shares in American Express worth $34.5 billion and Bank of America worth $39.2 billion. The company also owns $24.5 billion worth of Coca-Cola stock (a long-time Buffett holding) and $19.4 billion worth of Chevron stock. Overall, these five positions account for about 75% of Berkshire Hathaway’s stock portfolio.
