Billionaire Warren Buffett is now betting a whopping $120 billion on just two assets.
Berkshire Hathaway’s chairman and CEO has allocated 40.1% of the company’s portfolio to Apple (AAPL) and American Express (AXP), according to the new SEC. files.
Berkshire started its investment in Apple back in 2016 and has adjusted its holdings several times, including significant reductions this year.
And the company’s steady exposure to American Express comes despite a years-long exit from the U.S. banking industry and a billion-dollar exodus from positions in Bank of America (BAC), JPMorgan Chase and Wells Fargo.
Buffett has owned shares of American Express since the mid-1990s and has said he will never sell them. He praised the company’s strong brand, loyal customer base, wide economic moat and consistent profitability.
While Buffett continues to sell Bank of America shares, BAC now ranks third in Berkshire’s portfolio, with approximately $35 billion invested, representing 11.7% of the portfolio.
Overall, Buffett remains cautious on the markets, with Berkshire now sitting on $325 billion in cash and equivalents, almost double the amount at the end of 2023.
Berkshire has invested approximately $300 billion – here’s a look at the company’s top 10 holdings at the time of publication.
- Apple Inc (AAPL) – $74.4 billion held, 24.8% of the portfolio
- American Express Co (AXP) – $45.8 billion held, 15.3% of the portfolio
- Bank of America Corp (BAC) – $35.0 billion held, 11.7% of the portfolio
- Coca-Cola Co (KO) – $25.2 billion held, 8.4% of the portfolio
- Chevron Corp (CVX) – $18.3 billion held, 6.1% of the portfolio
- Occidental Petroleum Corp (OXY) – $12.2 billion held, 4.1% of the portfolio
- Moody’s Corp (MCO) – $12.1 billion held, 4.0% of the portfolio
- Kraft Heinz Co (KHC) – $10.3 billion held, 3.4% of portfolio
- Chubb Ltd (CB) – $7.5 billion held, 2.5% of the portfolio
- Itochu Corporation (8001:TYO) – $5.9 billion held, 2.0% of portfolio
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Generated image: Midjourney