The Oracle of Omaha deals the cards again
And this time a huge surprise - a historic first entry into Google
Berkshire Hathaway holdings update – Q3
A deep dive into Berkshire's investment portfolio in Q3 reveals a continuous movement of calibration, reduction, and strategic refinement: exactly in Buffett's style
A gentle, but decisive touch.
Berkshire reduced total holdings by only about 0.8%, but within this small number, significant decisions are hidden:
- 6 companies received further strengthening in the portfolio.
- One company received a completely new position.
- 5 companies were reduced.
- One position was closed.
Who received more trust from Buffett? Berkshire continued to increase exposure to several prominent names, thereby signaling renewed confidence in their business models:
1. Domino's Pizza ($DPZ), continuous strengthening, a sign of satisfaction with consistent cash flow and a business model that continues to deliver value.
2. Lennar (LEN / LEN.B) One of the leading construction companies in the US.
3. Lamar Advertising Company ($LAMR), out-of-home advertising, a sector often considered 'old' but with stability and steady revenue.
4. Sirius XM Company ($SIRI), satellite broadcasting, a move that continues the 'anchor' strategy: plenty of cash, little risk.
5. Chubb Company ($CB), an insurance company with a clear competitive advantage, aligns directly with Berkshire's DNA.
A real surprise: new position in Google ($GOOGL)
Yes, it's happening, Berkshire is opening a new and significant position in Google, which immediately became the tenth largest in the portfolio (about $4.3 billion).
Buffett has previously admitted missing the 'Google train' years ago, is he trying to correct it now?
It's important to remember: with Google, Amazon, and Apple, Berkshire now holds 3 out of the top 7 tech giants...
The question we are asking?
Does Buffett believe in Google as a leader in artificial intelligence?
The shrinking side: who received less space in the portfolio?
The downward movements in the portfolio are no less interesting, they always tell a story of a change in perception or risk balancing:
Apple Company ($AAPL) A further reduction of about 15%. A continuation of a trend that appears to be a tactical rather than a strategic move.
Bank of America (BAC), fifth consecutive quarter of reductions, a clear signal of de-risking in the banking sector.
Additionally, Buffett reduced positions in VeriSign (VRSN), DaVita (DVA), Nucor (NUE), reductions across several different sectors, from domains to dialysis and steel mills.
Full closure: D.H. Horton (DHI)
The five largest positions in Berkshire's portfolio: 1. Apple 2. American Express 3. Bank of America 4. Coca-Cola 5. Chevron
And immediately after them, $OXY, in which Buffett already holds about 27%.