Aug 142018

In an SEC 13F filing after the market closed today, Berkshire Hathaway revealed major changes to its portfolio as of June 30, 2018.

The largest additions to its current holdings in its portfolio were:

(1) Apple (AAPL):  + $2.5 billion (14 million shares or 5.2%)

(2) Delta Airlines (DAL) : + $500 million (10 million shares or 18.8%)

(3) Goldman Sachs (GS): + $500 million (2.3 million shares or 21%)

(4) U.S. Bancorp (USB): + $500 million (10 million shares or 10.8%)

(5) Southwest Airlines (LUV): + $465 million (9.3 million shares or 18.7%)


The largest subtractions from current holdings in its portfolio were:

(1) Phillips 66 (PSX): – $1.3 billion (11.5 million shares or 24%)

(2) Charter Communications (CHTR): – $200 million (700,000 shares or 8.7%)


Additions of less than $100 million were made in Bank of New York (BK), General Motors (GM), Liberty Global (LBTYA), Teva Pharmaceutical (TEVA), and Axalta Coating Systems (AXTA)

Reductions of less than $100 million were made in American Airlines (AAL), United Continental Holdings (UAL), and Wells Fargo (WFC) to maintain Berkshire’s stakes at less than 10% as these companies have bought back their shares.

There were no new investments added to its portfolio during the second quarter.  Verisk Analytics (VRSK) ($30 million) was eliminated.



 Posted by at 5:32 pm
Aug 142018

Warren Buffett, who will observe his 88th birthday on August 30, will no longer meet with college students in Omaha.

On behalf of the University of Maryland, I wish to express my gratitude for having the opportunity to accompany our undergraduate and graduate students on trips to Omaha for private meetings with Warren Buffett on May 23, 2005, March 11, 2011, November 15, 2013, and November 18, 2016.  My notes from these meetings are available on my web page.




 Posted by at 7:49 am
Aug 102018

The six largest companies by market capitalization represent 20% of the total market capitalization of the S&P 500 of $23 trillion.  The six largest are: Apple ($1.005 Trillion), Amazon ($926 Billion), Alphabet ($880 Billion), Microsoft ($843 Billion), Facebook ($529 Billion), and Berkshire Hathaway ($518 Billion).

Apple ($208.15) and Berkshire Hathaway Class B ($209.10) closed at almost the same price yesterday. Berkshire is Apple’s largest shareholder with a $50 billion stake equal to 5% of Apple.

 Posted by at 8:34 am