Billionaire Warren Buffett Bets $120,000,000,000 on Two Assets After Dumping Bank of America, JPMorgan Chase, Wells Fargo

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Daily Hodl2024/12/13 16:00

By:by Daily Hodl Staff

Billionaire Warren Buffett is now betting a whopping $120 billion on just two assets.

The chairman and CEO of Berkshire Hathaway has allocated 40.1% of the firm’s portfolio to Apple (AAPL) and American Express (AXP), according to new SEC filings .

Berkshire initiated its investment in Apple back in 2016 and has adjusted its holdings multiple times, including significant reductions this year.

And the firm’s steady exposure to American Express comes despite a years-long departure from the US banking sector and a multi billion-dollar exodus from positions in Bank of America (BAC), JPMorgan Chase and Wells Fargo.

Buffett has held American Express stock since the mid 90’s and has said he’ll never sell it, touting its strong brand, loyal customer base, wide economic moat and consistent profitability.

As Buffett continues to sell Bank of America shares, BAC now sits in the number three position in Berkshire’s portfolio, with about $35 billion invested, representing 11.7% of the portfolio.

Overall, Buffett continues to exercise caution in the markets, with Berkshire now sitting on $325 billion in cash and equivalents, nearly double the amount at the end of 2023.

Berkshire has about $300 billion invested – here’s a look at the firm’s top 10 positions at time of publishing.

Apple Inc (AAPL) – $74.4 billion Held, 24.8% of Portfolio
American Express Co (AXP) – $45.8 billion Held, 15.3% of Portfolio
Bank of America Corp (BAC) – $35.0 billion Held, 11.7% of Portfolio
Coca-Cola Co (KO) – $25.2 billion Held, 8.4% of Portfolio
Chevron Corp (CVX) – $18.3 billion Held, 6.1% of Portfolio
Occidental Petroleum Corp (OXY) – $12.2 billion Held, 4.1% of Portfolio
Moody’s Corp (MCO) – $12.1 billion Held, 4.0% of Portfolio
Kraft Heinz Co (KHC) – $10.3 billion Held, 3.4% of Portfolio
Chubb Ltd (CB) – $7.5 billion Held, 2.5% of Portfolio
Itochu Corporation (8001:TYO) – $5.9 billion Held, 2.0% of Portfolio

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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