Warren Buffett is arguably the world's most famous investor, and his investment moves are closely followed. Each quarter, the company he runs, Berkshire Hathaway ( BRK/A ), discloses its current holdings to shareholders.
Here are some of the changes Buffett and his two investment officers, Todd Combs and Ted Weschler, made during the fourth quarter, according to the latest 13F regulatory filing with the Securities and Exchange Commission (SEC). The holdings are reported as of Dec. 31, 2024.
Berkshire revealed a new $1.2 billion stake in Constellation Brands ( STZ ), which owns a variety of beer, wine and spirits brands such as Modelo, Corona, Kim Crawford and Fresca Mixed. Berkshire owned a little over 5.6 million shares at the end of 2024.
Berkshire boosted its stake in Domino's Pizza during the fourth quarter, adding more than 1.1 million shares. The position was established during the third quarter and was worth about $1 billion at the end of 2024.
Berkshire also increased its recently established position in Pool Corp. ( POOL ) during the fourth quarter. The stake was increased by nearly 50 percent and was worth about $204.1 million at the end of 2024. Pool Corp. ( POOL ) is a distributor of swimming pool supplies, equipment and other outdoor products.
Berkshire increased its stake in satellite radio leader SiriusXM Holdings by about 12 percent during the fourth quarter. Berkshire had sold some of its position during the third quarter. The stake was worth about $2.7 billion at the end of 2024.
Two longtime Berkshire holdings were also increased slightly during the fourth quarter. Its stake in oil and gas producer Occidental Petroleum ( OXY ) was increased by about 3.5 percent to $13.1 billion, while its position in domain name registry company Verisign ( VRSN ) was bumped up by 3.6 percent to $2.8 billion.
Buffett continued selling Bank of America ( BAC ), one of Berkshire's largest stock positions, during the fourth quarter. The firm reduced its stake in the bank by about 15 percent during the final quarter of 2024, resulting in a value of $29.9 billion at the end of the year.
Berkshire cut its stake in Citigroup ( C/PN ) by more than 73 percent during the quarter, selling almost 41 million shares. The position was established during the first quarter of 2022. The stake in the global financial company was valued at just over $1 billion at the end of 2024.
Berkshire also continued to reduce its position in Capital One Financial ( COF ), cutting it by just over 18 percent to 7.45 million shares. The stake was valued at about $1.3 billion as of the end of 2024.
Berkshire also sold shares of Brazilian digital bank Nu Holdings ( NU ) during the fourth quarter, with the firm cutting its stake by a little more than 53 percent. The position was established in the fourth quarter of 2021 and was worth about $416.3 million at the end of the year.
Berkshire continued to sell its position in cable company Charter Communications ( CHTR ) during the fourth quarter, cutting its holdings by about 29 percent. The position was valued at about $682.7 million as of the end of 2024.
Ulta Beauty ( ULTA ) exited the portfolio entirely during the fourth quarter, with Berkshire selling its small remaining position after sales during the third quarter. The position was the smallest in the portfolio at the end of September and stood at just $9.4 million.
Berkshire cut its stake in this Liberty Media ( LLYVB ) tracking stock by almost 12 percent during the fourth quarter. Formula 1 holds the exclusive rights to the popular motor racing competition. The stake was worth $630.2 million at the end of 2024.
Building materials manufacturer Louisiana-Pacific ( LPX ) and mobile communications giant T-Mobile were reduced slightly during the fourth quarter, with Berkshire reducing the positions by about 5 and 7 percent, respectively. The Louisiana-Pacific ( LPX ) stake was worth $586.6 million at the end of the year, while the T-Mobile position stood at $960.2 million.
Berkshire takes a concentrated approach with its investments, typically holding the majority of its portfolio in just a few companies. Its largest holdings at the end of the fourth quarter accounted for about 70 percent of the portfolio's value, and included these top five positions (valuations as of Dec. 31, 2024):
Apple (AAPL) - $75.1 billion
American Express ( AXP ) - $45.0 billion
Bank of America ( BAC ) - $29.9 billion
Coca-Cola (KO) - $24.9 billion
Chevron ( CVX ) - $17.2 billion
Buffett didn't repurchase any Berkshire stock during the third quarter of 2024, making it the first quarter without repurchases since the second quarter of 2018. Buffett likes stock buybacks because they can create value for continuing shareholders, but he only implements them when the company has excess cash and the shares are selling below a conservative estimate of the company's intrinsic value. The company bought back about $2.9 billion in stock during the first two quarters of 2024.
Information on buybacks during the fourth quarter will be released when Berkshire files its annual report at the end of February.
Buffett and Berkshire have an excellent track record in selecting investments, but be sure to research any investments thoroughly before investing yourself. Even stocks owned by legendary investors decline and you'll need to understand the businesses you're invested in well enough to make a buy, hold or sell decision on your own.
Related: 8 of the best Warren Buffett quotes of all time
Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.
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