Commercial message: Every quarter, large American funds and investors must disclose changes in their stock portfolios. Traditionally, the most attention is drawn to Berkshire Hathaway, the investment conglomerate led for several decades by legendary investor Warren Buffett. However, since the beginning of the year, the company has been led as CEO by Greg Abel, who made several interesting changes during the last quarter.
Alphabet has become one of Berkshire's largest holdings
The most significant change in Berkshire Hathaway's portfolio was the increase in its position in Alphabet, with the firm buying shares of both major classes. This made Alphabet the third-largest position in Berkshire's entire investment portfolio, with a weight of approximately 12,4%. Alphabet is only ahead of Apple, which makes up approximately 22% of the portfolio, and American Express with a weight of around 17%. The purchase of Alphabet is also interesting from a historical perspective. Warren Buffett and the late Charlie Munger have spoken positively about Google several times in the past, describing it as an exceptionally high-quality company with a strong competitive advantage.
What makes it all the more interesting is that Berkshire is buying Alphabet even after the stock has seen significant growth in recent years. The investment also shows that Berkshire's current leadership sees long-term potential in technology and artificial intelligence.
In addition to Alphabet, Berkshire also opened a new position in construction company DR Horton. It was a very small investment, but the firm also increased some of its existing positions, including in Macy's, Delta Air Lines, and others. Air Lines or media companies The New York Times.
Berkshire is also reducing some positions
Not all of Berkshire's moves were purchases, however. The company continued to reduce its long-term position in Bank of America, which it has been gradually reducing for some time. Exposure was also reduced in other financial companies, such as Ally Financial or Kroger.
Source: Dataroma
Berkshire has pulled out of a full divestment of its stake in alcoholic beverage maker Constellation Brands, a move that shows the company is continuing to actively adjust its portfolio.folio according to the current view of the valuation of individual companies and their future potential.
It wasn't just Berkshire that changed its portfolio
It wasn't just Berkshire Hathaway that made changes to its investments. Other well-known investors also made interesting moves. Bill Ackman and his fund Pershing Square Capital Management increased their position in Uber, which Ackman has long been bullish on. They also added shares Microsoftua Metz, while his position in Amazonreduced by approximately a quarter.
Ray Dalio and his Bridgewater Associates, on the other hand, were partially exiting technology stocks. The fund reduced positions in Nvidia, Broadcom, Amazonu, Alphabet, AMD or Microsoftua moved some of its capital into index funds focused on the S&P 500.
Stanley Druckenmiller continued to strengthen his technology investments. He increased his position in Taiwan's TSMC, Amazonua also recently purchased shares of Alphabet.
Big tech companies with their own investment portfolios have also made changes. Nvidia holds a significant position in Intel, which accounts for about 47% of its publicly traded portfolio. SpaceX, which accounts for about a third of Nvidia's portfolio value, has also recently joined the list of significant positions. SpaceX itself holds a large position in Alphabet, which accounts for about 95% of its publicly traded portfolio.
Technology stocks remain in the spotlight
A look at the changes in large investors shows that the technology sector remains one of the main themes of the market. Among the most frequently purchased stocks in the last quarter were, for example: Microsoft, Meta, Visa, Amazon or Berkshire Hathaway.
On the other hand, some big tech names, such as Alphabet, are also among the top-selling titles. Microsoft, Amazon, TSMC or Apple. This shows that even among the largest investors there is no unified view of which companies have the greatest potential in the current environment. It is the changes in the portfolios of large investors that often show how professionals think about the market and where they are looking for new opportunities. You can find more about the current changes in the portfolios of the largest investors in video from XTB.
In its e-book, XTB also focused on the development of Berkshire Hathaway, its investment strategy, and its most important positions.
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