Warren Buffett’s Berkshire Hathaway reported another stellar quarter on Saturday, with the conglomerate revealing that three-quarters of its stock portfolio was tied up in just five names. The Omaha-based conglomerate said about 75% of its total fair value at the end of the third quarter was concentrated in five companies. Buffett’s juggernaut posted a major investment loss of $24.1 billion in the third quarter, largely due to a decline in its massive stake in Apple. Shares of the iPhone maker fell 11.7% during the quarter, dropping the value of Berkshire’s stake from more than $177.6 billion to $119 billion. The other four top holdings remained unchanged last quarter: $22.4 billion to American Express, $34.2 billion to Bank of America, $25.4 billion to Coca-Cola and $30 billion to Chevron. Chevron’s stake rose in value as its energy stock rose more than 7% during the quarter due to a rise in oil prices. Still, the “Oracle of Omaha” advised shareholders to ignore the quarterly fluctuations in Berkshire’s stock portfolio. βThe amount of investment gains/losses in a given quarter is generally meaningless and produces net income (loss) per share figures that can be extremely misleading to investors with little or no knowledge of accounting rules,β Buffett said in a statement.
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