Here are Warren Buffett's biggest stock bets

Published Sat, Feb 27 202110:06 AM EST

Warren Buffett's Berkshire Hathaway released its annual letter to shareholders on Saturday, giving investors a look into the conglomerate's top equity bets. The table below is a list of the largest holdings by market value of the Berkshire stake. As of the fourth quarter, Apple continued to be Berkshire's top holding by the market value of the stake. Buffett noted that Berkshire began buying shares of Apple in late 2016, and by the beginning of July 2018 had amassed a position slightly greater than one billion shares on a split-adjusted basis. In total the company owned 5.2% of the tech giant. Since then, Berkshire sold $11 billion worth of its position in 2020, but because of Apple's share repurchase program Berkshire now owns 5.4% of Apple. "The math of repurchases grinds away slowly, but can be powerful over time," Buffett said in his letter. "The process offers a simple way for investors to own an ever-expanding portion of exceptional businesses." Berkshire's second largest holding is Bank of America , while Coca-Cola rounds out the top three positions. In total, Berkshire's equity investments valued $281.17 billion as of the end of the fourth quarter. Buffett emphasized in his letter to shareholders, which he's issued annually since 1977, that he and Charlie Munger, Berkshire's vice chairman, think of their equity holdings as a "collection of businesses." "We don't control the operations of those companies, but we do share proportionately in their long-term prosperity," he wrote. Berkshire continues to hold $138 billion in cash — ever after the record $24.7 billion used to buy back stock in 2020 — but the company did put some money to work as the coronavirus pandemic roiled markets last year. During the fourth quarter Berkshire added Verizon , Chevron and Marsh & McClennan to its portfolio, according to recent filings with the Securities and Exchange Commission. At the same time, the Buffett-led conglomerate exited its JPMorgan position, and slashed its Wells Fargo stake by nearly 60%. - CNBC's Yun Li contributed reporting.

Warren Buffett

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