Warren Buffett's Berkshire Hathaway reported another stellar quarter on Saturday, and the conglomerate continued to rake in profits from its equity bets. The 91-year-old "Oracle of Omaha" revealed his top equity holdings in his widely read annual letter. "We own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves," Buffett said in his annual letter. "That point is crucial: Charlie and I are not stock-pickers; we are business-pickers." Here's a look at Buffett's high-conviction bets: Apple remained Berkshire's single biggest bet by far with a market value of over $160 billion. Buffett in his letter listed the tech company under the heading "Our Four Giants" and even called Apple the second-most important after Berkshire's cluster of insurers, thanks to CEO Tim Cook. Berkshire also owns big stakes in American Express and Bank of America as of the end of 2021. In the financial sector, the conglomerate also had Moody's and Bank of New York Mellon in its top 15 holdings. The investing legend's Chevron bet was worth about $4.5 billion at the end of December. Berkshire ramped up this energy position by over 30% in the fourth quarter. Buffett first bought Chevron at the end of 2020, which was largely viewed as a classic value play and a bet on the rebounding economy. The wager has paid off handsomely, as the energy stock rallied 39% in 2021 and has gained another 16% year to date. Chevron also pays a 4.05% dividend. Buffett's longtime bet Coca-Cola had a market value of $23.7 billion at the end of the fourth quarter. Also making it to Berkshire's top holdings were a couple of Japanese trading companies that Buffett acquired stakes in leading up to his 90th birthday — Itochu Corp ., Mitsubishi Corp. and Mitsui & Co . These companies invest in overseas energy and metals assets, which benefited from a huge rebound in commodity prices and just posted record quarterly earnings.
Gerry Miller | CNBC