Regulatory filings reveal that Berkshire Hathaway, led by the "Oracle of Omaha" Warren Buffett, has adjusted its stakes in U.S. tech giants as his year-end "retirement" countdown begins.
After U.S. markets closed on Friday, November 14, Berkshire disclosed its Q3 13F filing with the SEC, showing its largest equity holdings concentrated in two tech behemoths—Apple and Alphabet (Google’s parent). While Apple saw further divestment, Alphabet emerged as a new position.
The move to initiate a stake in Alphabet surprised observers, given Buffett’s traditional value-investing approach and cautious stance toward high-growth tech stocks.
**Apple Sell-Off Doubles in Q3** Berkshire reduced its Apple (AAPL) holdings by approximately 41.79 million shares in Q3, a 14.9% quarterly drop, trimming the position’s value by $10.6 billion.
This marks the second consecutive quarter of Apple divestment, with Q3’s sell-off intensifying—more than double Q2’s 20 million shares and 2.6x the dollar reduction. The scale exceeded earlier media estimates of ~35 million shares sold.
Despite Apple’s 24% Q3 rally, its weight in Berkshire’s portfolio edged up slightly to 22.69% (from 22.31% in Q2).
After slashing Apple holdings by 50% and 25% in Q2 and Q3 2023, Berkshire paused adjustments in Q4 2023 and Q1 2024. Apple remains Berkshire’s top holding, with 238+ million shares retained as of Q3-end.
**Bank of America Cut by 45% Over a Year** Among Berkshire’s top 10 holdings, only Bank of America (BAC) joined Apple in facing Q3 reductions. Berkshire sold ~37.2 million BAC shares (-6.15% QoQ), reducing the stake’s value by $1.92 billion. Its portfolio share dipped to 10.96% (from 11.12%).
BAC was the second-largest divestment by value after Apple. Q3’s sell-off accelerated (+41% shares sold vs. Q2), though it fell short of media projections of 50–100 million shares.
BAC remains Berkshire’s third-largest holding, but cumulative cuts since mid-2023 total ~45% (from 1.03 billion to 568 million shares).
**New Alphabet Position Worth $4.34B** Berkshire initiated a ~17.85 million-share position in Alphabet (GOOGL), marking its first foray into the Google parent.
The $4.34 billion stake comprises 1.62% of Berkshire’s portfolio, making Alphabet its largest Q3 purchase—far surpassing second-place Chubb. Alphabet’s stock surged 37% in Q3 and over 40% YTD, ranking among 2024’s top performers.
Speculation suggests the Alphabet bet may stem from Berkshire investment managers Todd Combs or Ted Weschler, who have been more active in tech (e.g., Combs’ 2019 Amazon investment).
**Chubb Lone Top-10 Holding to See Q3 Boost** Berkshire’s Q3-end top 10 holdings remained largely unchanged, with Alphabet replacing DaVita (DVA) at #10.
Chubb (CB) was the sole top-10 position expanded (+4.3 million shares, +$1.21B), lifting its portfolio share to 3.31% (from 3.04%).
**Top 10 Holdings as of Q3:** 1. Apple (AAPL) 2. American Express (AXP) 3. Bank of America (BAC) 4. Coca-Cola (KO) 5. Chevron (CVX) 6. Occidental Petroleum (OXY) (↑ from #7) 7. Moody’s (MCO) (↓ from #6) 8. Chubb (CB) (↑ from #9) 9. Kraft Heinz (KHC) (↓ from #8) 10. Alphabet (GOOGL)
