Warren Buffett turned heads when he offloaded another large portion of his Apple stake, the highest of his holdings at the end of the third quarter. Berkshire Hathaway revealed in its earnings report that nearly 70% of its stock portfolio is concentrated in just five stocks — Apple, Bank of America, Coca-Cola, American Express, and Chevron. The Oracle of Omaha has reduced its stake in Apple for the fourth straight quarter, offloading about a quarter of the pot with $69.9 billion of shares remaining at the end of September. Earlier this year, Buffett indicated that his sale of Apple was likely motivated by higher capital gains taxes, but the size of his turnover led many to speculate that it was due to valuation concerns, corporate or portfolio management reasons. Apple isn't the only stock Buffett has unloaded. Since mid-July, Berkshire has reaped more than $10 billion from the sale of its long-standing investment in Bank of America. The earnings report only reflects end-September holdings. Berkshire sold more Bank of America shares in October, bringing the bank's stake just below 10%, a key threshold that requires frequent disclosures with regulators. Months after the sale, Bank of America is no longer Berkshire's second-largest company. It trailed America Express as Berkshire owned $41.1 billion in the credit card company at the end of the third quarter. Ownership of the Omaha-based conglomerate's Chevron was unchanged in the fourth quarter, with a value of $17.5 billion at the end of September. Energy stocks are up just 2.6% this year, significantly lagging the broader market. Coca-Cola's longstanding holding also remained flat last quarter at $28.7 billion. The consumer giant's stock is up 10.3% in 2024, compared to the S&P 500's return of 20.1%.
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Warren Buffett sells his shares. Here are his top 5 collectibles
