Warren Buffett Has Sold Over 950 Million Shares of Apple and Bank of America. But the Billionaire Has Made a Killing on 1 Stock He Hasn’t Touched in 27 Years
2024 turned out to be a strange year Warren Buffett and his company Berkshire Hathaway(NYSE: BRK.A)(NYSE: BRK.B)A number of Berkshire fund has been well done, the stocks of class B, which causes 27% return and beat the more than 23% return of the broader market.
However, Buffett has taken many steps, noting that he is watching the market or at least the large-scale large-scale spots. Berkshire Hoaded Cash was a net seller of shares and sold two large parts of its largest position – Apple(NASDAQ: AAPL) aeration of Bank of America(NYSE: BAC)A number of still did not touch the shares of one of his largest long reserves, on which murder was committed.
Buffett has never preached the diversification, believing that it is a bad excuse for ignorance. When he sees that he loves, he doesn’t mess. Such was a consumer technology giant apple. Berkshire first bought the shares in 2016 and was built by about 40% of his massive (approximately $ 296 billion) portfolio. Buffett did most of his purchase when Apple was selling under $ 50 per share. Today, shares are sold for $ 240 per share.
After a large decline in 2011, Berkshire invested in the Bank of America. Omaha Tomb Omaha Oracle inspires $ 5 billion bank in exchange for 6% annual dividend. Berkshire also received guarantees that allow you to buy a share of 700 million shares, $ 7.14 per share at the strike costs. Today, the Bank of America sells shares for about $ 44 per share.
Thus, Buffett has left great revenues on both Apple and the Bank of America. It is difficult to know whether Berkshire plans to completely leave these positions, which collectively compiled 39% of its portfolio at the end of 2024.
We do not know exactly what it applies to Apple and the Bank of America. But taking into account the Berkshire steps in 2024, it can see a correction or economic decline in the horizon, and it can be searched for selling cash.
Buffett and Berkshire have a long and tax history with credit card and payment company American Express:(NYSE: AXP)A number of Berkshire has accumulated shares for the first time in 1991, when it provided the American Express with a capital of $ 300 million when the company was fighting. In response, Berkshire received a special type of derivative convertible fund and pays 8.5% yield. In 1994, the preferred shares were exchanged for 14 million total shares, and then Berkshire bought 27.7 million shares according to New York Times later.
Until 1998, Berkshire acquired about about 8.8 million stakes, bringing his total position a little more than 50.5 million shares. In 2000, three-tiered shares will raise the number of Berkshir’s shares, which was kept about 151.6 million, the calculation of the same shares, which took place at the end of the fourth quarter of 2024.
Although Berkshire has recently been sharper in bank shares, American Express is unique in the fact that it has a huge credit card privilege aeration of There is one of the four major credit cards in the world. While his network is almost as large as they Visa or MasterCard:Amex also releases credit cards to consumers.
Buffett is a big fan of powerful companies that effectively build cavities, and American Express has made it more ways. For example, the construction of the credit card network requires an incredible amount of scale, so aside from MasterCard and Discover financial servicesthat could soon merge and enter in Capital one financial) It is unlikely that it will have other competitors.
The company has also built an enviable brand among consumers. Many consumers believe that Amex card has a certain status. That’s why they will pay $ 700 per year for the company’s platinum card. This not only creates a strong flow of recurring revenues, but also draws higher-income customers that tend to be more durable.
The American Express Fund is currently about 15% of the Berkshire portfolio and not sold for about 27 years. It is impressive in the portfolio, where almost every shares, no matter what its story with Buffett and his team, it seems to be vulnerable these days.
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American Express is a Motley Fool Money Advertising Partner. Discover Financial Services is the Advertising Partner of Motley Hol Money. The Bank of America is the advertising partner of Motley Fool money.
Bram Berkowitz does not have any of the specified shares. Motley Fool has positions and advises Apple, Bank of America, Berkshire Hathaway, MasterCard and Visa. MOTLEY FOOL recommends discovering financial services. Motley Fool has Discovery Policy:A number
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