Major Changes to Berkshire Hathaway’s Portfolio During 2018 Second Quarter

In an SEC 13F filing after the market closed today, Berkshire Hathaway revealed major changes to its portfolio as of June 30, 2018.

The largest additions to its current holdings in its portfolio were:

(1) Apple (AAPL):  + $2.5 billion (14 million shares or 5.2%)

(2) Delta Airlines (DAL) : + $500 million (10 million shares or 18.8%)

(3) Goldman Sachs (GS): + $500 million (2.3 million shares or 21%)

(4) U.S. Bancorp (USB): + $500 million (10 million shares or 10.8%)

(5) Southwest Airlines (LUV): + $465 million (9.3 million shares or 18.7%)

The largest subtractions from current holdings in its portfolio were:

(1) Phillips 66 (PSX): – $1.3 billion (11.5 million shares or 24%)

(2) Charter Communications (CHTR): – $200 million (700,000 shares or 8.7%)

Additions of less than $100 million were made in Bank of New York (BK), General Motors (GM), Liberty Global (LBTYA), Teva Pharmaceutical (TEVA), and Axalta Coating Systems (AXTA)

Reductions of less than $100 million were made in American Airlines (AAL), United Continental Holdings (UAL), and Wells Fargo (WFC) to maintain Berkshire’s stakes at less than 10% as these companies have bought back their shares.

There were no new investments added to its portfolio during the second quarter.  Verisk Analytics (VRSK) ($30 million) was eliminated.