2 Additions and 1 Reduction to Berkshire Hathaway’s Portfolio During the Third Quarter

In an SEC Form 13-F filing after the market closed today, Berkshire Hathaway revealed 2 major additions to its portfolio during the third quarter.

Berkshire made an initial purchase of

(1) 7.5 million shares of Occidental Petroleum (OXY) that was valued at $332 million on September 30   (Probably Todd Combs or Ted Weschler)  (Note: Berkshire also has warrants to purchase 80 million shares of OXY at $62.50 per share which would result in a $5 billion stake in the company.  That resulted from a May 2019 funding deal which included $10 billion perpetual preferred stock with an 8% annual dividend) (Warren Buffett)

(2) 1.2 million shares of RH (formerly Restoration Hardware) (RH) that was valued at $206 million on September 30. (Todd Combs or Ted Weschler)

There was one major portfolio reduction during the third quarter.  Berkshire’s stake in Wells Fargo (WFC) was reduced by 7.67% or $1.58 billion. (Warren Buffett)

Berkshire’s top 5 portfolio holdings (66% of its total portfolio of $215 billion) as of September 30 were:

(1) Apple (AAPL)– $55.7 billion

(2) Bank of America (BAC) – $27.0 billion

(3) Coca Cola (KO) – $21.8 billion

(4) Wells Fargo (WFC) – $19.1 billion

(5) American Express (AXP)– $17.9 billion