Warren Buffett, also known as the Oracle of Omaha, can look back on numerous successes in his investing career. But even the investor legend sometimes gets it wrong.
• Warren Buffett also makes investing mistakes
• Buffett had $313 billion invested in Q3 2023
• Bank of America and Chevron are among the biggest losers in Buffett’s portfolio
Berkshire Hathaway’s biggest bad investments
Over the course of his career, the investor can look back on some great successes. But the Oracle of Omaha has also had to accept some setbacks. For example, he told Berkshire Hathaway’s annual shareholder meeting last year that he had missed out on some promising investments in recent years. But not only missed opportunities, but also some mistakes, Buffett admitted. For example, he classified the purchase of the shoe company Dexter Shoes, the purchase of ConocoPhillips shares in the middle of the oil and gas price boom and his investment in the British supermarket chain Tesco as bad investments.
Portfolio in 2023
In the third quarter of 2023, Warren Buffett’s investment holding Berkshire Hathaway invested around $313 billion, according to its 13F form. Its total portfolio grew by about $14 billion so far this year. The top 10 holdings made in Q3 91.93 percent of the entire portfolio, meaning his largest positions have a significant impact on his portfolio. Apple occupies by far the largest position in the portfolio at around 50 percent (156,753,093,002 shares). The smallest stock positions in the investor legend’s portfolio include Sirius XM Holdings, Nu Holdings, Liberty Latin America Ltd Class A, Liberty Latin America Ltd Class C and StoneCo.
Most recently, Buffett also completely removed seven stocks from his portfolio. The investor sold shares in UPS, Johnson & Jonshon, Procter & Gamble, General Motors and Celanese Corp. and Mondelez International as well as the securities of Activision Blizzard, which are no longer listed on the stock exchange.
Warren Buffett made a mistake with these investments in 2023
Buffett, like many other investors, suffered some of the biggest losses this year through his exposure to bank stocks. As Investors Business Daily (IBD) reported back in March, his long-standing penchant for financial stocks cost him a lot of money. Six of the 15 worst performers in Buffett’s portfolio in the first few months of this year came from the financial sector. According to IBD, Bank of America is one of the biggest losers in Buffett’s portfolio. In the third quarter of 2023, Buffett held 1,032,852,006 shares in the US bank. His stake in the financial institution cost him around $2.23 billion this year. The stock position, which Berkshire Hathaway has continuously expanded since 2017, had already fallen by a full 12.8 percent by March in 2023. It has now narrowed the loss to 6.52 percent (as of December 1, 2023). The reason for this was the banking crisis, which shook up the entire market landscape at the beginning of the year.
Falling oil prices also affected his stake in oil giant Chevron over the course of the year. Overall, Chevron shares have fallen by 19.32 percent this year (as of December 1, 2023). Buffett, who holds 110,248,289 shares in the oil company, has so far lost around $3.8 billion. However, the company recently attracted attention with the takeover of competitor Hess, which now gives Chevron access to 30 percent of the total estimated recoverable reserves of eleven billion barrels of oil equivalent in Guyana. In the future, Buffett could benefit from the profits of the Chevron-Hess merger if the value of Chevron shares increases or the company returns them to shareholders through dividends or share buybacks.
Editorial team finanzen.net
– On our own behalf –
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