As 2022 wrapped, Warren Buffett’s Berkshire Hathaway was the largest shareholder of eight stocks that include traditional oil companies and financial-services giants.
“Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses,” Buffett, 92, wrote in his annual letter.
Buffett noted that last year there were 128 companies in the S&P 500
that earned more than $3 billion in profits — and Berkshire was the largest shareholder in eight of these businesses: American Express
and Bank of America
Berkshire is also the dominant holder of Chevron
and Occidental Petroleum
continuing a Buffett pledge in favor of fossil-fuel
ownership even as other parts of Berkshire dips into alternatives.
Further, Buffett’s Berkshire holds the largest stake in Coca-Cola
and Paramount Global
Coca-Cola and American Express may be among the standout stories for Buffett’s long investing run; he spent $1.3 billion on each stake some 30 years ago, and Berkshire’s holdings are now worth $25 billion and $22 billion, respectively.
Read: Warren Buffett Muses on Berkshire’s Future, Taxes, and Friendship
“The lesson for investors: The weeds wither away in significance as the flowers bloom,” Buffett wrote. “Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.”
Buffett also noted buybacks at AmEx and Apple
(AAPL) — Berkshire’s largest position at the end of last year — increased the company’s ownership in each name.
“The math isn’t complicated: When the share count goes down, your interest in our many…