While the stock market struggled to build momentum at the beginning of this year, Warren Buffett stayed true to his philosophy and continued to invest in his favorite companies. Courtesy of a new filing, we now have a peek at how the Oracle of Omaha deployed capital in the first-quarter.
Many institutional investment managers recently filed their mandatory 13-F with the Securities & Exchange Commission. The filing is a quarterly report of equity holdings required by managers that oversee more than $100 million in qualifying assets and must be filed within 45 days of the end of each quarter. The 13-F provides a glance at what firms did in the previous quarter, but investors should keep in mind that hedging and trading strategies of each fund are still unknown.
Berkshire Hathaway (NYSE:BRKA) made several changes during the first three months of the year. The company raised its stakes in Wal-Mart (NYSE:WMT), U.S. Bancorp (NYSE:USB), International Business Machines (NYSE:IBM), and DaVita Healthcare Partners (NYSE:DVA). There was also a new position in Verizon Communications (NYSE:VZ) worth $524.4 million. However, Berkshire Hathaway reduced its positions in General Motors (NYSE:GM), DIRECTV (NASDAQ:DTV), and Phillips 66 (NYSE:PSX).
Berkshire Hathaway’s biggest investments include some of the most popular blue chips known to Wall Street. Here’s a look at Berkshire’s top ten holdings, according to dollar value at the end of March. This list does not include Buffett’s option to purchase 700 million shares of Bank of America (NYSE:BAC) at any time prior to September 2021 for $5 billion.