Berkshire Hathaway Inc. (NYSE: BRK-A) has made its quarterly filing with the Securities & Exchange Commission for its holdings as of December 31, 2014. For all practical purposes, this filing is a fresh representation of Warren Buffett’s 2015 stock holdings — with many big changes!
As a reminder, well over half of Buffett’s and Berkshire Hathaway’s total equity holdings are still concentrated in just four stocks: Wells Fargo & Co. (NYSE: WFC), International Business Machines Corp. (NYSE: IBM), Coca-Cola Co. (NYSE: KO) and American Express Co. (NYSE: AXP). Another issue to consider is that some of the investments in key companies are no longer held in public stocks. Berkshire Hathaway invested $3 billion in 2009 into preferred shares of Dow Chemical Co. (NYSE: DOW), and it invested $5 billion for preferred shares and warrants in Bank of America Corp. (NYSE: BAC) in 2011.
Key changes seen for 2015 were in common shares of Deere & Co. (NYSE: DE) due to an amended filing, while ConocoPhillips (NYSE: COP) was eliminated. Express Scripts Holding Co. (NASDAQ: ESRX) and Exxon Mobil Corp. (NYSE: XOM) also were both eliminated. Restaurant Brands International Inc. (NYSE: QSR) was listed as a new stake.
24/7 Wall St. has changed the order of the full 2015 holdings to represent the key four largest positions first, and the second page includes all the remaining holdings. That is also where the changes are recorded in share count and in new and eliminated holdings.
American Express Co. (NYSE: AXP) was again roughly the same number at more than 151 million shares. This number of shares has been static for years. Here is the Bull and Bear Case for American Express in 2015, with a projected 7.2% gain.
Coca-Cola Co. (NYSE: KO) was yet again the same stake of around 400 million shares. Buffett’s stake in Coca-Cola has remained static for years. Here is the Bull and Bear Case for Coca-Cola in 2015, with an expected 7.2% gain.
International Business Machines Corp. (NYSE: IBM) was HIGHER AGAIN at 76.971 million shares. This was against 70.478 million shares last quarter and 70.173 million shares previously. Here is the Bull and Bear Case for IBM in 2015, with an expected 7.8% gain.
Wells Fargo & Co. (NYSE: WFC) was the again same stake again at 463.458 million shares. Buffett used to add to the stake every quarter but his stake has reached a peak after years of growing.