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Berkshire Hathaway bought 3 new shares in the 3rd quarter, sold these others| Investor’s Business Daily

Warren Buffett’s Berkshire Hathaway (BRKB) bought shares from Taiwan Semiconductor (TSM) for the first time during the third quarter bear market, while dumping Retail capital (BIG) hero.


What Warren Buffett bought, sold in Q3

Buffett-led Berkshire picked up roughly 60 million shares of Taiwan Semiconductor worth more than $4.1 billion, according to Berkshire’s latest 13F filed late Monday, as tracked by

In October, Taiwan Semi, also known as TSMC, the world’s largest contract chip maker, delivered a beat-and-raise in the third quarter, defying weakness in the chip sector. TSM shares rose 9.6% to 80.89 on the stock market today, extending last week’s rally above the 50-day moving average.

Besides Taiwan Semi, Berkshire Hathaway opened positions in Louisiana Pacific Ocean (LPX) and Jefferies Financial Group (JEF) during the bear market in the third quarter. Berkshire bought 5.8 million shares of Louisiana Pacific, a maker of wood building products, worth nearly $297 million. It bought approximately 433,000 shares of Jefferies Financial Group, a global investment banking and capital markets company, worth $12.8 million.

LPX stock rose 9.7% to 64.54 on Tuesday, rising above its 200-day moving average. JEF shares rose 2.9% to 37.91 on Tuesday.

During the third quarter, Berkshire increased existing holdings in several stocks: i Occidental Petroleum (OXY) by 22%; Paramount Global (PARA) by 16%; RH (RH), formerly Restoration Hardware, with 8%; Celanese (CE) by 6%; and Chevron (CVX) by 2%. The conglomerate bought 35.8 million more shares in OXY stock, 12.8 million more shares in PARA stock and 3.9 million more shares in CVX stock.

While exiting Store Capital last quarter, Berkshire reduced existing holdings in several stocks: i US Bancorp (USB) by 55%; Bank of New York Mellon (BK) with 14%; Activision Blizzard (ATVI) with 12%; General Motors (GM) by 5%; and Hooks (KR) by 4%.

On September 15, Store Capital, a real estate investment trust, or REIT, announced that it is being acquired by GIC, a global institutional investor, and funds managed by Oak Street, in an all-cash deal valued at $14 billion.

Berkshire’s third-quarter earnings report on Nov. 5 had already revealed that Buffett was a net buyer of stocks, including OXY shares, during a volatile third quarter. But investors had been waiting for the 13F filing, which came Monday after the market closed, to learn more about which stocks Buffett bought and sold last quarter.

The S&P 500 index ended Q3 in a bear market for the second quarter in a row.

Top Berkshire Hathaway Stock Holdings

In the third quarter, Berkshire held several top holdings in Warren Buffett’s Dow stock-heavy portfolio steady, according to a 13F filing late Monday.

The conglomerate’s largest shareholding by market value is apple (AAPL), with the stake worth a whopping $123.66 billion at the end of September. But Bank of America ( BAC ) is the No. 1 stock by number of shares outstanding, with AAPL stock at No. 2 by that metric. In addition, American Express (AXP), Cola (KO) and Kraft Heinz (KHC) ranks among Buffett’s largest stock holdings by number of shares.

A smaller but notable holding is Amazon (AMZN). Berkshire maintained positions in each of these stocks last quarter.

Warren Buffett has a long-term track record of beating the market with his picks. The Berkshire boss has earned a reputation as a buy-and-hold investor, holding stocks for years or decades. The company has held AAPL stock since Q1 2016 and KO stock since Q1 2001, for example.

Investors track Berkshire’s 13F filings to see where the investment legend is putting his money to work in the stock market. A new stock purchase in Warren Buffett could send the shares of the company soaring.

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In Q3, Warren Buffett’s stock purchases exceeded stock sales by $3.7 billion, including $2 billion invested in OXY stock. Berkshire Hathaway also bought back $1.05 billion of its own stock.

Amid the volatility in the third quarter, Berkshire recorded a loss of $10.5 billion on equity investments. Meanwhile, cash holdings grew from $105.4 billion at the end of June to $109 billion at the end of September.

So far in 2022, Berkshire has increased the pace of investment activity. It notably increased its energy investment following the February 24 Russian invasion of Ukraine, which disrupted global oil and gas supplies. In 2021, Berkshire Hathaway mostly played defense as the stock market marched higher.

Class B shares of Berkshire stock rose 1.4% to 313.07 on the stock market today. Apple shares rose 3.2% to 153.02.

Find Aparna Narayanan on Twitter at @IBD_Aparna.


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