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Buffett Raised Bets on U.S. Bancorp and Goldman Sachs in Q3 2018

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Nov. 15 2018, Updated 10:15 a.m. ET

Buffet’s Berkshire Hathaway in Q3 2018

So far in this series, we’ve looked at Warrant Buffet’s investment firm, Berkshire Hathaway’s (BRK.A)(BRK.B), top five investments in the third quarter. While Apple (AAPL) remained Berkshire’s top holding, Bank of America (BAC) and Wells Fargo (WFC) were its biggest banking-sector holdings. Now let’s take a look at Berkshire Hathaway’s other key banking-sector (IYF) investments.

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More shares of U.S. Bancorp

American Express (AXP) was the sixth-most-valuable holding for Berkshire Hathaway with a $16.15 billion stake, compared to 14.86 billion in the second quarter. BRK didn’t add any new shares of AXP last quarter.

In contrast, Berkshire Hathaway bought about 24.23 million new shares of U.S. Bancorp (USB) in the third quarter, which brought its total to 124.92 million shares. The investment firm’s stake value in USB grew by $6.60 billion in the third quarter from $5.04 billion in the previous quarter. USB was the seventh-most-valuable holding for BRK in the third quarter.

More money in Goldman Sachs

Berkshire added about 5.10 million new shares of Goldman Sachs Group (GS) to its portfolio to bring its total holding in the bank to 18.35 million shares. Berkshire Hathaway’s stake in Goldman Sachs rose 40.8% to $4.12 billion in the third quarter. Goldman Sachs was the ninth-most-valuable holding for BRK in the third quarter.

Note that GS stock has lost 20.5% in 2018 so far as of November 14 while AXP and USB have risen 8.5% and 0.8%, respectively, year-to-date.

In the next final part of this series, we’ll look at a new addition of JPMorgan Chase (JPM) to Buffett’s Berkshire Hathaway portfolio.

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