The Complete Berkshire Hathaway Portfolio

The Complete Berkshire Hathaway Portfolio

Berkshire Hathaway publishes its portfolio every quarter. Here's how Warren Buffett is investing.

To invest like Warren Buffett, start with these stocks.

Famed investor and Berkshire Hathaway (BRK.A, BRK.B) CEO Warren Buffett has become a living legend on Wall Street for his practical value investing style and his tremendously consistent track record throughout the decades. Generations of investors have emulated the “Oracle of Omaha.” Buffett bought his first stock at age 11, making a $114 investment in Cities Services in 1930. Today, Buffett has bought and sold his way to becoming the third wealthiest person in the world with a net worth of more than $80 billion. Here’s a look at every stock Warren Buffett owned in the first quarter of 2019, according to Berkshire’s May 15 SEC filing.

Apple (AAPL)

Best known for its popular Macbooks and iPhones, Apple is the largest publicly traded stock on Wall Street with a market cap of nearly $1 trillion. Apple is also a powerhouse in software, digital media and services in support of its popular devices. The Cupertino, California, company has a cash horde of $245 billion and a global iPhone installed user base of more than 900 million customers. Despite gaining more than 1,000% over the past decade, Apple still has a relatively low forward earnings multiple of 16.2.

Holdings: 249.6 million shares
Value: $47.4 billion

Bank of America Corp. (BAC)

With a market cap of more than $275 billion, Bank of America is the second-largest U.S. bank and is also Buffett’s second-largest public stock holding. Buffett acquired his stake in Bank of America in 2011 when he took a $5 billion stake in preferred BAC stock when the bank was struggling with liquidity. After teetering on the brink of collapse during the 2008 financial crisis, Bank of America is now a much lower-risk investment given its strong capital base. From a value perspective, it’s easy to see why the stock’s 9.4 forward earnings multiple appeals to Buffett.

Holdings: 896.1 million shares
Value: $24.7 billion

Wells Fargo & Co. (WFC)

Wells Fargo is one of the four largest U.S. banks. Headquartered in San Francisco, Wells Fargo has more than $1.9 trillion in assets and services one in three U.S. households. The bank has struggled with a series of legal and public relations issues in recent years stemming from overly aggressive marketing practices, but Wells Fargo recently announced the retirement of longtime CEO Tim Sloan. Buffett has stuck with Wells Fargo through its dark times, and the stock’s 9.4 forward earnings multiple suggests risk is skewed to the upside at this point.

Holdings: 409.8 million shares
Value: $19.8 billion

Coca-Cola Co. (KO)

Coca-Cola is the largest and most valuable soda brand in the world, capturing half of the global carbonated soft drink market and 44% of the U.S. market. Coca-Cola is a truly global company, generating more than 70% of its profits outside the U.S. Top brands include Coca-Cola Classic, Sprite, Fanta and Minute Maid. Buffett has been a long-time fan of Coca-Cola, first investing in the stock in 1987. Since that time, KO stock’s total return, including dividends, is nearly 4,000%. Today, KO stock pays a 3% dividend yield.

Holdings: 400 million shares
Value: $18.7 billion

American Express Co. (AXP)

American Express is a global credit card, payments and travel company headquartered in New York. Founded in 1850, American Express has been a Buffett holding since 1991. AXP stock is up nearly 500% in the past 10 years, but Buffett isn’t looking to sell anytime soon. In his annual letter to Berkshire shareholders, Buffett said American Express is one of Berkshires’ core holdings for the long haul. AXP stock trades at a reasonable forward earnings multiple of just 13.9.

Holdings: 151.6 million shares
Value: $16.5 billion

U.S. Bancorp (USB)

U.S. Bancorp is the fifth-largest commercial bank in the U.S., with $460 billion in assets. U.S. Bancorp was founded in 1929 and is headquartered in Minneapolis. USB stock has been a market laggard over the past two years, returning just 3% overall. However, the stock’s 11.2 forward earnings multiple suggest downside is limited and investors can get paid a 2.7% dividend even if the stock continues to trend mostly sideways. As of the most recent quarter, revenue, earnings per share and net profit margins were trending positively.

Holdings: 129.3 million shares
Value: $6.2 billion

JPMorgan Chase & Co. (JPM)

Buffett isn’t shy about his love for bank stocks and JPMorgan is the biggest bank stock of all, boasting a market cap of $366 billion. JPMorgan was formed via a merger between Chase Manhattan and JP Morgan in 2000. The company is a leader in investment and corporate banking, as well as asset and wealth management. Even after gaining 75% in the past three years, JPM stock still trades at just a 10.6 forward earnings multiple with a 2.8% dividend yield.

Holdings: 59.5 million shares
Value: $6 billion

Moody’s Corp. (MCO)

Moody’s is one of the major U.S. credit ratings agencies, providing research, analytical tools and financial recommendations for investors worldwide. Moody’s was founded in 1900 and is headquartered in New York. Moody’s Investors Services is the company’s credit rating agency that rates both the quality of debt and the credit quality of corporate and government institutions. Moody’s Analytics offers a range of services and tools that allow investors to quantify and manage risk in global financial markets. MCO stock is up 40% year-to-date, pushing its forward earnings multiple to 22.3.

Holdings: 24.6 million shares
Value: $4.4 billion

Bank of New York Mellon Corp. (BK)

Bank of New York Mellon operates in more than 100 global markets. The New York-based bank has $31 trillion in assets under custody and $1.7 trillion in assets under management. With its two primary business lines as investment services and investment management, the company’s stock is up 8% in the past three years and the stock trades at a forward earnings multiple of just 9.8. Like most of the other bank stocks Buffett owns, BK stock also pays a 2.6% dividend.

Holdings: 80.9 million shares
Value: $4.1 billion

Delta Air Lines (DAL)

Buffett is a big fan of airline stocks and he hasn’t limited himself to just one or two. Delta is Berkshire’s largest airline holding. Delta is headquartered in Atlanta and its 80,000 global employees manage and operate flights to more than 300 destinations on more than 700 aircraft. In addition to Atlanta, Delta’s key hubs include Amsterdam, Boston, Detroit, Los Angeles and New York. Like other airline stocks, it’s easy to see why Buffett is attracted to the valuation. DAL stock trades at a forward earnings multiple of 8.1 and pays a 2.3% dividend.

Holdings: 70.9 million shares
Value: $3.6 billion

Goldman Sachs Group (GS)

Goldman Sachs Group is the second-largest full-service U.S. investment bank behind only JPMorgan. Goldman is a market leader in mergers and acquisitions, equity underwriting and equity trading. Goldman has a $751 billion market cap, but GS stock is down 7% in the past year due to several headwinds, including legal issues with bond fund fees paid by the Malaysian government and potential fines from the U.S. Justice Department in relation to the failed “1MDB” investment fund. GS stock trades at a forward earnings multiple of just 8.

Holdings: 18.3 million shares
Value: $3.5 billion

Southwest Airlines Co. (LUV)

Southwest Airlines is the fourth-largest U.S. airline, generating $5.1 billion in revenue last quarter. Southwest’s brand targets customers looking for low-cost flights and minimal fees, and the company serves more total originating passengers than any other U.S. airline. Southwest’s hubs include Dallas, Chicago, Las Vegas, Baltimore, Phoenix and Houston. Like Delta, Southwest’s stock is an attractive value at a forward earnings multiple of just 9.6. Analysts have speculated Buffett could eventually acquire 100% ownership of one of the “big four” U.S. airlines and Southwest’s relatively small market cap could make it the ideal buyout candidate.

Holdings: 53.6 million shares
Value: $2.8 billion

General Motors Co. (GM)

General Motors is one of the world’s largest automakers, producing nearly 9 million vehicles per year. GM has a rocky past and signs suggest the current U.S. auto boom may have peaked. Fortunately, GM’s last restructuring in 2009 eliminated many of its legacy balance sheet issues and the company is now profitable. Net income in the most recent quarter was $2.1 billion. GM is refocusing its business on trucks and SUVs and is also investing heavily in electric and autonomous vehicle technology. GM stock trades at an attractive forward earnings multiple of 6.1.

Holdings: 72.2 million shares
Value: $2.7 billion

VeriSign (VRSN)

VeriSign is a domain-name registration specialist headquartered in Reston, Virginia. VeriSign provides internet security services, such as denial of service protection, iDefense security intelligence services and managed domain name security. With a forward earnings multiple of 38.6, VRSN stock isn’t the typical Buffett value stock. However, EPS was up 23.8% last quarter and rose by 80% in the fourth quarter of 2018. Buffett has always loved market leaders with strong business execution, two areas in which VeriSign excels. VRSN stock is up 337% overall in the past five years, including a 51% gain in the past year.

Holdings: 12.9 million shares
Value: $2.3 billion

DaVita (DVA)

DaVita is the U.S. leader in dialysis, operating 2,400 clinics and serving 190,000 patients. In the fourth quarter of 2018, DaVita reported 2.6% same-store treatment growth. In December, DaVita agreed to sell its DaVita Medical Group subsidiary to UnitedHealth Group (UNH) for $4.34 billion. DaVita can use the proceeds to pay down debt, increase share buybacks and even reinvest in its business. After a 26% sell-off in the past three years, DVA stock trades at a forward earnings multiple of 10.8.

Holdings: 38.5 million shares
Value: $2.1 billion

Charter Communications (CHTR)

Charter Communications is the second-largest cable TV provider in the U.S. and is the best pure-play option for investors who still see value in the traditional TV model. Facing stiff competition from streaming leaders such as Netflix (NFLX), Charter has a customer base of 16 million video subscribers, 25 million internet subscribers and 11 million phone subscribers. Charter primarily operates in New York, California, the Carolinas, Florida, Ohio and Texas. Despite fears over cord-cutting, CHTR shares are up 70% in the past five years. In the most recent quarter, revenue was up 5.9%.

Holdings: 5.7 million shares
Value: $2 billion

Liberty Sirius XM Group (LSXMK, LSXMA)

Liberty Sirius XM Group Series C and A are tracking stocks representing Liberty Media’s equity stake in Sirius XM Holdings (SIRI). Series A shares have voting rights, whereas Series C shares do not. The tracking stocks represent a 71.2% ownership stake in Sirius XM, but they also hold more than $1 billion in debt of streaming leader Pandora Media and terrestrial radio leader iHeart Media (IHRTQ). The tracking stocks trade at a deep discount to the value of their underlying assets and Sirius XM has been aggressively buying back shares of its stock.

Holdings: 31.1 million shares of LSXMK, 14.8 million shares of LSXMA
Combined value: $1.75 billion

United Continental Holdings (UAL)

United Continental Holdings operates more than 5,000 daily flights to 373 different airports on six different continents. Its primary hubs include Chicago, Denver, Houston and Los Angeles. The airline group has lagged the market in the past year on concerns about how it will perform during the next economic downturn. However, UAL stock has been the exception, soaring 26% in the past 12 months. Still, the stock is a compelling value, trading at only a 7.4 forward earnings multiple. United reported 7.1% revenue growth in the most recent quarter.

Holdings: 21.9 million shares
Value: $1.75 billion

USG Corp. (USG)

USG is a building materials manufacturer and construction company that serves both the residential and nonresidential repair and remodeling markets. USG was founded in 1902 and is headquartered in Chicago. Buffett has called his USG investment "a disappointment" and the company agreed to an acquisition by Germany’s Gebr last year at a price of $44 per share. The sale was completed in 2019, allowing Buffett to exit his position after the first quarter closed.

Holdings: 39 million shares
Value: $1.7 billion

Visa (V)

Buffett feels no need to pick a winner if he likes an entire industry. Last year, Buffett said payments are a “huge deal” worldwide and Berkshire has stakes in all the major credit card operators, as well as several smaller financial technology companies. Visa operates the largest electronic payments network in the world, including the world’s largest credit network by volume and the second-largest global debit network. Visa’s forward earnings multiple of 28.3 isn’t particularly impressive, but the credit card giant reported 8% revenue growth and 14% net income growth last quarter.

Holdings: 10.5 million shares
Value: $1.65 billion

American Airlines Group (AAL)

American Airlines Group has shrunk to Buffett’s smallest airline investment after AAL stock dropped 17% in the past year. American operates roughly 6,700 flights to 350 airports in more than 50 countries worldwide. Hubs include Charlotte, Chicago, Dallas and Los Angeles. AAL reported an aggressive $600 million in first-quarter buybacks, double the total that some analysts were anticipating for the entire year. American has the lowest forward earnings multiple of any of the “big four” airlines at just 5.7, suggesting the buyback was well-timed and potential downside is limited if the company can hit earnings targets.

Holdings: 43.7 million shares
Value: $1.39 billion

Mastercard (MA)

Along with Visa and American Express, Mastercard rounds out Buffett’s exposure to the three dominant forces in the global credit card business. The Mastercard network includes billions of customers and millions of merchants in 210 countries. Mastercard operates both the third-largest credit and debit networks by volume, according to Nilson. Mastercard has the highest forward earnings multiple of the three credit card stocks at 30.1. However, the company reported impressive 13% revenue growth last quarter. MA stock has also gained 198% over the past three years, outperforming Visa and American Express by a wide margin.

Holdings: 4.9 million shares
Value: $1.16 billion

PNC Financial Services Group (PNC)

PNC Financial Services is a U.S. regional bank headquartered in Pittsburgh, Pennsylvania. PNC has $382 billion in assets and is the sixth-largest U.S. bank by deposits. In addition to retail and business banking, the company also offers wealth and asset management services. Like the other bank stocks Buffett loves, PNC has an attractive forward earnings multiple of 11.5 and a generous 2.7% dividend. As long as the U.S. economy remains strong, bank stocks like PNC should continue to grind higher in the long term with limited downside.

Holdings: 8.6 million shares
Value: $1 billion

Costco Wholesale Corp. (COST)

Costco is a global retailer that operates more than 740 stores on a membership-based model. The stock’s 28% gain in the past year has driven its forward earnings multiple up to 31.5%. However, Costco is adding more than 20 new stores per year, its membership is consistently growing and its store traffic is on the rise. In the most recent quarter, net sales increased 7.3%. In the international market, Costco is expected to open its first location in China this year.

Holdings: 4.3 million shares
Value: $1.05 billion

Red Hat (RHT)

Buffett has historically shied away from technology stocks and one of his newest positions in software company Red Hat is a puzzling one. Red Hat is the market leader in open source hybrid cloud software solutions. It is also one of Buffett’s newest positions added in the fourth quarter of 2018. What’s strange about the position is that Buffett took the stake in Red Hat just months after he finally finished selling off his large stake in IBM Corp. (IBM). However, IBM announced a $34 billion buyout of Red Hat in late October 2018 at a price of $190 per share.

Holdings: 5.1 million shares
Value: $933 million

Amazon.com (AMZN)

By the time Berkshire invested in Amazon for the first time in 2019, the e-commerce and cloud computing giant was nearly 25 years old and valued at almost $1 trillion. The company generated 49% of all U.S. e-commerce sales in 2018 and captured 5% market share of the total U.S. retail sector last year. Amazon is also the parent company of video game streaming platform Twitch, cloud services platform AWS and grocery chain Whole Foods. AMZN stock is up more than 2,400% in the past decade.

Holdings: 483,300 shares
Value: $860 million

M&T Bank Corp. (MTB)

M&T Bank is U.S. regional bank based in Buffalo, N.Y., that has $120 billion in total assets. M&T is relatively small compared to some of the other banks Buffett owns, barely cracking the Fortune 500 at 467. M&T primarily focuses on commercial and residential real estate, and was one of only two banks in the S&P 500 not to lower its dividend during the 2007-2008 financial crisis. M&T has just 780 branches and 16,000 employees, but value investors love the stock’s 11.4 forward earnings multiple.

Holdings: 5.3 million shares
Value: $845 million

Travelers Companies (TRV)

Berkshire Hathaway wholly owns several private insurance companies, including Geico and General Re. However, Buffett also holds stakes in public insurance companies like Travelers Companies. Travelers is based in New York and is the second-largest writer of commercial property casualty insurance in the U.S. It is also the third-largest writer of personal insurance via independent agents. The company has field agents in each U.S. state and generated $28.9 billion in revenue in 2018. TRV stock is up 28% year-to-date, but it still trades at a forward earnings multiple of only 13.

Holdings: 5.9 million shares
Value: $817 million

Sirius XM Holdings (SIRI)

In addition to his stake in the Liberty Media Sirius XM tracking stock, Buffett also has a direct investment in Sirius XM. Sirius XM is a satellite radio operator that offers more than 140 channels of music and talk radio throughout the U.S. In early 2019, Sirius XM completed a $3 billion buyout of streaming radio leader Pandora Media, giving the company a large stake in both the streaming and satellite radio markets. Pandora has 70 million monthly active users and Sirius XM has 36 million paid subscribers. SIRI stock is up 42% in the past three years.

Holdings: 137.9 million shares
Value: $781 million

Teva Pharmaceutical Industries (TEVA)

After acquiring Allergan’s generic drug business back in 2015, Teva Pharmaceuticals is now the largest generic drug maker in the world. Teva stock was pounded in August 2017, dropping more than 40% in a three-day stretch when the company reported a huge earnings miss and cut its guidance and dividend. Since that time, management has been on a cost-cutting spree and has prioritized getting the company’s debt levels under control. As a result, Teva’s forward earnings multiple is down to just 3.6, and management expects the company to return to modest revenue and operating profit growth in 2020.

Holdings: 43.2 million shares
Value: $678 million

Liberty Global (LBTYA, LBTYK)

Like its subsidiary Liberty Sirius XM Group, Liberty Global has multiple share classes and Buffett is invested in both. Liberty is the largest cable TV operator in Europe, operating primarily in the U.K., Belgium and eastern Europe. LBTYA A-class shares have voting rights, but LBTYK C-class shares do not. As a result, the A-class shares trade at a slight premium, but both stocks have gained more than 27% year-to-date. Liberty’s business has been under pressure in recent years, but the pending sale of its Germany assets to Vodafone Group (VOD) could soon provide a much-needed $21.8 billion cash infusion.

Holdings: 19.7 million shares of LBTYA, 7.3 million shares of LBTYK
Combined value: $671 million

Synchrony Financial (SYF)

Synchrony Financial is a U.S. online bank based in Stamford, Connecticut, that has $106 billion in total assets. Like M&T, Synchrony is a relatively small bank compared to some of the other banks Buffett owns. Synchrony operates exclusively online with no physical branches. Synchrony specializes in private label credit card partnerships with companies like Amazon and Lowe’s (LOW), and it was previously a subsidiary of GE Capital before being spun off in 2014. Synchrony has less than 17,000 employees, but the stock’s 7.6 forward earnings multiple makes it a big winner for value investors.

Holdings: 20.8 million shares
Value: $663 million

Store Capital Corp. (STOR)

Store Capital is a real estate investment trust that specializes in the acquisition, investment, ownership and management of single-tenant net-lease real estate. As a REIT, Store Capital is an excellent source of dividend income, yielding 3.9%. In addition, Store Capital has avoided disruption to its retail tenants by strategically avoiding businesses threatened by e-commerce disruption. Its long-term leases also provide more financial stability than other REITs. Approximately 99.7% of Store’s properties are occupied, and about 75% of its tenants have investment-grade credit quality. STOR shares are up 23% in the past year.

Holdings: 18.6 million shares
Value: $623 million

Axalta Coating Systems (AXTA)

Axalta Coating Systems is the global leader in auto and industrial coatings, generating roughly $5 billion in annual revenue. Axalta is also the fourth-largest producer of coatings in the world. Although headquartered in Philadelphia, Axalta’s roots go back to Germany in 1866 when Herberts Gmbh began coating carriages before ultimately transitioning to automobiles. AXTA stock is up 28% year-to-date, but still has a reasonable forward earnings multiple of 15.8.

Holdings: 24.2 million shares
Value: $611 million

StoneCo (STNE)

StoneCo is a Brazilian financial technology company founded in 2012 that specializes in electronic payments. StoneCo claims it already has 5.5 market share in Brazil. StoneCo had an initial public offering in October, and the stock is already up more than 21% from its $24 IPO price. STNE’s 25.6 forward earnings multiple is certainly on the high side for Buffett’s portfolio. But StoneCo reported 86% revenue growth in the most recent quarter, making it one of the few growth stocks to grab Buffett’s attention.

Holdings: 14.1 million shares
Value: $582 million

Restaurant Brands International (QSR)

Restaurant Brands International is based in Ontario, Canada, and is the third-largest restaurant company in the world by total sales. The company’s franchises, including Burger King, Tim Hortons and Popeye’s, have more than 19,000 global restaurant locations, of which more than 99% are franchised. Burger King is the second-largest quick-serve hamburger chain in the world. The restaurant space has been difficult for investors in recent quarters, but leading quick-serve stocks have performed relatively well. QSR stock is up 14% in the past year.

Holdings: 8.4 million shares
Value: $549 million

Phillips 66 (PSX)

Phillips 66 is an integrated oil refiner with 2.2 million barrels per day of capacity, more than 80% of which is located inside the U.S. Despite the stock’s attractive 9.3 forward earnings multiple and 3.7% dividend yield, Buffett has been scaling down his position aggressively. As of early 2018, Buffett held more than 45 million shares of PSX stock, but he was down to just 11.8 million shares as of the most recent quarter and could be down to zero by the time Berkshire files its next 13-F disclosure form.

Holdings: 5.5 million shares
Value: $528 billion

Torchmark Corp. (TMK)

Torchmark is a life and supplemental health insurance company that focuses primarily on the low-to-middle-income market. Torchmark is headquartered in McKinney, Texas, and has about 3,100 employees. In the most recent quarter, Torchmark generated $1.12 billion in revenue, an increase of 4.5% from the previous year. While total life insurance sales were down slightly in 2018, analysts expect low single-digit growth ahead in 2019. Buffett likely appreciates the company’s stable earnings, its solid balance sheet and its free cash flow. In addition, its forward earnings multiple is just 12.7.

Holdings: 6.3 million shares
Value: $520 million

Suncor Energy (SU)

Suncor is a Canadian oil exploration and production company that produces more than 700,000 barrels of oil equivalent per day. Suncor’s production primarily comes from oil sands, but it also has a large conventional oil operation. In addition, Suncor has 461,000 barrels per day in Canadian refining capacity. SU shares are down 23% in the past year as the global oil market slump drags on. However, the stock’s 15.7 forward earnings multiple suggests further downside is limited.

Holdings: 10.7 million shares
Value: $348 million

Liberty Latin America (LILA, LILAK)

Liberty Latin America is another member of the Liberty Media family with multiple share classes. Liberty Latin America split off from its parent company in 2018 and is a pure play on the telecommunications business in Latin America and the Caribbean. The spin-off serves 6.4 million homes in the region, has 3.7 million mobile subscribers and generates annual revenue of $3.7 billion. Buffett holds both the A-class voting shares and the C-class non-voting shares.

Holdings: 2.7 million shares of LILA, 1.2 million shares of LILAK
Combined value: $77.5 million

Johnson & Johnson (JNJ)

Johnson & Johnson is a global health care company that develops and markets pharmaceutical products, medical devices and consumer health products. The company’s leading brands include Band-Aid, Neutrogena, Splenda and Tylenol. JNJ stock was pressured in 2018 amid several lawsuits alleging that the company’s popular baby powder causes cancer. JNJ settled one of those lawsuits in March, paying $29 million and admitting no wrongdoing. JNJ stock trades at a reasonable 15.4 forward earnings multiple. While negative PR always hurts, $29 million is a drop in the bucket compared to JNJ’s $3.75 billion in net income last quarter.

Holdings: 327,100 shares
Value: $45.7 million

Procter & Gamble Co. (PG)

Procter & Gamble is a blue-chip U.S. consumer products company that produces beauty, grooming, health and home care, and baby and family care products. Leading brands include Pampers, Tide, Bounty, Charmin and Gillette. Last quarter, Procter & Gamble had total sales of $16.5 billion and net earnings of $2.75 billion, an increase of 9%. PG stock’s forward earnings multiple of 24 isn’t particularly impressive, but its 2.6% dividend and relatively recession-proof business make it a popular defensive play. As recently as 2016, Buffett had a $4.3 billion stake in PG stock.

Holdings: 315,400 shares
Value: $32.8 million

Mondelez International (MDLZ)

Mondelez International is a U.S. food and beverage company headquartered in Deerfield, Illinois. Mondelez is comprised of the international snack and food brands that once belonged to Kraft Foods prior to its 2012 spinoff of its North American grocery business. Mondelez has several billion-dollar international food brands, including Belvita, Chips Ahoy, Nabisco, Oreo and Ritz. Developing markets account for about 37% of Mondelez’s total growth, providing excellent exposure to high-growth international opportunities. MDLZ stock has a 1.9% dividend and a reasonable 20.1 forward earnings multiple.

Holdings: 578,000 shares
Value: $28.8 million

United Parcel Service (UPS)

United Parcel Service provides air, sea, ground and rail logistics, freight and customs services. UPS has 444,000 employees in 220 countries. It operates a fleet of 237 airplanes and 110,000 delivery vehicles that deliver an average of 18 million daily packages. UPS has greatly benefited from the rise of e-commerce in the past 20 years, but investors are becoming increasingly concerned that Amazon’s in-house delivery business could soon eat into UPS’s volume. UPS stock trades at a forward earnings multiple of just 12.6 despite its appealing 3.7% dividend.

Holdings: 59,400 shares
Value: $6.6 million

Berkshire Hathaway's complete portfolio:

  • Apple (AAPL)
  • Bank of America Corp. (BAC)
  • Wells Fargo & Co. (WFC)
  • Coca-Cola Co. (KO)
  • American Express Co. (AXP)
  • U.S. Bancorp (USB)
  • JPMorgan Chase & Co. (JPM)
  • Moody’s Corp. (MCO)
  • Bank of New York Mellon Corp. (BK)
  • Delta Air Lines (DAL)
  • Goldman Sachs Group (GS)
  • Southwest Airlines Co. (LUV)
  • General Motors Co. (GM)
  • VeriSign (VRSN)
  • DaVita (DVA)
  • Charter Communications (CHTR)
  • Liberty Sirius XM Group (LSXMK, LSXMA)
  • United Continental Holdings (UAL)
  • USG Corp. (USG)
  • Visa (V)
  • American Airlines Group (AAL)
  • Mastercard (MA)
  • PNC Financial Services Group (PNC)
  • Costco Wholesale Corp. (COST)
  • Red Hat (RHT)
  • Amazon.com (AMZN)
  • M&T Bank Corp. (MTB)
  • Travelers Companies (TRV)
  • Sirius XM Holdings (SIRI)
  • Teva Pharmaceutical Industries (TEVA)
  • Liberty Global (LBTYA, LBTYK)
  • Synchrony Financial (SYF)
  • Store Capital Corp. (STOR)
  • Axalta Coating Systems (AXTA)
  • StoneCo (STNE)
  • Restaurant Brands International (QSR)
  • Phillips 66 (PSX)
  • Torchmark Corp. (TMK)
  • Suncor Energy (SU)
  • Liberty Latin America (LILA, LILAK)
  • Johnson & Johnson (JNJ)
  • Procter & Gamble Co. (PG)
  • Mondelez International (MDLZ)
  • United Parcel Service (UPS)

Click Here To See More