May 15 proved an exciting day for traders and stock market enthusiasts in general as numerous prominent investors disclosed the state of their portfolios – with all their most recent buys and sales – as of the end of the first quarter.
Few of the filings are as exciting and interesting as those covering the holdings of one of the most successful investors in history, the Oracle of Omaha, Warren Buffett.
His updated portfolio contains the stocks of 41 companies and is worth over $331 billion.
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Buffett’s largest holdings – Apple (NASDAQ: AAPL), Bank of America (NYSE: BAC), American Express (NYSE: AXP), Coca-Cola (NYSE: KO), Chevron (NYSE: CVX), and Occidental Petroleum (NYSE: OXY) – account for approximately 75% of the value with AAPL remaining the single largest holding at 40.81%.
During the first quarter of 2024, Warren Buffett also made a string of new purchases with few proving as immediately impactful as the investment in Chubb Ltd. (NYSE: CB).
Buffett invests $6.7 billion in Chubb
One of the largest new positions revealed by the latest 13-f is the $6.7 billion investment in Chubb Ltd. Chubb is a Swiss-incorporated U.S. firm that provides insurance products covering all types of mishaps.
Though CB is a substantial 11.27% in the green year-to-date (YTD) and its price, at the latest close, stood at $252.97, it is noteworthy that the bulk of the rise took place in the initial weeks of 2024 and subsequent trading was mostly, ultimately, sideways and offered much volatility.
What makes the situation particularly interesting is that the news of Buffett’s investment sent CB stock rocketing 9.27% in the extended session by the time of publication – though, for a time, it was more than 11% in the green.
Given that Chubb Ltd price today, following the after-hours action, stands at $276.43, the Oracle of Omaha ended up helping propelling the stock to a new all-time high (ATH).
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