Friday, Buffett reported he and his two portfolio managers, Ted Weschler and Todd Combs, bought one new holding and added to only two others in the second three months of the year, before the acquisition of Precision Castparts (PCP, Financial).
They also only sold out of two stocks, which were both oil: Phillips 66 (PSX, Financial) and National Oilwell Varco (NOV, Financial).
Berkshire Hathaway (BRK.A, Financial)(BRK.B, Financial) deployed $37.2 billion of its cash hoard to acquire Precision Castparts (PCP, Financial), leaving Buffett’s company with $40 billion in cash, which may slow spending for a while.
“…I like to have a lot of cash at all times,” he told CNBC Monday. “This means we have to reload over the next 12 months or so.”
Berkshire listed 49 holdings valued at $107.1 billion at quarter-end, predominantly from the Financial Services sector at 44.5%, followed by Consumer Defensive at 23.2% and Technology at 12.8%.
The new second-quarter buy was Axalta Coating Systems Ltd. (AXTA, Financial) and the two increases were: U.S. Bancorp (USB, Financial) and Charter Communications Inc. (CHTR, Financial).
Axalta Coating Systems Ltd. (AXTA, Financial)
Berkshire purchased 20 million shares of new holding Axalta Coating Systems Ltd., a 0.62% portfolio weight. The shares cost $33 each on average in the second quarter.
Axalta Coating Systems Ltd. was incorporated on Aug. 24, 2012. Axalta Coating Systems Ltd. has a market cap of $7.18 billion; its shares were traded around $30.38 with and P/S ratio of 1.63.
Charter Communications Inc. (CHTR, Financial)
Berkshire increased its stake in Charter Communications Inc. 1.36% to 8,514,678 shares of Charter Communications Inc., a 1.36% portfolio weight. Shares cost $180 each on average in the second quarter.
Charter Communications Inc. was organized as a Delaware corporation in 1999. Charter Communications Inc. has a market cap of $20.14 billion; its shares were traded at around $179.82 with and P/S ratio of 2.11. Charter Communications Inc. had an annual average earnings growth of 52.20% over the past five years.
Berkshire increased its position in U.S. Bancorp 3.45% to 85,063,167 shares, a 3.45% portfolio weight. The shares cost $44 each on average in the second quarter.
U.S. Bancorp was incorporated in Delaware in 1929. It is a multi-state financial services holding company headquartered in Minneapolis, Minnesota. U.s. Bancorp has a market cap of $80.3 billion; its shares were traded at around $45.60 with a P/E ratio of 14.56 and P/S ratio of 4.10. The dividend yield of U.S. Bancorp stocks is 2.17%. U.s. Bancorp had an annual average earnings growth of 1.90% over the past 10 years.
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