Here are Warren Buffett's 15 biggest investments
- Warren Buffett's annual letter was released Saturday.
- In it he listed Berkshire Hathaway's 15 biggest investments by market value.
- Watch Berkshire Hathaway trade live.
Warren Buffett's annual letter was released Saturday, and in it he listed Berkshire Hathaway's 15 biggest investments by market value.
Buffet said he and Berkshire Hathaway Vice Chairman Charlie Munger don't view the names as a "collection of ticker symbols - a financial dalliance to be terminated because of downgrades by 'the Street,' expected Federal Reserve actions, possible political developments, forecasts by economists or whatever else might be the subject du jour."
Instead, they see them as "an assembly of companies that we partly own and that, on a weighted basis, are earning about 20% on the net tangible equity capital required to run their businesses" without employing excessive debt.
Buffett called those returns "remarkable" and said they are "truly mind-blowing when compared against the return that many investors have accepted on bonds over the last decade - 3% or less on 30-year U.S. Treasury bonds, for example."
Below are Berkshire's 15 largest holdings ranked from smallest to largest market value at the end of 2018 (Note, Kraft Heinz, of which Berkshire owns 325,442,152 shares, is not included, because the conglomerate is part of a control group and must account for the investment on the "equity" method. Berkshire's Kraft investment has a cost basis of $9.8 billion and market value of $14 billion.):
% of company owned: 8.1%
Cost: $1.195 billion (R16 trillion)
Market value: $1.837 billion (R25 trillion)
% of company owned: 31%
Cost: $836 million (R11 billion)
Market value: $1.851 billion (R16 trillion)
% of company owned: 3%
Cost: $1.21 billion (R16 billion)
Market value: $1.935 billion (R27 trillion)
% of company owned: 8.7%
Cost: $2.005 billion (R28 trillion)
Market value: $2.226 billion (R31 trillion)
% of company owned: 4.9%
Cost: $2.38 billion (R33 billion)
Market value: $3.138 billion (R43 trillion)
Delta Air Lines
% of company owned: 9.6%
Cost: $2.86 billion (R40 billion)
Market value: $3.27 billion (R45 billion)
% of company owned: 12.9%
Cost: $248 million (R3 billion)
Market value: $3.455 billion (R48 trillion)
Bank of New York Mellon
% of company owned: 8.8%
Cost: $3.86 billion (R54 billion)
Market value: $3.977 billion (R55 trillion)
% of company owned: 1.5%
Cost: $5.605 billion (R78 trillion)
Market value: $4.946 billion (R69 trillion)
% of company owned: 9.1%
Cost: $5.548 billion (R77 trillion)
Market value: $6.688 billion (R93 trillion)
% of company owned: 17.9%
Cost: $1.287 billion
Market value: $14.452 billion
% of company owned: 9.4%
Cost: $1.299 billion (R18 trillion)
Market value: $18.94 billion (R265 billion)
% of company owned: 9.8%
Cost: $10.639 billion (R148 trillion)
Market value: $22.423 billion (R311 trillion)
Bank of America
% of company owned: 9.5%
Cost: $11.650 billion (R163 trillion)
Market value: $22.642 billion (R316 trillion)
% of company owned: 5.4%
Cost: $36.044 billion (R503 trillion)
Market value: $40.271 billion (R563 trillion)
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