In Q1 2023, Buffett grew his two largest stock holdings: Apple (AAPL) and Bank of America (BAC). AAPL stock is the No. 1 holding in Berkshire's Dow stocks-heavy portfolio by market value. It is the No. 2 holding by number of shares, behind BAC stock.
Buffett's Berkshire broadly tuned its exposure to bank stocks during the quarter, amid turmoil in the banking center. Notably, the conglomerate bought Capital One Finance (COF) for the first time. At the same time, Berkshire sold off its remaining stake in Bank of New York Mellon (BNY) and U.S. Bancorp (USB), continuing a trend of dumping several bank stocks of late.
Berkshire also exited Taiwan Semiconductor (TSM), an Apple chip supplier. Taiwan Semi, also known as TSMC, is the world's largest contract chipmaker. Investing legend Buffett has grown wary of the possibility of China invading Taiwan.
Among other key Q1 moves, Berkshire grew its hefty position in HP (HPQ) by 15% and in Occidental Petroleum (OXY) by 8%. It slashed a stake in oil major Chevron (CVX) by 18%, according to Berkshire's latest quarterly 13F filing, as tracked by whalewisdom.com.
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