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2022년 11월 13F 공시 기준으로 버크셔(버핏)는 TSMC 신규 매수 등 포트폴리오를 일부 조정했고, 멍거·스피어·몬니시·리우 등은 대체로 보유 유지, 노버트 로우·롭 비날도 소폭 조정이 있었다는 13F 분석 영상임. 버크셔 해서웨이: 애플 약 41.9%로 최대 비중이며 BoA 2위. 셰브론 약 2% 추가, 옥시덴털 추가 매수, 액티비전 블리자드 약 12% 감축(마이크로소프트 인수 차익거래 성격으로 해석), TSMC 신규 편입(시가 40억 달러 이상, 비중 1.3%), 방크 오브 뉴욕 멜런·US뱅코프 감축, 크로거·GM 감축, 파라마운트 추가, 스토어캐피털 전량 매도. BYD 지분은 감축 중이라는 기사 언급. 다니엘 저널(찰리 멍거): 미국 포트폴리오 변동 없음. 알리바바 약 14.5%, BoA·웰스파고 합산 약 80%. 가이 스피어: 미국 포트 변동 없음. 인도 에너지 거래소, ITEC 등 보유 유지. 몬니시: 마이크론 변동 없음, 브룩필드 자산운용 약 7% 신규 편입, 레인 인더스트리 지분 약 18.3% 증가. 릴루(히말라야 캐피털): 마이크론 약 33%, BoA 약 25%, 알파벳·버크셔 보유. BYD 투자 언급. 노버트 로우: 버크셔·Ally 금융 상위 보유, 위니베이고 약 13% 감축, 스미스&웨슨 약 60% 추가 매수. 컨트리사이드 파트너십은 인수 소식 언급. 롭 비날(RV캐피털): 카바나 약 37%로 확대, 트루파니온 약 12% 추가, 크레딧 어셉턴스·세일즈포스 소폭 감축. 2022년 성과 부진 언급. 출연자 전망이나 단기 가격 예측은 명시되지 않음.
다듬은 글
well another three months has passed and that means we have a brand new batch of 13f filings these are SEC regulatory filings over in the United States that have to be filed by anyone managing more than 100 million US Dollars and they basically have to disclose what stocks they own so for everyday investors like me and you what allows us to see what people like Warren Buffett and Charlie Munger and manuscript Brian guy spear have been buying and selling in the previous quarter it's a great way to generate new investment ideas and keep an eye on what some of our favorite investors are doing so in this video I want to go through some of my highlights from this 13f season and have a look through what some of these super investors have been buying and selling so if you do enjoy the video be sure to subscribe for future content as well but without further Ado let's get straight into the video now let's kick things off here with the goat that of course is Warren Buffett at Berkshire Hathaway and as usual a few things to keep in mind when we look at the Berkshire 13f now if we look at the largest positions in the portfolio here those are almost certainly going to be Warren Buffett Investments but we have to keep in mind there are a couple of other money managers at Berkshire Todd Combs and Ted Whistler actually just recently did a video on Todd Combs if you're interested in that and basically any smaller positions will be more likely to be tied and Todd Investments I think combined they manage a little more than 30 billion dollars at this point maybe 15 to 17 billion each somewhere in that range so if we see for example uh 1 billion or one and a half billion dollar investment that's probably roughly a 10 position for Ted or Todd but anything north of that thresholders almost certainly Warren Buffett now looking first off at the top 10 Holdings for Berkshire we actually saw a few changes so looking from top to bottom and again keeping in mind that Berkshire has quite a top heavy portfolio Olio the Apple position alone is currently 41.9 percent of the portfolio gets obviously much smaller as we work down the last year but Apple Remains the largest position with no change a Bank of America is number two with no change Chevron is one of the two oil companies that Warren Buffett has been buying a lot of in 2022 and in the latest quarter we saw a small ad to Chevron of about two percent next up we have Coca-Cola and American Express two positions that have been in the portfolio for decades at this point and again no change there but we did again see Warren Buffett continue to buy Occidental the second Oil stock that he's been buying a lot of in 2022 I've done a full breakdown video on Warren Buffett's Occidental Petroleum purchase and have gone into a few of the more intricate details with that one so if you're interested in checking that out and hearing about uh the warrants and other deals that Buffett has done around Occidental definitely check that out but we saw continued purchasing and this one is pretty much as expected we've been seen not only 13 if filings from buffer to rounders purchases of Occidental but we actually also see form four filings which is basically anytime you own more than 10 percent of all the shares outstanding you have to file any purchases or sales publicly and within a couple of days so that's one that we've known about for a little while but interesting to see Buffett continue to buy some of these very large oil and gas companies now continuing to work through the top 10 here we next see Kraft Heinz and Moody's with no change but we actually see a couple of changes in position nine and ten so firstly we've got Activision Blizzard trimmed about 12 that's a little bit of a tricky one to interpret because I know that um one of the smaller managers Ted and Todd owns Activision and also Warren Buffett owns Activision so who exactly is trimming that and I don't know Activision is looking like it may get bought out by Microsoft and Buffett spoke at the annual meeting about how this is essentially a bit of an Arbitrage opportunity or a workout as he called it between the current price of Activision and the price at which Microsoft is looking to buy out the shareholders so he can potentially capture a small gain there so interesting Sim trimnet about about 12 and probably the biggest move of the entire 13f filing for Buffett and Berkshire is a brand new position in Taiwan semiconductor it's immediately in the top 10 positions it's got a market value over four billion dollars so likely a buffered investment here unfortunately I don't have too many insights on Taiwan semiconductor but that is a brand new stock in the Birch portfolio and as I understand it it's the first time it's ever been owned by Berkshire okay looking at some of the other changes in the portfolio here and keep in mind we're now starting to get into some pretty small positions even though Taiwan semiconductor for example is a top 10 investment it's only 1.3 percent of the portfolio because those very largest positions represent a big chunk of the pie for Berkshire but uh nonetheless continuing to work down some more changes at the smaller end of the portfolio we saw a couple of sales of different bank stocks so Bank of New York melon was trimmed 14 U.S Bancorp was trimmed 31 continuing down the list we've got Kroger trimmed four percent uh Paramount Global added to about 16 General Motors trimmed five percent seleness Corp which I don't even know if I'm saying that correctly I believe that was purchased in the portfolio last quarter as well and we've had another small edition of about six percent uh rho Restoration Hardware was added to eight percent I believe that's likely a Ted wishlist stock just um with his with his background and everything um that would be my guess there but we don't know for sure we have a brand new position in Louisiana Pacific Corp another brand new position and Jeffrey's Financial Group and finally we had one complete sale in the Berkshire 13f this quarter which was a 100 complete exit of store Capital Corp previous to this quarter was only a 0.06 percent position so a small holding but nonetheless that was sold completely now as well as the regular 13f updates I'm also going to jump over to Ticker which actually shows us some International regulatory filings so this isn't guaranteed to show us every International holding that a company might have have that wouldn't show up on a 13f but if it's triggered some sort of other International filing it should show up in ticker so for example if Berkshire would have purchased five percent of a Japanese company that triggers a regulatory filing in Japan and that actually happened for Berkshire specifically a couple of years back so jumping over to Ticker just to look for any of the potential International activity that may have been picked up there's really nothing significant to report um however if we go to one of berkshire's subsidiaries Berkshire Hathaway Energy company we actually saw that this is the subsidiary in which Berkshire holds its byd investment and there's been some news articles out recently about Berkshires starting to trim that holding after quite a substantial period of time and a massive gain in the portfolio again I've done a video on lead loose investment in byd where I covered a bit of berkshire's performance in that stock as well but I'll put some numbers up on the screen here just to show you that Berkshire has been trimming that byd holding okay moving next to Warren Buffett's right hand man of course Charlie Munger who's 13f we can see via the Daily Journal Corporation he does manage the portfolio for DJ Co and it's one that's got a lot of attention in the past maybe year and a half mainly because this is the portfolio in which we saw a Charlie Munger purchase into Alibaba and there was quite a bit of activity for a few consecutive quarters there for Charlie Munger specifically around Alibaba but for the past few quarters now he's been really going back into classic Charlie Munger mode of just uh sitting back and letting the businesses do their thing and we saw that really just continue on this quarter so we saw no activity at all in the U.S portfolio if we look through the five Holdings that show up for the Daily Journal Corporation we have Bank of America and Wells Fargo which combined make up a little over 80 percent of the U.S Holdings we see Alibaba at about 14 and a half percent U.S Bank corporate about three and a half percent and then a small little position less than half percent in Pasco and looking over at the international filings on ticker we don't see anything show up here I do believe that the Daily Journal Corporation has had a position in byd as well for a long period of time but they're a pretty modest size uh holder relative to the overall size of the company so not large enough to trigger any sort of regulatory filing so we don't get too much insight into what Charlie Munger has or hasn't been doing with that byd position so Charlie really getting back to what he's known for and that's been the master of doing nothing and moving to someone else who's starting to get a reputation for being the master of doing nothing let's talk about guy Spear of aquamarine Capital now again in classic guy spear fashion we see absolutely no uh action in the portfolio at all if we look through the top few positions in the US portfolio we see Butch Hathaway American Express Bank of America MasterCard and Ferrari and I'll put a screenshot up here of some of the other positions that you see in the portfolio but no purchases no sales guy spear just sitting back and letting the compound into its thing looking internationally for guys spear we do see a couple of additional Holdings Indian energy exchange and itec a b and again I believe guy sphere is a significant owner in byd but not significant enough to trigger a regular true filing so that doesn't show up in ticket here but with the two stocks that do both in India no change there at all moving along now to a good friend of guy Spears and that is minus propri we do see some activity for monus this quarter we actually see a brand new stock and has 13f filey now if you look at the 13 Infamous for Brian it can be potentially a little misled eating because it only previous to this quarter showed two stocks now that we have an additional one in there we've seen three stocks in the US portfolio which would lead you to believe that minus propriet is extremely extremely concentrated in his portfolio and although he is a concentrated investor he does have a lot of international Holdings so this definitely isn't the full picture but to work through here we have 92.5 of the portfolio and Micron no change in shares in the last quarter no buys or sells we see a tiny little tracker position in ceritage I was really expecting that to drop off in the last quarter or two given he sold a lot of it and has written about you know been completely out of Heritage but we see a small little thirty thousand dollar position here for monish um relative sewers roughly I think 700 million in assets and management that is uh not a lot to read into at all but the most notable thing is we've got a brand new position about seven percent of the US portfolio or about a seven million dollar position and Brookfield Asset Management which is managed by Bruce flat an investor that Monash has actually spoken about a couple of times now Brookfield is actually quite a large Diversified company with Holdings and a number of different asset classes it's about a 75 billion dollar market cap as of recording in the video so don't have a huge amount of insight into exactly why Monash might have purchased Brookfield but I do know that like I say he has a lot of admiration for what Bruce Flatt has done there and I've heard uh guy Speer talk about uh Bruce Floyd in a similar way as well now looking internationally again I don't think this is the full picture for Monash I don't think we've got all the international Holdings here but we do have a couple of additional ones and some of them do have some portfolio activity so the main one here is rain Industries that's a company that again Monash has spoken about in previous lectures he initially bought it because of effectively it was a PE of one it was extremely cheap and he's held it for quite a period of time and we saw rain Industries have an addition and shares of about 18.3 percent that is as of the end of September so a good addition there from Monash and Rain Industries and that's really all the adjustments that we see we do see some other Holdings in here with either West Financial racist Logistics Suntec Realty and nice Holdings and ticker it does show up as a sale and nice Holdings recently but that news came out quite a while back that was as of towards the end of June this year next up let's have a look at the portfolio for lilu of Himalaya capital and again leilu as channeling his inner Charlie Munger and I guess guy spear here as well and we saw no U.S portfolio activity so this is what the portfolio looks like as of the last 13 if we have Micron about 33 of the portfolio Bank of America are about 25 percent uh Google or alphabet at about 16 or 17 Berkshire at about 14 Apple at six percent and another class of Google stock at about five percent so if you add those two Google positions there you're getting uh to north of 20 of the US portfolio looking internationally we don't see anything else show up for Lilo but I am almost certain that he is another investor that owns byd and again I've done a full breakdown on lilo's byd investment here on the channel so I won't go into that in too much detail in this video but definitely go and check out that previous video only lose byd investment if you're interested now to wrap this video up I want to look at two more 13 ifs of slightly less well-known investors and the first one is Norbert Lou and I actually just recently completed a three-part series on some of Norbert Lou's best investments um in my mind he is one of the best investors in the world so I always like to pay attention to what he's doing in his 13f and again uh Norbert Lou does have some International Investments as well which we'll look at in a sec but uh in the US uh Norbert Lou did have a couple of changes which is interesting to see so we saw um Berkshire and Ally Financial Remain the two biggest positions at 47 and 32 percent of the US portfolio respectively um but down the smaller end of the portfolio we saw uh two existing stocks have some adjustments so the first one is Winnebago this is one that Norbert Lou has owned since I believe early 2019 uh he trimmed that position about 13 after adding to it a similar amount only a quarter or two ago so interesting to see a slight reversal of course with Winnebago from Norbert Lou and finally we have about a 60 add to Smith and Wesson and although it's quite a significant ad it's still only less than than three percent of the US portfolio but interesting to see Norbert Lou continue to purchase that one I'm starting to see some interesting write-ups on that company actually they seem to have spun off a more Capital intensive business uh have a more Capital light kind of high return on Capital business now and they also seem to be repurchasing a lot of shares and um that story Rhymes in many ways with Norbert Lou's investment in a Countryside Partnerships which kind of rhyme with the investment in NVR that is very well known for so possibly one to take a look at but it's a pretty modest swing I guess in the portfolio for Norbert Lou right now now looking internationally for Norbert Lou we see an additional three stocks turn up which is Naked Wines Countryside Partnerships and motorpoint group there's no recent portfolio change in any of those companies that I can see the latest report we have is for June for Naked Wines and Countryside Partnerships but I do know that literally within the last week Countryside Partnerships was actually acquired I Believe by a company called something like Vista group I will put the exact name of that company up on the screen here so I wouldn't be surprised to see either one Countryside Partnerships just drop off the portfolio here for Norbert Lew soon or potentially we see a holding in that new company because one of the options in that acquisition was for Countryside Partnerships uh holders to get shares in that acquiring company okay and final 13 if I want to look at here is Rob vanal of RV Capital again a smaller probably less well-known investor but with a great track record um in the sort of mid teens compounding over a number of years at this point but unfortunately Rob Bernal has had a really rough 2022 in terms of performance and I find it really interesting to see what these great investors are doing in times where their portfolio is not performing particularly well so looking through the 13f for Rob vanal we see uh no new positions or no positions completely exited but we did see some sort of rebalancing reallocation kind of within the portfolio so our credit acceptance and Salesforce which are the two biggest positions for Rob vanell were trimmed slightly uh Wix and meta had um very very small additions but we saw a couple of reasonably significant additions to some other positions so carvana was added to about 37 percent and trupanion was added to about 12 carvana obviously a very controversial stock at the moment and if you want to get Rob vanell's full thoughts uh just go and check out his letters those are publicly available where he talks about the underlying thesis behind carvana he did admit to making a couple of analytical errors on that one but he said given the prices come down so much he actually quite likes the odds at this point with carvana and internationally for Rob vanal I do know that he at the very least owns process I believe they're too still be true but again not a significant enough position to Warrant any regulatory filings so that is my highlights of our fresh round of 13f filings from some of my favorite super investors if you did enjoy the video be sure to subscribe for future content and let me know some of your thoughts on these recent portfolio changes down in the comment section below
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