Warren Buffett turned Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) into a trillion-dollar company primarily by investing in stocks. “That preference won’t change,” Buffett wrote in his most recent letter to shareholders.
But Buffett has been challenged by the current market to find great value in equities. He’s sold more stocks from Berkshire’s publicly traded portfolio than he bought every quarter for nearly three straight years. As valuations continue to climb higher, there’s more reason to sell Berkshire’s biggest holdings, and fewer reasons to buy new positions with the proceeds and the company’s operating cash flow. As a result, Buffett’s seen his company’s cash position balloon to $344 billion as of the end of June.
Despite the difficult market, Buffett did find a few opportunities last quarter. Berkshire bought $3.9 billion worth of equities, including 10 publicly traded stocks disclosed in its quarterly 13F filing with the Securities and Exchange Commission (SEC). Here are all 10 of Buffett’s recent buys, including the one that looks like the best opportunity for investors right now.