巴菲特持倉簡況2017Q3

牛經滄海

11/15/2017

 

截至9/30/2017 （最新報告數據），巴菲特持倉45支股票，其中前4倉位占50%，前10占80%，前20占93%，前30占98%。可見輕重緩急區分明顯，綱舉目張。

 

巴菲特重倉一覽Top Positions

Symbol	Curr Price ($)	Sector	Market Cap ($B)	Shares (x1000)	Value ($mm)	Port. (%)	Delta QoQ (%)	% of Company
WFC	54.04	Financial Services	266	464,232	25,602	14.41	-0.8	9.4
KHC	79.38	Consumer Defensive	97	325,635	25,253	14.21		26.7
AAPL	171.34	Technology	880	134,093	20,666	11.63	3.0	2.6
KO	47.43	Consumer Defensive	202	400,000	18,004	10.13		9.4
BAC	26.24	Financial Services	274	679,000	17,206	9.68	New	6.5
AXP	93.76	Financial Services	81	151,611	13,715	7.72		17.5
PSX	92.83	Energy	47	80,690	7,392	4.16		15.9
IBM	148.89	Technology	138	37,027	5,372	3.02	-31.5	4.0
USB	51.83	Financial Services	86	85,063	4,559	2.57		5.1
MCO	143.14	Financial Services	27	24,670	3,434	1.93		12.9

 

 

巴菲特前十持倉以金融服務為主（WFC, BAC, AXP, USB, MCO），兼顧必須消費（KHC, KO,），科技（AAPL其實是消費品，IBM是服務），及能源（PSX）。

 

 

持倉行業分布

巴菲特持倉集中在金融服務（41.4%），必須消費（24.9%），及科技（15.4%），其他行業明顯低配。整體看來十分保守穩健。

Sector	Port (%)	Count
Financial Services	41.4	12
Consumer Defensive	24.9	7
Technology	15.4	3
Industrials	5.2	6
Energy	4.2	1
Consumer Cyclical	3.2	6
Communication Services	2.3	6
Basic Materials	1.7	3
Healthcare	1.4	3
Real Estate	0.3	1

 

持倉變動

三季度共有8個變動。最大一筆是由Warranties行權買進BAC，其實算不得是真正的變動，隻是持有形式變更。IBM減倉31.5%才是真正的大動作。其他交易分別是微減WFC,略加AAPL, 減倉CHTR，加倉MON,及SYF, 出清WBC.

Symbol	Curr Price ($)	Sector	Market Cap ($B)	Shares (x1000)	Value ($mm)	Port. (%)	Delta QoQ (%)	% of Company
WFC	54.04	Financial Services	266	464,232	25,602	14.41	-0.8	9.43
AAPL	171.34	Technology	880	134,093	20,666	11.63	3.0	2.61
BAC	26.24	Financial Services	274	679,000	17,206	9.68	New	6.51
IBM	148.89	Technology	138	37,027	5,372	3.02	-31.5	4
CHTR	336.81	Communication Services	84	8,489	3,085	1.74	-10.1	3.41
MON	118.05	Basic Materials	52	8,873	1,063	0.6	10.3	2.02
SYF	32.56	Financial Services	25	20,803	646	0.36	19.1	2.66
WBC	143.55	Consumer Cyclical	8	0	0		Sold Out

 

持倉一覽

Symbol	Curr Price ($)	Sector	Market Cap ($B)	Shares (x1000)	Value ($mm)	Port. (%)	Delta QoQ (%)	% of Company
WFC	54.04	Financial Services	266	464,232	25,602	14.41	-0.8	9.43
KHC	79.38	Consumer Defensive	97	325,635	25,253	14.21		26.72
AAPL	171.34	Technology	880	134,093	20,666	11.63	3.0	2.61
KO	47.43	Consumer Defensive	202	400,000	18,004	10.13		9.39
BAC	26.24	Financial Services	274	679,000	17,206	9.68	New	6.51
AXP	93.76	Financial Services	81	151,611	13,715	7.72		17.47
PSX	92.83	Energy	47	80,690	7,392	4.16		15.92
IBM	148.89	Technology	138	37,027	5,372	3.02	-31.5	4
USB	51.83	Financial Services	86	85,063	4,559	2.57		5.13
MCO	143.14	Financial Services	27	24,670	3,434	1.93		12.91
CHTR	336.81	Communication Services	84	8,489	3,085	1.74	-10.1	3.41
BK	51.85	Financial Services	53	50,230	2,663	1.5		4.91
LUV	53.75	Industrials	32	47,659	2,668	1.5		8.03
GS	237.24	Financial Services	89	10,960	2,599	1.46		2.91
DAL	48.9	Industrials	35	53,110	2,561	1.44		7.45
GM	43	Consumer Cyclical	61	60,000	2,423	1.36		4.22
DVA	54.66	Healthcare	10	38,566	2,290	1.29		21.04
AAL	45.81	Industrials	22	47,000	2,232	1.26		9.82
UAL	57.2	Industrials	17	28,212	1,718	0.97		9.52
VRSN	111.17	Technology	11	12,953	1,378	0.78		13.14
LSXMK	40.37	Consumer Cyclical	14	31,091	1,302	0.73		9.25
USG	34.24	Basic Materials	5	39,002	1,273	0.72		27.57
V	111.98	Financial Services	255	10,562	1,112	0.63		0.46
MON	118.05	Basic Materials	52	8,873	1,063	0.6	10.3	2.02
MTB	160.71	Financial Services	24	5,382	867	0.49		3.58
SIRI	5.35	Consumer Cyclical	25	137,916	761	0.43		3
COST	171.44	Consumer Defensive	75	4,333	712	0.4		0.99
LBTYA	29.35	Communication Services	24	20,181	684	0.39		2.46
MA	149.95	Financial Services	159	4,935	697	0.39		0.47
AXTA	31.79	Basic Materials	8	23,324	675	0.38		9.57
SYF	32.56	Financial Services	25	20,803	646	0.36	19.1	2.66
LSXMA	40.48	Consumer Cyclical	14	14,860	623	0.35		4.42
QSR	64.81	Consumer Cyclical	15	8,438	539	0.3		3.55
TMK	85.18	Financial Services	10	6,354	509	0.29		5.5
STOR	26.02	Real Estate	5	18,622	463	0.26		9.8
LBTYK	28.34	Communication Services	23	7,347	240	0.14		0.9
SNY	44.65	Healthcare	113	3,906	194	0.11		0.15
VRSK	91.11	Industrials	15	1,563	130	0.07		0.95
WMT	91.09	Consumer Defensive	272	1,394	109	0.06		0.05
GHC	550.85	Consumer Defensive	3	108	63	0.04		1.95
LILA	22.04	Communication Services	4	2,715	65	0.04		1.59
JNJ	139.49	Healthcare	375	327	43	0.02		0.01
LILAK	22.06	Communication Services	4	1,284	30	0.02		0.75
PG	88.87	Consumer Defensive	225	315	29	0.02		0.01
MDLZ	42.53	Consumer Defensive	64	578	24	0.01		0.04
UPS	114.07	Industrials	98	59	7	0		0.01
VZ	44.22	Communication Services	180	928	46
WBC	143.55	Consumer Cyclical	8	0	0		Sold Out

 

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This material has been prepared by牛經滄海@2017. This document is for information and illustrative purposes only and does not purport to show actual results. 牛經滄海shall not have any liability for any damages of any kind whatsoever relating to this material. You should consult your advisors with respect to these areas.