10 Best Performing Warren Buffett Stocks in 2023

Published on February 19, 2023 at 9:38 am by Ramish Cheema in Hedge Funds, News

In this piece, we will take a look at the ten best performing Warren Buffett stocks in 2023. For more stocks, head on over to 5 Best Performing Warren Buffett stocks in 2023.

Warren Buffett really needs no introduction. Whether you’re familiar with the stock market or not, chances are that you have come across his name in the media at least once during your lifetime. The ‘Oracle of Omaha’ is one of the most, if not the most, renowned investors in the world and one whose patient approach of building wealth over decades of holding investments after carefully picking out companies to invest in has no parallel in an industry where hedge funds and retail investors chase after returns on a daily basis.

His stock picking prowess has made Mr. Buffett one of the world’s wealthiest people, with a net worth of a whopping $118 billion as of February 2023 according to estimates made by Forbes Magazine. While he has been a billionaire for many years, the financial guru’s wealth has nearly doubled over the past two years — according to the same magazine, he was worth $68 billion as recently as 2020. The growth in Mr. Buffett’s fortunes is the market rewarding him for conservative stock picking, as last year’s inflationary wave combined with the Federal Reserve’s interest rate hike spree decimated risky stocks that the billionaire avoids.

He is also a centurion, and in August this year will turn 93 – making him also one of the oldest investors out there in addition to one of the most successful. Naturally, this leads to fewer public appearances by Mr. Buffett, but his investment approach is well known nevertheless particularly since countless books and articles have already covered it. He and his long time business partner Mr. Charlie Munger run Berkshire Hathaway, one of the largest holding companies in the world with interests in countless businesses such as technology, insurance, aviation, finance, energy, and retail. In his latest letter to Berkshire shareholders, published last year, Mr. Buffett talked about his friendship with Mr. Munger and the experiences that he has gained over the course of his long and fulfilling life. According to the Oracle of Omaha, teaching is one of his best experiences, and his life has provided him the opportunity to interact with students of all ages.

In his own words:

Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”

Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.

Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.

His patient approach to investment, as opposed to today’s fast paced, algorithm driven trading environment, has led to Mr. Buffett holding on to shares of companies for decades. For instance, his current portfolio reveals that the oracle’s oldest investment right continues to be The Coca-Cola Company (NYSE:KO), in which he first invested in 1988 and is on record saying that he will never sell the shares. His second oldest investment right now is in American Express Company (NYSE:AXP) – a company in which he has held a stake for almost three decades now. For more insight into the oracle’s stock picking prowess and which one of his long held stocks are doing well, you should check out 10 Best Long-Term Stocks To Buy According To Warren Buffett.

Today, we’ll take a look at how well Mr. Buffett’s portfolio is doing on the stock market. Some companies that are doing great are Floor & Decor Holdings, Inc. (NYSE:FND), Paramount Global (NASDAQ:PARA), and Nu Holdings Ltd. (NYSE:NU).

Our Methodology

We took a look at Mr. Buffett and Berkshire Hathaway’s latest stock portfolio to pick out which companies it has invested in. The year to date returns for the stocks was calculated, and the top ten were chosen.

Best Performing Warren Buffett Stocks in 2023

10. Jefferies Financial Group Inc. (NYSE:JEF)

Berkshire Hathaway’s Q4 2022 Stake Value: $14 million

Year to Date Share Price Gain as Of February 17, 2023: 19.36%

Number of Hedge Fund Holders in Q3 2022: 33

Jefferies Financial Group Inc. (NYSE:JEF) operates in the investment banking, capital markets, and asset management industries.

Mr. Buffett’s holding company owned a $14 billion stake in Jefferies Financial Group Inc. (NYSE:JEF) as of December 2022, which came in the form of 433,558 shares. During Q3 2022, 33 of the 920 hedge funds polled by Insider Monkey had also held a stake in the company.

Jefferies Financial Group Inc. (NYSE:JEF) came out with a rather interesting take on inflation in January 2023, when it shared its belief that instead of inflation, investors should focus on a disinflationary wave similar to the one in the 1980s.

Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC is Jefferies Financial Group Inc. (NYSE:JEF)’s largest investor. It owns 5.7 million shares that are worth $195 million.

Along with Paramount Global (NASDAQ:PARA), Floor & Decor Holdings, Inc. (NYSE:FND), and Nu Holdings Ltd. (NYSE:NU), Jefferies Financial Group Inc. (NYSE:JEF) is a top performing Warren Buffett stock in 2023.

9. American Express Company (NYSE:AXP)

Berkshire Hathaway’s Q4 2022 Stake Value: $22 billion

Year to Date Share Price Gain as Of February 17, 2023: 19.92%

Number of Hedge Fund Holders in Q3 2022: 68

American Express Company (NYSE:AXP) is a finance and travel company that is also one of the oldest of its kind since it was set up in 1950. The firm provides insurance, credit cards, and other services.

American Express Company (NYSE:AXP) is further increasing its focus on artificial intelligence and cloud computing, as the firm announced in February 2023 that it is using Microsoft’s technologies to streamline its customers’ expense accounting. Berkshire Hathaway held a massive $22 billion stake in the company in Q4 2022, and in the prior quarter, 68 of the 920 hedge funds surveyed by Insider Monkey had also invested in American Express Company (NYSE:AXP).

Out of these, Ken Fisher’s Fisher Asset Management is American Express Company (NYSE:AXP)’s largest investor after Mr. Buffett. It owns 14.5 million shares that are worth $2 billion.

8. Apple Inc. (NASDAQ:AAPL)

Berkshire Hathaway’s Q4 2022 Stake Value: $116 billion

Year to Date Share Price Gain as Of February 17, 2023: 21.04%

Number of Hedge Fund Holders in Q3 2022: 140

Apple Inc. (NASDAQ:AAPL) is a consumer technology firm based in Cupertino, California. The firm makes and sells smartphones, tablets, smartwatches, and other products.

Apple Inc. (NASDAQ:AAPL) came under a bit of controversy in February 2023 when it was revealed that the firm is receiving part of Google’s search revenue from the Chrome browser on Apple’s iOS software. Insider Monkey took a look at 920 hedge funds for their third quarter of 2022 investments and found out that 140 had bought Apple Inc. (NASDAQ:AAPL)’s shares.

Mr. Buffett’s Berkshire Hathaway is Apple Inc. (NASDAQ:AAPL)’s largest investor by far. It owns a massive $116 billion stake in the company – which grew by 1% during the fourth quarter. The stake is larger than the next ten hedge fund investors in Apple according to our research.

7. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Berkshire Hathaway’s Q4 2022 Stake Value: $617 million

Year to Date Share Price Gain as Of February 17, 2023: 21.4%

Number of Hedge Fund Holders in Q3 2022: 87

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is a Taiwanese firm that is the world’s largest and most advanced contract chip manufacturer. The firm makes and sells chips for big companies such as Apple, AMD, Intel, and NVIDIA.

The latest bit of news about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is also related to Mr. Buffett. The oracle’s fourth quarter of 2022 filings with the SEC revealed that he had cut his stake in the firm by a massive 87% in the quarter, just as he bought $4.1 worth of shares in the previous quarter. Given Mr. Buffett’s tendency to hold on to his stocks, the decision is creating a lot of speculation in the market.

By the end of last year’s September quarter, 87 of the 920 hedge funds polled by Insider Monkey had held a stake in the Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM).

Out of these, Ken Fisher’s Fisher Asset Management is Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s largest investor. It owns 24 million shares that are worth $1.8 billion.

6. RH (NYSE:RH)

Berkshire Hathaway’s Q4 2022 Stake Value: $630 million

Year to Date Share Price Gain as Of February 17, 2023: 22.79%

Number of Hedge Fund Holders in Q3 2022: 48

RH (NYSE:RH) is an American home furnishing retailer. The firm has stores all over the U.S., and it sells furniture, garden furnishings, and other products.

Berkshire Hathaway owned 2.3 million RH (NYSE:RH) shares as of last year’s fourth quarter, which translated into a $630 million stake. In the previous quarter, 48 of the 920 hedge funds surveyed by Insider Monkey had also invested in the firm.

RH (NYSE:RH) was left red faced in February 2023 when the firm admitted that it had incorrectly stated earnings per share for several periods stretching to the first quarter of last year. It now plans to restate the results.

RH (NYSE:RH)’s second largest investor in our database is Stephen Mandel’s Lone Pine Capital which owns 1.7 million shares that are worth $473 million.

Floor & Decor Holdings, Inc. (NYSE:FND), RH (NYSE:RH), Paramount Global (NASDAQ:PARA), and Nu Holdings Ltd. (NYSE:NU) are some of Warren Buffett’s top performing stocks in 2023.

Click to continue reading and see 5 Best Performing Warren Buffett Stocks in 2023.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on October 30, 2024 at by Inan Dogan, PhD

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