Funds That Buy Like Buffett 2016
Like the Oracle of Omaha, these funds prefer to buy and hold quality businesses.
Yes, it's that time of year again. On Saturday, April 30, Warren Buffett and Charlie Munger will convene the annual Berkshire Hathaway (BRK.B) shareholder meeting in Omaha. That means it's also time for our annual look at mutual funds with the biggest holdings in the stocks held in Berkshire's investment portfolio. Buffett has become one of the most legendary and successful investors of all time by buying high-quality businesses at low prices and holding them for the long term, so it's always interesting to see which funds are interested in the same stocks he is.
As usual, Buffett and Munger will conduct business and answer questions on Saturday for tens of thousands of shareholders and fans (40,000 attended last year), and this year they'll also live-stream the whole affair for those who can't be there in person. One of the main topics of conversation will be Berkshire's 2015 results, which were somewhat mixed, in keeping with last year's crazy market. On the one hand, the stock performed significantly worse than the broader market, losing 12%, its fifth-worst annual showing in the past 50 years. On the other hand, Berkshire's per-share book value, Buffett's preferred metric for evaluating the health of its businesses, grew 6.4%, better than the 1.4% rise in the S&P 500 benchmark, following three-straight years in which Berkshire's book value grew slower than the S&P.
David Kathman does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.
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