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Why Warren Buffett's Berkshire Hathaway is a hot stock pick for millennials

When it comes to investing, it appears 89-year-old Warren Buffett is still hip with millennials.The Oracle of Omaha’s Berkshire Hathaway landed on millennials’ top 10 list of investments in the fourth quarter of 2019, according to new research from the clearing house Apex Clearing.

To be sure, they’re buying the less expensive Berkshire Hathaway Class-B stock (BRK-B), which currently trades at around $200 per share, compared to Berkshire’s Class-A shares (BRK-A), which have traded at or near $300,000 per share for the last two years.

The Apex Q4 Millennial 100 report analyzed more than 734,000 investment accounts owned by U.S.-based investors with an average age of 31.

"It's been exciting to see how millennials’ investing habits have shifted over the past year," Bill Capuzzi, CEO of Apex Clearing tells Yahoo Finance. "From responding to key market moves, showing a keen interest in recent IPOs, and investing based on their values, millennials have proved to be a unique audience differing from their generational counterparts.”

One mantra seems to hold true across generations: Invest in what you know. Millennials’ portfolios heavily favor young, tech-focused companies. In fact, the Apex Millennial 100 features more than 30 companies which made their public trading debuts within the last decade, including Tesla (TSLA), Facebook (FB), Alibaba (BABA), Shopify (SHOP), and Square (SQ).

That’s not to say other generations are not investing in these companies, just not to the same extent. For example, Roku (ROKU) ranks number 26 for millennial investors but comes in at number 45 for boomers and number 89 for the silent generation, those born before baby boomers (roughly from the mid-1920s to the mid-1940s). 

Apple (AAPL) was the No. 1 stock held by millennials in the fourth quarter, with the stock making up an average 13.5% of holdings, according to Apex, followed by Amazon (AMZN), Tesla, Facebook, and Microsoft (MSFT). Rounding out the top 10 stocks held by millennials were Berkshire Hathaway, Disney (DIS), Netflix (NFLX), Advanced Micro Devices (AMD), and Alibaba.

Alexis Christoforous is a Yahoo Finance reporter and co-anchor of “The First Trade.” Follow her on Twitter @AlexisTVNews. 

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