Warren Buffetts stocks outperforming the SP 500 in 2024

While newer types of investors, such as Roaring Kitty from the GameStop meme stock craze, have gained popularity, traditional investing legends like Michael Burry and Warren Buffett continue to capture the attention of stock market enthusiasts. Their stock picks have proven to be highly successful in 2024, showcasing their expertise in the field.

Taking into account Warren Buffett’s remarkable track record, Finbold decided to examine three of his stock picks that have significantly outperformed the S&P 500 index since the beginning of the year.

Louisiana-Pacific Corp (NYSE: LPX) emerged as the third best-performing Warren Buffett stock in 2024, with a substantial 29.03% increase in its share price. However, analysts are cautious about its future growth potential, giving it a ‘neutral’ rating on TradingView. Despite this, the stock still has the potential to rise by 2.38% if it reaches its overall price target.

Next, Davita Inc (NYSE: DVA), a kidney dialysis service provider, secured the second spot in Warren Buffett’s portfolio in 2024 with an impressive 33.95% rise in its share price. Like LPX, experts are uncertain about its growth prospects for the remainder of the year, giving it a ‘neutral’ rating. Nevertheless, the average price target suggests a potential increase of 2.02%.

The top-performing Warren Buffett stock in 2024 is Nu Holdings Ltd (NYSE: NU), a Brazilian neobank based in Sao Paulo. With a remarkable 45.52% surge in its share price since the start of the year, Nubank has captured the attention of analysts who are cautiously optimistic about its future. The stock is rated as a ‘buy’ on TradingView, with a conservative forecast of a 3.48% upside.

Despite Nubank’s success and Buffett’s early investment in the company, it only represents 0.4% of the renowned investor’s portfolio. This demonstrates Buffett’s diversified investment strategy and ability to identify promising opportunities in the market.