Warren Buffett's 10 biggest holdings
Clayton Homes
Finance and financial products represents the smallest sector within Berkshire's holdings. It includes two rental companies — XTRA (trailers) and CORT (furniture) — and Clayton Homes, the leading producer and financer of manufactured homes in the U.S.
Note: Buffett points out that Clayton is included in this sector because it owns and services 332,000 mortgages, worth $13.7 billion, made largely to lower and middle-income families. He adds that the loans have performed well, even throughout the housing collapse. This performance, Buffett writes, validates "our conviction that a reasonable down payment and a sensible payments-to-income ratio will ward off outsized foreclosure losses, even during stressful times." Clayton produced 25,872 manufactured homes last year, up 13.5% from 2011.
Source: Berkshire Hathaway annual shareholder letter
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