Want to emulate Warren Buffett’s investment portfolio? Here’s which ASX shares I’d buy

Warren Buffett’s Berkshire Hathaway has built an impressive investment portfolio across different industries and businesses. There are some ASX shares that are similar to some of the businesses within the US giant business and could make good investments.

There are certainly some unique businesses in the Berkshire Hathaway portfolio such as Apple and GEICO which have unlocked a lot of value for Buffett.

The US company also operates Berkshire Hathaway Energy, a business that generates and sells energy to customers. It has a very large and growing asset base of renewable energy and electricity transmission.

Furthermore, Berkshire Hathaway’s Clayton Homes builds and sells traditional site-built homes and off-site built homes, including manufactured homes and modular homes.

AGL Energy Ltd (ASX: AGL)

AGL is one of the largest energy producers and retailers in Australia, so the ASX share is fairly similar to Berkshire Hathaway Energy, though they’re not identical.

It wasn’t too long ago that the business announced that it is targeting an accelerated exit from all coal-fired generation, by the end of FY35, including an earlier closure date for Loy Yang A Power Station, up to 10 years earlier than previously announced.

The ASX share’s annual greenhouse gas emissions are expected to reduce from 40 million tonnes to net zero after achieving targeted closure.

AGL is aiming to progressively decarbonise its asset portfolio with new renewable and firming capacity. The idea is to supply customer demand with up to 12 GW of new generation and firming capacity, requiring a total investment of up to $20 billion. It wants to have up to 5GW of new renewables and firming in place by 2030.

I think Buffett would be intrigued by a potential earnings rebound in FY24 and FY25 for the company, which could mean that the AGL share price is valued at 10 times FY24’s estimated earnings and 9 times FY25’s estimated earnings, according to Commsec.

Brickworks Limited (ASX: BKW)

Brickworks doesn’t make homes itself, but it does manufacture bricks and several other building products in Australia. It also makes bricks in the US.

But, I think there are two other parts of the ASX share that Warren Buffett may find more attractive.

Brickworks owns a large chunk of Washington H. Soul Pattinson and Co. Ltd (ASX: SOL), which is an Australian conglomerate and is often described as the Australian version of Berkshire Hathaway.

The business also owns a 50% stake in a growing industrial property trust that is building massive warehouses, making stronger rental profits and achieving developments. These buildings are being built on excess Brickworks land.