Economy

Buffett Adds More Apple, Reduces IBM Stake by Another Third

In Berkshire Hathaway's third quarter earnings report, the entire base of all assets among all entities was $681.5 billion, up nearly 10% year to date. Berkshire now owns 26.7% of the outstanding shares of Kraft Heinz common stock, with a carrying value of approximately $15.7 billion at the end of September.

During the quarter, Berkshire also boosted its stake in Apple Inc 3 percent to 134.1 million shares worth $20.7 billion, and became Bank of America Corp's largest shareholder by exercising warrants for 700 million shares. Buffett invested in Bank of America in 2011 as it dealt with legal troubles related to mortgages. The fair value of all equity securities was listed as $157.65 billion in the quarterly earnings report, with more than $82.2 billion being unrealized gains. Berkshire Hathaway last held 37 million shares of IBM, a position valued at around $5.73 billion.

Warren Buffett continued to trim a once-major investment in International Business Machines Corp. while adding to newer holding Apple Inc.in the third quarter.

Berkshire is one of Wells Fargo's largest shareholders, with a almost 10 percent stake.

Berkshire cut its IBM stake 32 percent in the third quarter to about 37 million shares worth $5.37 billion from 54.1 million shares worth $8.32 billion, according to a Tuesday regulatory filing detailing its USA -listed stock holdings.

Buffett cut the Charter Communications stake by about 10%, selling 954,100 shares in the quarter.

Wabco Holdings (NYSE: WBC) was already a small stake and it no longer appears in the portfolio.



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