Buffett Buys More Apple Shares While Splurging On Oil
Warren Buffett’s company bet more on high-tech darling Apple during the second quarter, while also investing billions in old-school oil producers Occidental Petroleum and Chevron, Josh Funk reported for the Associated Press (AP).
Photo Insert: Berkshire’s biggest single investment got a bit bigger during the quarter because it bought nearly 4 million more Apple shares, giving it 894.8 million shares of the iPhone maker.
Berkshire Hathaway detailed all its second-quarter investments Monday in a new filing with the Securities and Exchange Commission (SEC.) Wall Street follows Berkshire’s investments closely because of Buffett’s remarkably successful track record over the decades.
Berkshire had already disclosed its biggest move in the quarter — investing $1.4 billion in oil producer Occidental Petroleum — because that investment’s size required more immediate updates.
Berkshire now owns more than $11 billion worth of Occidental stock, and it controls more than 20% of the company after making several more purchases since the quarter ended on June 30.
But Monday’s filing revealed a number of smaller moves Berkshire made during the second quarter, including adding to its stakes in Apple, Chevron, Ally Financial, Activision Blizzard, Paramount Global, and several other stocks.
Berkshire also trimmed its holdings in General Motors, US Bancorp, and Kroger stocks while eliminating a stake in Verizon Communications. Although Berkshire was active during the second quarter, it didn’t do nearly as much as it did in the first three months of the year when it invested $51 billion in an assortment of stocks.
Berkshire’s biggest single investment got a bit bigger during the quarter because it bought nearly 4 million more Apple shares, giving it 894.8 million shares of the iPhone maker.