Buffett Confirms Sale Of 389 Million Apple Shares In Q2

Warren Buffett has offered more details about the stocks he has been selling lately, including confirming that he sold more than 389 million Apple shares during the second quarter, Josh Funk reported for the Associated Press (AP).

In addition to the significant Apple sale, Berkshire has also been trimming its investments in Bank of America, Chevron, Capital One, Floor & Decor Holdings, T-Mobile, and Louisiana Pacific recently. I Illustration: danor shtruzman Flickr

Berkshire Hathaway still owns 400 million shares of the iPhone maker, so it remains the largest position in the conglomerate’s stock portfolio, according to the company’s latest filing with the Securities and Exchange Commission (SEC).

The news that Buffett had unloaded a substantial portion of Apple stock emerged in Berkshire’s earnings report earlier this month, but the exact number of shares sold wasn’t clear until Wednesday.

In addition to the significant Apple sale, Berkshire has also been trimming its investments in Bank of America, Chevron, Capital One, Floor & Decor Holdings, T-Mobile, and Louisiana Pacific recently.

Berkshire also unloaded its nearly $1 billion Snowflake investment. As a result of all the selling, Berkshire’s already massive cash pile has ballooned to a record level of $277 billion.

However, Berkshire did reinvest some money into the insurer Chubb and oil producer Occidental Petroleum, while revealing smaller new investments in aerospace parts maker Heico Corp. and cosmetics retailer Ulta Beauty.