Berkshire Hathaway Confirms Warren Buffett's Apple, IBM Moves
May 15 2017 - 6:20PM
Dow Jones News
By Nicole Friedman
Berkshire Hathaway Inc. sharply increased its holding of Apple
Inc. and sold some of its stake in International Business Machines
Corp. in the first quarter, according to a new securities
filing.
Berkshire Chairman Warren Buffett had previously announced these
changes in media appearances.
The Monday filing with the Securities and Exchange Commission
confirmed that Berkshire more than doubled its Apple holdings in
the first quarter to 129 million Apple shares, worth $18.6 billion,
as of March 31.
While Mr. Buffett is famously shy about investing in technology
companies, he has said that Apple sells consumer products that he
can understand.
Berkshire also sold 21% of its IBM stake in the first quarter.
Mr. Buffett told CNBC earlier this month that Berkshire had sold
about one-third of its IBM holdings, suggesting that the rest of
the sale took place in the second quarter.
Berkshire first bought IBM in 2011. Mr. Buffett said this month
that he was wrong in his evaluation of the company.
Berkshire also adjusted its airline holdings in the quarter,
adding to its shares of American Airlines Group Inc. and Southwest
Airlines Co. while reducing its stake in Delta Air Lines Inc. and
leaving its holding of United Continental Holdings Inc.
unchanged.
Berkshire bought stakes in all four airlines in 2016, a surprise
vote of confidence from Mr. Buffett, who had long criticized the
airline industry as a money-loser for investors. Berkshire's total
stake in the four airlines stood at $9.2 billion as of March 31,
from $9.3 billion at year-end.
Berkshire also sold off its stake in 21st Century Fox Inc., the
filing showed.
Write to Nicole Friedman at nicole.friedman@wsj.com
(END) Dow Jones Newswires
May 15, 2017 18:05 ET (22:05 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Berkshire Hathaway (NYSE:BRK.A)
Historical Stock Chart
From Aug 2024 to Sep 2024
Berkshire Hathaway (NYSE:BRK.A)
Historical Stock Chart
From Sep 2023 to Sep 2024