Buffett and Berkshire Hathaway certainly are not giving up on Apple. The company s stock will continue to be Berkshire Hathaway s biggest equity investment. Yet, the $1 billion in profits that Buffet and company took will help pay for new stakes Verizon, Marsh & McLennan and Chevron purchased confidentially in the third quarter of 2020 for around $8 billion.
Berkshire Hathaway may not want any longer to keep more than 40% of its equity holdings in Apple stock. And it s not because Buffett and his top investment managers think the stock is going to sink.
Selling off small pieces of its stake in Apple gives Berkshire Hathaway funds to invest in other equities, although the firm still concentrates on investments in established, mostly non-high-tech firms. Buffett also has trimmed investments in some banks, including long-time favorite Wells Fargo, and beefed up investments in health care stocks like Bristol-Myers Squibb and Merck, while selling his remaining stake in Pfizer.
Warren Buffett: Buffett s Berkshire snaps up record $24 7 billion of own stock
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Buffett s Berkshire snaps up record US$24 7B of own stock
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