Warren Buffett: Berkshire Hathaway, the company of Warren Buffett, the world’s largest investor, has bought 1.79 crore shares of Google’s parent company Alphabet Inc. in the third quarter, while Bank of America Corp. and Apple Inc. are continuously reducing their stake. This was revealed at a time when his long innings of 60 years as CEO is about to end soon.
Major reshuffle in Berkshire’s investment portfolio
In a regulatory filing submitted to the US Securities and Exchange Commission, Berkshire said that as of September 30, it owned 17.85 crore shares of Alphabet, which were worth $4.9 billion at the market close on Friday.
Meanwhile, Berkshire has reduced its stake in iPhone maker Apple from 28 crore shares to 23.82 crore shares in the third quarter. This reduction has been going on for several quarters, due to which he has sold almost three-fourths of the more than 90 crore shares he already held. However, despite this, Apple is the largest part of Berkshire’s stock portfolio with $60.7 billion.
Sold all the shares of this company
Along with this, Berkshire Hathaway also sold 37.2 million shares of Bank of America, whose stake has now reduced to only 7.7 percent. However, it is still Berkshire’s third largest shareholding. Berkshire Hathaway has sold all its shares in American home builder DR Horton Inc. That means their investment in the company is now zero.
Company looking for investment opportunities
95-year-old Buffett is going to retire from the post of CEO of Berkshire Hathaway at the end of this year. During this time, he is looking for investment opportunities to utilize his company’s cash reserves of $382 billion. Recently, it has agreed to buy the petrochemical unit of Occidental Petroleum Corporation for $9.7 billion and has also acquired a stake of $1.6 billion in UnitedHealth Group Inc.
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