The billionaire’s Berkshire Hathaway Inc. has boosted its stake in the tech behemoth by as much as 55 percent, to a stake comprised of 15.2 million shares, worth $1.5 billion, in what Reuters said was a concentrated bet on consumer favorites, such as iPhones and iPads.
The Buffett move, as contrarian as so often it is, stands in stark contrast to moves by fellow investing giants, such as George Soros and Carl Icahn, who cut their own respective stakes. In fact, the mixed sentiments all came on the same day. The news of the Buffett additions to the Apple position came on the same day the news broke that Soros Fund Management and Leon Cooperman’s Omega Advisors sold their own holdings in the name.
The same regulatory filing that showed Berkshire boosted its stake in Apple showed that the investment firm cut its own position in Walmart by slightly more than a quarter, with the most recent holdings standing at 40 million shares, down from 55.2 million shares. That might stand as an eyebrow-raiser, given the fact that the retailer has been in the company’s portfolio for a decade.
Reuters cautioned that it is unknown who has been the ultimate trigger-puller behind the aforementioned actions, especially the Apple stake — whether it was the decision of Buffett or one of his portfolio managers. However, the newswire said that Buffett handles the larger investments, while other portfolio managers maintain the smaller positions.
