Warren Buffett’s multi-billion-dollar conglomerate Berkshire Hathaway increased its stake in Apple by 55 percent as of June 30. Berkshire owned 15.23 million Apple shares worth US$1.46 billion as of June 30, up from 9.81 million shares as of March 31.
Berkshire meanwhile cut its stake in the World’s largest retailer Wal-Mart Stores by 27.2 percent, about 40.23 million shares from 55.24 million, stake now worth $2.9 billion. Wal-Mart has been in Berkshire’s portfolio for more than a decade.
The company also slashed its stake in Deere by 5.7 percent and in oil and gas company Suncor Energy by 25.8 percent.
READ; Buffett’s speech at Columbia Business School in 1984 “The Superinvestors of Graham & Doddsville”
Apple’s stock has been on a tear lately, rising about 21 percent over the past three months.
Sources; BNN, CNBC, Kenyan wallstreet
