Berkshire Hathaway Hikes Its Share In Apple

Warren Buffett’s Berkshire Hathaway has said it has increased its stake in Apple by 55%, boosting its bet on theiPhone and iPod maker even as prominent investors like George Soros and Carl Icahn shed theirs.

It is to be noted that Berkshire owned 15.23 million Apple shares worth $1.46 billion as of June 30, up from 9.81 million shares as of March 31, according to a regulatory filing from Buffett’s Omaha, Nebraska-based conglomerate.

The filing also said Berkshire cut its stake in Wal-Mart Stores, the world’s largest retailer, by 27% to about 40.23 million shares from 55.24 million. Walmart has been in Berkshire’s portfolio for more than a decade.
The company owned more than $133 billion of equities as of June 30. Buffett is typically responsible for larger investments such as Walmart, while his deputies handle smaller investments.

Berkshire also owns roughly 90 businesses including Geico car insurance, the BNSF railroad, Dairy Queen ice cream, Duracell batteries, and Fruit of the Loom underwear. It also paid $32.1 billion in January for aircraft and industrial parts makerPrecision Castparts Corp, Buffett’s largest purchase.

Share prices often rise when investors perceive that Berkshire has given them its imprimatur, including the 3.7% one-day boost that Apple got in May after Berkshire unexpectedly revealed it had taken a stake.

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