August 26, 2022

Buffet Keeps on Buyin

 Berkshire, the conglomerate owned by billionaire Warren Buffett, now holds a stake worth $125 billion in Apple. The tech giant accounts for about 40% of Berkshire’s total stock portfolio. In addition to the Apple shares, Berkshire also bought 22 million shares of Occidental and 2.3 million shares of Chevron, putting a larger stake on its bet on U.S. oil this year. The company also enhanced its stakes in Ally Financial and Paramount Global, the article details. On the flip side, Berkshire sold off the last of its holdings in Verizon and Royalty Pharma PLC. It also reduced its stakes in General Motors, U.S. Bancorp, and the grocery chain Kroger. And the company did not open any new positions in the second quarter.

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