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Warren Buffett’s Berkshire Hathaway sells $23 billion in Apple shares in Q3

MacDailyNews

Nov 15

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Warren Buffett’s Berkshire Hathaway again significantly reduced its holdings in Apple in the third quarter of 2024. The investment firm sold 100 million shares of Apple stock, amounting to a $23 billion divestment. This follows an earlier sale of over 500 million shares, totaling $94 billion.

GuruFocus:
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In addition to trimming its Apple holdings, Berkshire also reduced its position in Bank of America, divesting 23% of its stake for $10 billion and securing a $6 billion profit. Nevertheless, Berkshire still owns about 10% of the bank, and shareholders approved the reduction.
On the acquisition side, Berkshire made strategic moves, adding new positions in Domino’s Pizza with a $605 million purchase of 1.3 million shares, and Pool Corporation with $140 million worth of shares.
As of September 2024, Berkshire’s total equity investments amounted to $266.4 billion, reflecting a 4.9% decrease compared to the previous quarter.

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MacDailyNews Take: In May, at Berkshire’s annual meeting, Buffett praised Apple, saying it was “extremely likely” that Apple will remain Berkshire’s largest holding at the end of 2024. Berkshire continues to hold $69.9 billion worth of Apple shares.

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