Home Value Investing Berkshire Adds $500 Million to Apple Stake and Subtracts $1 Billion from...

Berkshire Adds $500 Million to Apple Stake and Subtracts $1 Billion from Wal-Mart Holding

In a SEC 13F filing after the market closed on August 15, Berkshire Hathaway reported a 55% increase (about $500 million) in its Apple stake and a 27% reduction (about $1 billion) in its Wal-Mart holding.   The Apple investment was likely made by Warren Buffett’s portfolio managers, Todd Combs or Ted Weschler.  Wal-Mart has been an investment of Warren Buffett since 2005.

I am quoted in a Bloomberg article on these portfolio changes:

“Apple’s stock came down substantially in the second quarter,” David Kass, a professor at the University of Maryland’s Robert H. Smith School of Business who has taken students to meet Buffett, said in a phone interview. “Value investors always like the price to go down because it gives them an opportunity to buy more.”

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David I Kass Clinical Associate Professor, Department of Finance Ph.D., Harvard University Robert H. Smith School of Business 4412 Van Munching Hall University of Maryland College Park, MD 20742-1815 Phone: 301-405-9683 Email: dkass@rhsmith.umd.edu (link sends e-mail) Dr. David Kass has published articles in corporate finance, industrial organization, and health economics. He currently teaches Advanced Financial Management and Business Finance, and is the Faculty Champion for the Accelerated Finance Fellows. Prior to joining the faculty of the Smith School in 2004, he held senior positions with the Federal Government (Federal Trade Commission, General Accounting Office, Department of Defense, and the Bureau of Economic Analysis). Dr. Kass has recently appeared on Bloomberg TV, CNBC, PBS Nightly Business Report, Maryland Public Television, Business News Network TV (Canada), Fox TV, American Public Media's Marketplace Radio, and WYPR Radio (Baltimore), and has been quoted on numerous occasions by Bloomberg News and The Wall Street Journal, where he has primarily discussed Warren Buffett and Berkshire Hathaway. He has also launched a Smith School “Warren Buffett” blog. Dr. Kass has accompanied MBA students on trips to Omaha for private meetings with Warren Buffett, and Finance Fellows to Berkshire Hathaway’s annual meetings. He is an officer of the Harvard Business School Club of Washington, DC, and is a member of the investment and budget committees of a local nonprofit organization. Dr. Kass received a Smith School “Top 15% Teaching Award” for the 2009-2010 academic year.

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