In its Form 13F filing released after the market closed today, Berkshire Hathaway reported that it sold approximately 30% of its stake in IBM (NYSE:IBM) for about $2.5 billion, and purchased an additional $600 million of Apple (NASDAQ:AAPL) during the third quarter of 2017. The sale of 17 million shares of IBM were at an approximate price of $150 per share, which was below Berkshire’s average cost of $170 per share.
Berkshire also increased its positions in Monsanto (NYSE:MON) and Synchrony Financial (NYSE:SYF) by about $100 million each.
Berkshire also decreased its stake in Charter Communications (NASDAQ:CHTR) by about $300 million and Wells Fargo (NYSE:WFC) by about $175 million.
Incredible Tax Breaks: How Economic Opportunity Zones Work (Special Report)
This is the first part of a multi-part series on Economic Opportunity Zones. The tax-efficient zones were brought in as part of the Tax Cuts and Jobs Act of 2017 to try and stimulate economic activity in underdeveloped regions. Q2 2020 hedge fund letters, conferences and more The following articles will cover the benefits Read More