Market Commentary

What is Warren Buffet Doing?

Warren Buffet Stock

It is always interesting to see what Warren Buffet is doing with the cash of his Berkshire Hathaway company. In a release yesterday after the market closed, he announced a number of buys and sells from his portfolio of stocks.

He bought a lot of telecom and oil stocks and cut his Apple computer position. Granted, he only cut it by 6% to leave Berkshire with 887 million Apple shares so I don’t think it was a comment on the stock but most likely taking a little profit on a stock that ran up fast in price.

He increased his positions in ABBV by 20%, Bristol Myers by 11%, and Merck by 28%. He doubled his stake in T-Mobile to 5.2 million shares and Verizon by 146.7 million shares. He bought a new position in Chevron and hiked his Kroger stance by 23%. He cut Wells Fargo by 59% and Suncor Energy by 28%.

He made other moves but these were the significant changes in Berkshire’s lineup.