> Warren Buffett Blog: Warren Buffett buys more Apple, Airlines and sells IBM

Wednesday, May 17, 2017

Warren Buffett buys more Apple, Airlines and sells IBM

Buffett recently disclosed that Berkshire sold off one-third of its 81 million IBM shares and bought about 133 million Apple shares.

The filing showed Berkshire added to its investments in American Airlines Group Inc. and Southwest Airlines Co. in the quarter. Its United Continental Holdings Inc. stake was unchanged, and its Delta Air Lines Inc. stake was reduced to 55 million from 60 million shares.

Berkshire held 49.3 million American shares at the end of March, up from 45.5 million. Its Southwest stake grew to 47.7 million from 43.2 million.

Buffett first disclosed his airline investments last fall, surprising many because he had long been critical of the industry. He has invested in all the major airlines now because he believes the industry is much healthier now and flying with planes at least 80 percent full most of the time.

Berkshire sold off nearly 9 million shares in Twenty-First Century Fox, the parent company of the 20th Century Fox movie studio and Fox News Channel, which has been hit by allegations of discrimination and harassment.