> Warren Buffett Blog: Warren Buffett buys more Apple shares

Tuesday, August 16, 2016

Warren Buffett buys more Apple shares

The Oracle of Omaha Warren Buffett upped his stake in Apple by 61% in the second quarter of this year 2016. Berkshire Hathaway filed documents indicating that it upped its shareholding in the tech giant to 15.8 million shares, up from 9.8 million in the first quarter of 2016. Although they have rallied over the last month, Apple’s share price during Buffett’s buying spree dropped 12%.

Warren Buffett cut his number of shares in Wal-Mart Stores to 40.2 million shares from 55.2 million the prior quarter. Wal-Mart’s share price rose nearly 7% over that period.

Phillips 66
He also increased his bullish bet on oil prices going up in the longer term, raising his stake in oil company Phillips 66 to 78.8 million from 75.6 million. Phillips 66’s shares dropped 8% in the second quarter.

However, he cut his interest in fracking, reducing his interest in Canadian oil sands group Suncor Energy to 22 million from around 30 million. Suncor’s shares were down 0.3% over the course of that period.