Buffett’s firm buys more Apple, Amazon, betting on oil

OMAHA, Neb. (AP) — Warren Buffett’s company bet big on high-tech darling Apple and e-commerce giant Amazon during the second quarter, while also pouring billions into old-school oil producers Occidental Petroleum and Chevron. has invested.

Berkshire Hathaway disclosed all of its second-quarter investment details in a new filing with the Securities and Exchange Commission on Monday. Berkshire’s investments are closely watched by Wall Street because of Buffett’s decades-long track record of impressive success.

Berkshire had already disclosed its biggest move of the quarter — a $1.4 billion investment in oil producer Occidental Petroleum — as the size of that investment required more immediate updates. Berkshire now owns more than $11 billion worth of Occidental stock, and controls more than 20% of the company after making several more purchases since the quarter ended June 30.

But Monday’s filing revealed Berkshire made several smaller moves during the second quarter, including increasing its stakes in Apple, Amazon, Chevron, Ally Financial, Activision Blizzard, Paramount Global and several other stocks. Berkshire also reduced its holdings in General Motors, US Bancorp and Kroger stocks while shedding stakes in Verizon Communications.

Although Berkshire was active during the second quarter, it did not do as much as it did in the first three months of the year when it invested $51 billion in an assortment of stocks.

Berkshire’s largest single investment got a little bigger during the quarter as it bought about 4 million more shares of Apple, giving it 894.8 million shares of the iPhone maker.

The well-known anti-tech investor group also acquired more than 10 million shares of Amazon, giving it about 10.7 million shares.

Monday’s filing does not make it clear which investments Buffett handled and which were made by two other Berkshire investors, but Buffett typically handles all large investments of more than $1 billion. Such as Apple, the company’s large stake in Bank of America, American Express and Coca-Cola stock. Berkshire officials typically do not comment on these quarterly filings.

Berkshire now owns 68.4 million Activision Blizzard shares after picking up more than 4 million shares during the quarter. Buffett has said the investment is a condition that Microsoft will go through with acquiring the video game company.

In addition to investments, Omaha, Nebraska-based Berkshire also owns more than 90 companies, including Geico Insurance, BNSF Railroad, several major utilities and an eclectic mix of manufacturing and retail companies, such as Dairy Queen and Precision Cast Parts.

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