Buffett's Berkshire Hathaway slashes IBM stake

Cornelia Mascio
Novembre 15, 2017

24/7 Wall St. tracks numerous so-called "whale watching" trades made by America's top investment managers, hedge fund managers and so forth.

In May, Buffett revealed he had begun selling IBM, telling CNBC he did not value Big Blue as highly as he did six years earlier when he started buying.

Wells Fargo was trimmed by just over 3.75 million shares.

The Berkshire Hathaway quarterly SEC filing (13F) showed the balance as more than $177 billion of September 30.

Wells Fargo & Company (NYSE: WFC) was listed as being worth $26.9 billion.

IBM, whose full name is International Business Machines Corp, accounted for most of the stock sales that Buffett and his deputies Todd Combs and Ted Weschler made in the quarter. Apple is Berkshire's third largest equity holding.

Berkshire reduced its IBM stake 32 percent in the third quarter to about 37 million shares from 54.1 million shares, according to a quarterly regulatory filing on Tuesday detailing Berkshire's USA -listed stock holdings.

The IBM share stake has fallen by 54 percent since the end of 2016, when Berkshire owned roughly 81 million shares for which it paid about $13.8 billion.

Synchrony Financial (NYSE: SYF) had previously been added as a new stake of about 17.5 million shares back in the second quarter (worth $521 million at that time), but there were another 3.34 million shares added for a stake of just over 20.8 million shares. Berkshire Hathaway last held 8.49 million shares, or a position valued at around $3.09 billion.

Monsanto Company (NYSE: MON) was a stake of 8.87 million shares, up from 8.04 million shares the previous quarter.

Wabco Holdings (NYSE: WBC) was already a small stake and it no longer appears in the portfolio.

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