Buffett's firm buys Apple, slashes chipmaker and bank stakes
Billionaire Warren Buffett's company added to its already substantial Apple investment at the end of last year while slashing a new investment in computer chip maker Taiwan Semiconductor and two longtime bank holdings.
Berkshire Hathaway Inc. revealed several changes to its stock portfolio in documents filed with the Securities and Exchange Commission Tuesday. Many investors follow the company's moves closely because of Buffett's remarkably successful investing record over the decades.
Berkshire picked up nearly 21 million more shares in the iPhone maker during the final three months of last year to give it 915.6 million shares at the end of 2022.
Buffett has called Apple one of the four giants that drive Berkshire's results even though it is only a stock investment. Berkshire's other main drivers are companies that it owns outright: its insurance unit that includes Geico, its energy company that owns several major utilities, and BNSF railroad.
During the quarter, Berkshire slashed its investments in Taiwan Semiconductor, US Bancorp and Bank of New York Mellon.
Just three months after revealing a 60 million-share stake in the chipmaker, Berkshire cut its Taiwan Semiconductor investment down to 8.3 million shares.
Berkshire also cut its US Bancorp investment drastically from 52.5 million shares to 6.7 million by the end of the year.
Berkshire Hathaway cut its investment in Bank of New York Mellon again and sold off more than 37 million shares during the quarter to leave it with just over 25 million shares of the bank.
The quarterly filings Berkshire submitted Tuesday don't make clear which investments Buffett is responsible for and which ones were made by the company's two other investment managers, but Buffett generally handles
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