Wednesday , May 18 2022

Berkshire Warren Buffet buys new stake in JP Morgan and increases Apple holding


Varren Buffett's Berkshire Hathavai Inc.

BRK.B, -0.87%

BRK.A, -0.92%

bought a new stake in JPMorgan Chase & Co.

JPM, -2.06%

and increased its stake in Apple Inc.

AAPL, -2.82%

at the end of September, according to submissions 13F with the Securities and Exchange Commission on Wednesday. Berkshire has bought 35.664 million JPMorgana shares, which amounted to about $ 4 billion since September 30, showing submissions, and the firm increased its stake in Apple, adding 522,902 shares, bringing the company's total share to the iPhone maker reached $ 56.994 million, according to filings . Apple's stock closed at 2.8% on Wednesday and is on the edge of the bear market, defined as a decline of at least 20% since the recent peak. The Berkshire acquisition in JP Morgan is due to the fact that the banking sector has been declining, despite an increase in federal reserve rates, which did not use the group as expected by the bulls. JP Morgan's shares fell 2.1% on Wednesday, but held up to about 0.4% for the year, making JPMorgan among the best performers among its peers. Buffett's company also increased its shares of Goldman Sachs Group Inc.

GS, -1.25%

adding 5.1 million, bringing the total value of its stake to $ 4.1 billion. Concerns about Goldman's involvement in the Malaysian scandal affected the investment bank's actions. In the meantime, Berkshire has reduced its position in vulnerable Vells Fargo Inc.

VFC, -1.12%

reducing its position by 9.6 million shares, with the investment firm's position at Vells at $ 23.25 billion. In technology, Berkshire bought a new stake in Oracle Corp.

ORC, + 0,46%

41.4 million shares worth $ 2.1 billion at the end of September. Large investors must discover long standing positions that are held at the end of the quarter 45 days later in 13F filing with the SEC. Berkshire Class A and B shares have soared by nearly 9% this year, compared with a 1.5% annual gain for the Dow Jones Industrial Average

DJIA, -0.81%

and 1.1% gain for the S & P 500 index

SPKS, -0.76%

until 2018, according to FactSet data. Nasdaq The Composite Index carries the technology

COMP, -0.90%

it is an increase of 3.4%.

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