Warren Buffett’s Berkshire Hathaway’s (BRKB) grew its stake in Bank of America ( BAC ) in the third quarter, while other top buys included Apple ( AAPL ), Synchrony Financial ( SYF ) and Monsanto ( MON ).
[ibd-display-video id=2643046 width=50 float=left autostart=true] Berkshire bought 3.9 million more shares of Apple, boosting its stake by 3% to 134.1 million, according to a regulatory disclosure on Tuesday. It slashed its stake in IBM ( IBM ) by 17.1 million shares and Charter Communications (CHTR) by just under 1 million shares. Wells Fargo (WFC), its top holding with a roughly $26 billion market value, got a haircut too.
Meanwhile, David Tepper’s Appaloosa hedge fund cut its Bank of America stake by 28% during Q3, sold out of Wells Fargo, and doubled its Apple stake.
David Einhorn’s Greenlight Capital slashed its Apple stake by 44% to 2.19 million shares, cut its stake in General Motors (GM) by 36% to 34.6 million shares and bought 3.6 million shares of Tempur Sealy (TPX).
Chase Coleman’s Tiger Global Management hedge fund offloaded Alphabet (GOOGL) shares worth $66 million. But it loaded up on other so-called FANG stocks, buying nearly $500 million worth of Netflix (NFLX), $275 million of Amazon.com (AMZN) and $229 million of Facebook (FB).
IBD’S TAKE : Banks are also poised to benefit from deregulation and more rate hikes that could come from the Federal Reserve if the economy grows under a Trump administration.
Earlier Tuesday, Jana Partners stocked up on Jack In The Box (JACK), buying 1.3 million shares in the fast-food chain.
Jana, an activist investor, had pushed for the sale of Whole Food Market, pocketing $300 million after it agreed to be acquired by Amazon.com (AMZN).
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