Here's What Buffett's Berkshire, Other Funds Bought And Sold In Q3

Here's What Buffett's Berkshire, Other Funds Bought And Sold In Q3

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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