May 152017

In an SEC 13F filing after the market closed today, Berkshire Hathaway reported several major changes in its portfolio, including a $20 billion position in Apple (129 million shares at closing price of $155.70) and a large reduction in its investment in IBM, both of which were revealed earlier.  Berkshire also disclosed a 50%, or $500 million, increase in its stake in Bank of New York Mellon, as well as the elimination of its $250 million position in 21st Century Fox.  There were also minor changes made to its almost $10 billion investment in the four major U.S. airlines (American, Delta, Southwest, and United Continental).

I was quoted in a Bloomberg article on these portfolio changes:

“Buffett has an overall optimistic outlook for the economy and the stock market,” said David Kass, a professor at the University of Maryland’s Robert H. Smith School of Business who has taken students to meet the investor. “This is consistent in that direction.”

 Posted by at 10:59 pm

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