Warren Buffett‘s Berkshire Hathaway bought more Apple shares before their latest jump to all-time highs.
Berkshire also cut its stake in IBM by 32 percent, or 17.06 million shares, in the third quarter, according to a required quarterly filing with the U.S. Securities and Exchange Commission released Tuesday. The stock is the third-worst performer in the Dow Jones industrial average this year, down 10.3 percent.
Buffett’s conglomerate increased its holdings of the iPhone maker’s stock by 3.9 million to 134.1 million, the filing showed.
Apple hit a record high last week and is up nearly 11.2 percent this quarter, following the launch of the iPhone X. The stock has rallied nearly 48 percent this year.
Berkshire also increased its holdings in Synchrony Financial and Monsanto, and reduced its investments in Charter Communications and Wells Fargo in the third quarter.
The filings reflect Berkshire’s positions more than a month ago and may have changed since.
