2017.11.1422:03:00UTC+00Buffet Boosts Stake in Apple, Slashes Bet in IBM

Warren Buffett continued to trim his investment in International Business Machines Corp. while increasing his bet in Apple Inc. during the third quarter.

Berkshire sold off another piece of its once massive stake in IBM Corp. in Q3 to around 37 million shares worth $5.37 billion from 54.1 million shares valued at $8.32 billion, a regulatory filing entailing its U.S.-listed stock holdings showed.

The share stake in IBM has declined by 54 percent since the end of the previous year, when Berkshire owned almost 81 million shares for which it paid around $13.8 billion.

In May, Buffett disclosed that he has started to sell IBM shares, telling CNBC that he did not value the company as highly as he did six years prior when he began acquiring the stock.

During the quarter, Berkshire also bolstered its stake in Apple Inc. by 3 percent to 134.1 million shares valued at $20.7 billion. The investment firm also became the biggest shareholder of Bank of America Corp. by putting into action warrants for 700 million shares.

Berkshire also reported reducing its holdings in Wells Fargo & Co. and Charter Communication Inc and boosted stakes in Monsanto Co. and Synchrony Financial.