Market Insider

Warren Buffett's Berkshire Hathaway raises stake in Apple by 55 pct

Berkshire Apple stake increased by 55%
Berkshire Apple stake increased by 55%

Berkshire Hathaway has added a large chunk of Apple stock to its portfolio.

The multi-billion-dollar conglomerate, which is run by legendary investor Warren Buffett, increased its stake in Apple by 55 percent as of June 30. Apple's stock has been on a tear lately, rising about 21 percent over the past three months.

Berkshire's stake in Apple was first revealed in May. It wasn't Buffett himself who made the initial purchase, but rather one of portfolio managers.

AAPL 3-month chart

Source: FactSet

Berkshire also raised its stake in Phillips 66 by 4.3 percent, but cut its stakes in Deere, Suncor Energy and Wal-Mart by 5.7 percent, 25.8 percent and 27.2 percent, respectively.