3 Stocks Warren Buffet is Buying and 1 He's Selling
Warren Buffet is widely regarded as the greatest investor that has ever lived. Some people call him the "Oracle of Omaha" the moves he makes and positions he takes with his investment company Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) are heavily watched and even used as an indicator for some when adjusting their investment portfolios.
Recently Warren has made a few big purchases and decided to cut is current position in a major American brand. These positions may not be the ideas of Warren himself it could be one of his fund managers Ted Weschler or Todd Combs but we know at least it has met with his approval.
Visa (NYSE:V)
While not it's largest investment by any means, Berkshire Hathaway's stake in Visa Inc. increased by 3% with the purchase of 323,000 shares last quarter. Berkshire Hathaway's total stake in Visa Inc. is 10.6 million shares which is currently valued at $828 million.
Delta Airlines (NYSE:DAL) - American Airlines (NASDAQ:AAL) - United Continental Holdings Inc. (NYSE:UAL)
In a bit of a surprise move Berkshire Hathaway purchased 21,770,555 shares of American Airlines Group, 6,333,923 shares of Delta Air Lines Inc and 4,533,013 shares of United Continental Holdings Inc. This is a bit of a surprise because Warren Buffet has famously loathed the airline industry so it's a bit of a head-scratcher.
Phillips 66 (NYSE:PSX)
Berkshire Hathaway purchased over 1.5 million shares in the energy company Phillips 66 to bring their total holdings up to 80.7 million shares which is currently valued at $6.7 billion. This is one of Buffet's biggest investments.
Who Got Cut?
Buffet continued to cut Berkshire Hathaway's holdings in American retail giant Wal-Mart Stores (NYSE:WMT). This marks the second quarter in a row that Warren has slashed his holdings in Wal-Mart. It's interesting when you contrast it with his purchase of shares in Visa Inc because the two companies are currently embroiled in a battle with Wal-Mart removing Visa from some of its stores. It seems that Warren Buffet has chosen his dog in this fight.
Image sources: Forbes, Visa, ABC News, Wal-Mart, Phillips 66
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Yeah I was shocked to hear of the airline purchases, it must not have been Warren himself making that decision.
Well, there are a lot of people saying they want to leave the U.S. after the election. Plus there are so many countries where their people are emigrating to another. Makes sense to invest into airlines, especially before the holidays.
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