With his investment fund Berkshire Hathaway, he invested several billion dollars in the stock market, according to a report to the US Securities and Exchange Commission. While the 92-year-old reduced other investments, mainly in the financial sector, from July to September, he made a major commitment to the tech industry: Berkshire took advantage of the fall in the world’s largest chip manufacturer TSMC and acquired around 60 million American depositary receipts from the Taiwan-based group . Assuming the papers were bought at the average price, the participation would have cost around 5.1 billion dollars (4.9 billion euros).
The news of Buffett’s entry boosted the TSMC papers, because the move is taken by observers as an indication that the investor legend sees the bottom in the TSMC paper after the sell-off. Buffett has long stayed away from the tech industry, true to his credo of not investing in companies he doesn’t understand. However, this attitude has changed in recent years and the proportion of its investments in the tech sector has grown. The iPhone manufacturer Apple has remained its most valuable individual holding to this day, so now its exclusive supplier TSMC has also been added. Berkshire holds nearly 6 percent of Apple’s shares, which are worth around $140 billion.
In addition to TMSC, Buffett’s company also bought US bank Jefferies and building materials maker Louisiana-Pacific Corp last quarter. At the same time, he increased his stake in the oil company Occidental Petroleum, which he now owns almost a third of. In return, Berkshire reduced exposure to financials by about $4.7 billion. For example, holdings in US financial firms Bancorp and BNY Mellon were reduced during the period.
/tav/mne/mis
NEW YORK (dpa-AFX)
Leverage must be between 2 and 20
No data
More news about Apple Inc.
Image credits: Daniel Zuchnik/WireImage