Buffett's Berkshire Hathaway slashes IBM stake

Berkshire Hathaway chairman and CEO Warren Buffett talks with a reporter before the Berkshire Hathaway annual meeting in Omaha Nebraska U

Warren Buffett is the most followed investor in the world, and every move he makes is watched closely by investors everywhere.

Berkshire also increased its holdings in Synchrony Financial and Monsanto, and reduced its investments in Charter Communications and Wells Fargo in the third quarter. They come out 45 days after the end of each quarter.

During the quarter, Berkshire also boosted its stake in Apple to 134.1 million shares worth $20.7 billion, and became Bank of America's largest shareholder by exercising warrants for 700 million shares. Buffett invested in Bank of America in 2011 as it dealt with legal troubles related to mortgages.

Berkshire Hathaway Inc. filed a quarterly snapshot of its portfolio with the Securities and Exchange Commission on Tuesday. When Berkshire first made an investment in Apple in 2016 a fellow at Berkshire bought about 10 million shares, Buffett said.

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Warren Buffett's company sold nearly a third of its remaining IBM shares in the third quarter and made several tweaks to its stock investments. The sale of 17 million shares of IBM were at an approximate price of $150 per share, which was below Berkshire's average cost of $170 per share. The position was last valued at over $1.06 billion.

David Einhorn's Greenlight Capital slashed its Apple stake by 44% to 2.19 million shares, cut its stake in General Motors (GM) by 36% to 34.6 million shares and bought 3.6 million shares of Tempur Sealy (TPX).

The filings reflect Berkshire's positions more than a month ago and may have changed since.

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