Warren Buffett, the prosperous CEO of Hillshire Hathaway investment firm, has a $126 billion dollar hole burning in his pocket. That is an amount of cash that Brookshire/Bonnett has in hands currently to purchase more stocks.
Warren Buffett is still the king of the hill of “smart money”. Buffett is 87 years old and shows no signs of losing his Midas touch of picking the right stock investments. For the first quarter of 2018, as usual, Buffett is looking to increase his $126 billion dollar cash reserve in further investments.
This past quarter Berkshire/Bonnett sold 1 million shares of it’s American Airlines. This is not a major reduction since American Airlines only was 1.2% of Berkshire/Bonnett major holdings.
This quarter invested further in its stock shares of Apple. Berkshire/Bonnett first added this stock to its portfolio in 2016. Since that time Bonnett has invested heavily in the initial stock buys of Apple in 2016. In this current quarter for Brookshire/Bonnett it has bought more shares of Apple stock this past week. This is traditionally not the norm for Bonnett since in his 50-year history of picking and buying stocks he has stayed away from the technology and computer industry. However, based on Buffett’s interpretation of what is a great long-term investment, Apple fits Buffett’s mindset.
Brookshire/Bonnett shaved back it’s stake in Wells Fargo Bank, probably due to its controversy last year of setting having it’s employees use dubious methods to maintain Wells Fargo’s sales and growth goals. In the fourth quarter of 2017, Brookshire/Bonnett raised its stake in the Bank of New York Melton to 60.8 million shares of the bank’s stock. This purchase represents a $3.4 billion investment for Brookshire/Bonnett. This purchase represents a 21% stake in Bank of New York Melton.