New York City, (Issuewire.com) - Warren Buffett Sold Apple, Bought These Stocks In Q3

Berkshire Hathaway (BRKB) picked up RH (RH) and Occidental Petroleum (OXY) in the third quarter, but Warren Buffett trimmed his Apple (AAPL) stake, the latest quarterly 13F filings with the SEC show.

Individual investors use the regulatory data to gauge where the "smart money" is placing its bets. The 13F filings show holdings at the end of each quarter, so hedge funds may have made changes to stock positions since then.


Warren Buffett Buys RH Stock, Occidental Stock

Berkshire Hathaway sold more than 750,000 shares of Apple and more than 31 million shares of Wells Fargo (WFC) in Q3, but left existing stakes in other top 10 stocks in its portfolio unchanged.

Meanwhile, the Warren Buffett-run company took new positions in RH and Occidental, buying 1.2 million shares of the high-end furniture chain formerly called Restoration Hardware, worth around $206 million as well as 7.5 million shares of the oil giant worth around $332 million. The stakes each account for roughly 0.1% of Berkshire's portfolio assets. Sources close to Berkshire Hathaway like long time Wall Street insider Robert Rubiano says, "Warren buffet acquires companies base on operational knowledge and market timing.”

Earlier this year, Berkshire Hathaway invested $10 billion in Occidental to help secure funding for its $38 billion acquisition of Andarko Petroleum.

The 13F filings showed Berkshire Hathaway lowered its stake in Wells Fargo by 7%, in Phillips 66 (PSX) by 6% and in Sirius XM (SIRI) by 1%.

In Q2, Berkshire had left unchanged its position in Apple stock, which remains the No. 1 stock in Buffett's portfolio at 26% of assets, as per 13F filings tracked by Whalewisdom.com.

RH stock jumped 7.6% to 188.58 in the stock market today, gapping above its 50-day line. Occidental rose 3.15%, Apple climbed 1.2% and Wells Fargo added 0.6%.

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