Buffett Says Berkshire's Been a Net Buyer of Stocks This Year

3 Charts to Know: Berkshire, Buffet & a $65 Billion Boon

Warren Buffett said his Berkshire Hathaway Inc. has been a net buyer of stocks in 2018, even as he trimmed a stake in Phillips 66 to get below a regulatory threshold.

“So far this year, we’ve been a net buyer, although we sold a chunk of Phillips 66,” Buffett, the chairman and chief executive officer of Berkshire, said in an interview Monday with CNBC. He said the acquisitions weren’t prompted by spikes in volatility, but more because Berkshire targeted stocks that it likes.

Buffett’s company has been boosting stakes in companies including Apple Inc. and adding holdings such Teva Pharmaceutical Industries Ltd. through the end of last year, according to a regulatory filing. In the fourth quarter, Berkshire cut its holding in International Business Machines Corp. by 94 percent.

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