Warren Buffett’s Berkshire Hathaway loads up on more Goldman Sachs

Warren Buffett.
Bill
Pugliano/Stringer/Getty Images

• Warren Buffett’s Berkshire Hathaway raised its stake in
  Goldman Sachs by 21% to 13.2 million shares during the second
  quarter.
• Berkshire’s initial position in the Wall Street bank
  stemmed from an investment during the financial
  crisis.
• Berkshire also added to its Apple position.

Warren Buffett added to his stockpile of Goldman Sachs shares
during the second quarter. 

The investing legend’s Berkshire Hathaway upped its stake in the
investment bank by 21% to 13.2 million shares, according to a
regulatory filing out Tuesday. It’s total position in the firm is
now worth more than $3 billion, assuming it has not sold any
shares during Q3. 

Berkshire’s position in Goldman
began in the wake of the financial crisis when it invested $5
billion in preferred stock that paid a 10% dividend and
were callable at any time at a 10% premium. It also
received warrants to purchase up to $5 billion of Goldman
common stock with a $115 strike price. 

In October of 2013,
Berkshire received a handsome payday from the bank after
exercising the warrants it bought during the financial crisis.
The bank paid the conglomerate $2 billion in cash and gave it
13.1 million shares of stock. 

The 13-F released on Tuesday showed Berkshire raised its
stake in Apple by 5% to 251 million shares. That stake is now
worth $46.6 billion after Apple’s market cap crossed the $1
trillion mark on August 3. 

Berkshire also upped its stakes in Southwest Airlines and
Delta Air Lines by 19% apiece while trimming its stake in
American Airlines by 3%.