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Berkshire Hathaway increases Apple position to $1.46B

Warren Buffett's Berkshire Hathaway took advantage of a dip in Apple's share price during the second quarter, increasing its stake in the company to $1.46 billion as of June 30.

Source: Reuters

During the second quarter of 2016, Berkshire Hathaway increased its position in Apple by some 5.4 million shares, putting the investment firm's holdings at 15.2 million shares, according to an SEC filing released on Monday.

As noted by Bloomberg, Buffett's move capitalizes on a series of tough quarters for Apple. During the three-month period ending in June, Apple saw its share prices tumble 12 percent to $95.60 per share, while a contraction in iPhone sales the quarter prior spurred the company's first revenue decline in 13 years.

Berkshire bought in to Apple with a purchase of 9.81 million shares earlier this year, around the same time that activist investor Carl Icahn decided to dump his shares. The move that raised eyebrows as Buffett traditionally steers clear of technology holdings, but it was later learned that deputy investment managers executed the buy.

AAPL was at $109.48 when the markets closed on Monday.