Berkshire drops 21st Century Fox stake

Warren Buffett’s Berkshire Hathaway spent the first quarter finetuning its investments in airlines and technology companies, and retreating from 21st Century Fox.

In a filing on Monday, Berkshire no longer listed Fox.

Holdings in American Airlines and Southwest Airlines increased, while stake in Delta Air Lines was reduced.

Buffett previously disclosed that he boosted a bet on Apple in the first quarter as he pulled back from International Business Machines.

Buffett was a net buyer of stocks as 2017 began, adding more than $7 billion worth of securities in the first quarter.

While US equity markets have been rising for years, making it harder to find bargains, the 86-year-old Berkshire chairman and chief executive officer continues to say stocks are a good investment because interest rates are low.

“Buffett has an overall optimistic outlook for the economy and the stock market,” said David Kass, a professor at the Uni- versity of Maryland’s Robert H Smith School of Business. “This is consistent in that direction.”