Warren Buffett’s Berkshire Hathaway Inc. (BRK-A, BRK-B) opened accounts in Bank of New York Mellon Corp. (BK) and Southwest Airlines Co. (LUV) and sold its entire stake in 21st Century Fox this past quarter. 

According to a filing made by the company today, it bought 33 million shares of Bank of New York Mellon worth $1.5 billion and 47.6 million shares of Southwest Airlines worth $2.5 billion during the first quarter of this year. 

At the same time, Berkshire boosted its holding in Apple Inc. (AAPL) by 72 million shares to 129.3 million. Buffett recently told CNBC that it was “amazing” how the Cupertino company resonated with customers. Specifically, the firm used its deep knowledge of the furniture business in order to evaluate Apple and its competitive pricing power over rivals.  It is likely that the impending launch of Apple’s iPhone 8, which is predicted to lead a supercycle of demand, convinced Berkshire Hathaway to buy more shares in the company. (See also: How Apple Is Making Warren Buffett Richer). 

In addition to buying shares in Southwest Airlines, Berkshire Hathaway also increased its stake in American Airlines Group Inc. (AAL) to 49.2 million shares worth $2.08 billion. Buffett criticized airlines as perennial money-losers for nearly a quarter of a century before changing his game this year. In a February interview with CNBC, Buffett said that the industry had got a bad century out of the way, much like the Chicago cubs (who won the world series after a gap of 108 years last year. But he suffered losses on his United Airlines (UAL) bet. (See also: How Buffett Lost Big On United Airlines). 

In a previous interview with CNBC, Buffett had indicated that he had sold off a third of his stake in IBM Corp. (IBM). Then he had said that he had revised his assessment of the tech giant based on competition from existing players.  

Berkshire Hathaway also exited its position in 21st Century Fox Inc. (FOX). According to a previous filing, Berkshire had a 8.9 million shares in the company. The media conglomerate has been embroiled in a sexual harassment controversy that has had a significant effect on its balance sheet. According to some estimates, the total amount of payouts resulting from charges brought against its female employees is almost $45 million.

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.