Billionaires Just Love These Stocks That Pay High Taxes

#4 Home Depot – 36% tax rate in the past five reported quarters

Home Depot Inc (NYSE:HD) is also among high tax paying stocks and is well liked by billionaires. The stock could be fund in the portfolios of 12 billionaire fund managers at the end of the 2017 third quarter. Israel Englander’s Millennium Management more than doubled its stake in Home Depot Inc (NYSE:HD) and has reported ownership of 628,560 in its latest 13F filing. Richard Chilton and his fund, Chilton Investment Company, have slightly reduced their bet on Home Depot and held 877,561 at the end of the quarter.

Home Depot Inc (NYSE:HD) has had a stellar 2017, with the stock having surged by 41%, and has extended its bullish run into 2018. One of the reasons for such a great performance is “One Home Depot”, the company’s program designed to combine the physical and online sales into a single shopping experience. As a result, online sales have grown to represent approximately 6.5% of the company’s total sales and its e-commerce platform is the seventh largest in the US.

#3 Apple – 26% tax rate in the past five reported quarters

One of Wall Street’s darlings, Apple Inc. (NASDAQ:AAPL) holds a lot of cash overseas that is waiting to be repatriated now with the new tax system. Billionaires’ funds have been loading up on Apple shares, with the total number of billionaires holding the stock rising to 17 at the end of 2017 third quarter, from 14 registered a quarter earlier. Warren Buffet’s Berkshire Hathaway first reported its stake in Apple Inc. (NASDAQ:AAPL) at the end of the 2016 first quarter and since then has been buying more and more of the stock. It was also the case in the third quarter, as Berkshire’s holding reached a little over 134 million shares. Billionaire Larry Robbins is also keeping tabs on Apple, with his fund, Glenview Capital reportedly holding 2.5 million shares.

Apple Inc. (NASDAQ:AAPL) shareholders could be in for a surprise when the company issues its earnings report on Thursday, as unconfirmed reports state that Apple is looking to cut the production of iPhone X. Many consumers have been scared away by the smartphone’s prices and have decided to either settle for the cheaper iPhone 8 or iPhone 8 Plus, or wait another year before upgrading their smartphones.