One of the largest move in dollars and also the biggest surprises in the latest 13-F filing of Berkshire Hathaway was the sale of almost three million Apple shares. This is a huge move during the fourth quarter of 2018.

Many investors were caught off-guard due to this move. Berkshire has always increased its investment in Apple in every quarter since the time it became a part of the portfolio. Warren Buffet has often said that he would love to own the company if he could. But this sale came as a huge shock to many people.

Berkshire’s Apple investment is huge and the 2,889,450 Shares it sold us just a small part of it. These Apple Shares are worth $491 million at present and were worth even more at the time they were sold. These Shares just represent over 1% of the overall investment of the company in Apple.

Warren Buffet has often said that he would love to own the Apple company if he could.

Apple still comes in the largest stock holding of Buffet. The company still owns around 21% shares of Apple.

Did Buffet hit the sell button?

After the release of 13-F, things became a little clear regarding who was behind this action, Debbie Bosanek, Warren Buffet’s assistant, said,

One of the managers other than Warren had a position in Apple and sold part of it in order to make an unrelated purchase.

According to further clarification, Warren Buffet has never sold Apple shares.

Stock-picking lieutenants of Berkshire

Berkshire’s modern history is a proof that stock portfolio is Warren Buffet’s department. Now, major of the stock picking responsibility lies with Buffet’s trusted lieutinants, Todd Combs and Ted Weschler. They manage more than $12 billion of the stock portfolio of Berkshire.

Buffet’s lieutenants don’t need his permission to make any move related to the shares.

Buffet purchased Apple for a Long-term Investment

Buffet loves the fiercely loyal customer base of Apple and the range of products it offers. Buffet loves the tech giant just like before.

Source: Motley Fool