Warren Buffett’s Berkshire Hathaway sold 10mn Apple shares in the last three months of 2023, cutting into a position that the so-called Oracle of Omaha has called one of the “four giants” that account for most of his group’s value.
The sale, representing about 1.1 per cent of Berkshire’s holding in the technology company, was notable as Buffett had said as recently as 2021 that an earlier decision to cut its Apple stake was “probably a mistake”.
Apple has become a critical holding for Berkshire and now accounts for roughly a fifth of its market value. Buffett’s sprawling conglomerate, which owns the BNSF railroad and Geico insurer, first invested in the iPhone maker in 2016 at the direction of one of his two investment deputies: Todd Combs and Ted Weschler.