Apple stock (AAPL) currently represents nearly 40% of Berkshire Hathaway’s equity holdings. But speaking to Berkshire (BRK-A, BRK-B) shareholders on Saturday, CEO Warren Buffett noted that saying Apple comprises this percentage of Berkshire’s overall investment portfolio is not an accurate understanding of the business.
“Apple is not 35% of a Berkshire portfolio,” Buffett said. “Berkshire’s portfolio includes the railroad and the energy business Garanimals, you name it, See’s Candies — they’re all businesses.”
Berkshire listed $997 billion in assets at the end of the first quarter, and only $328.16 billion of those were investments in equity securities. Still, Apple has become a massive holding in Berkshire’s equity portfolio since the company first started buying in 2016.
That has spawned from additional buying by Berkshire but also from growth in Apple’s services business and Apple’s commitment to stock buybacks. Apple stock has risen more than 500% since Berkshire first…
This article was written by and originally published on finance.yahoo.com