Buffet still says Apple is best company in the world and has a great future. He still owns $174 billion of it, or about 40% of Berkshire’s total value. That’s about four times bigger than Berkshire’s second-biggest public stock holding, Bank of America, and makes Berkshire the No. 2 Apple shareholder, behind only Vanguard.
This is a little pruning after a huge run, not a running away. Do you have 40% of your investments in one stock? If you do, you must think highly of it.
That was my understanding also, it grew to such a size that it was prudent to prune.
One can watch the whole 6.5+ hour event (starts at about 30 minutes in) https://www.youtube.com/watch?v=X3wLdzddRtI
rather than trust that a ‘journalist’ would pick out the meaningful ‘highlights’ or ‘bombshells’ especially if they can’t even get the names right.
“Do you have 40% of your investments in one stock?”
Depends on what’s going on. In 2020 Carnival Cruises was undervalued and I had 50% of my portfolio in it. I bought part at $8.25 and I made another purchase at $7.70.
I sold it all when it hit $25.
My other fortunate move was being an early protester buying GameStop in September 2019 and holding it. It was like $1.25 at the time. I sold most of it at $50 while keeping my original capital invested in it.
Right now the only thing I’m really into is US Gold Corp. and it looks good for now. I bought it mostly because it’s creating jobs in Wyoming.