Buffett's investment company continued to buy Apple stock last quarter and now owns more than $137 billion in Apple stock.
In a report filed with the US Securities and Exchange Commission (SEC) on February 14, Berkshire Hathaway - Warren Buffett's investment company said it bought more than $ 3 billion in Apple shares in the fourth quarter of 2022.
Apple remains Berkshire's largest stock investment today, with more than $137 billion.
According to StreetInsider data, Berkshire currently holds 5.8% of Apple's shares. In the last quarter of last year, the company also received $210 million in dividends from Apple.
In addition to Apple, Berkshire also increased purchases of shares of construction materials company Louisiana-Pacific and Paramount Global in the last three months of last year.
However, they reduced their stakes in eight companies, including U.S. Bank. Bancorp and chip company TSMC - one of Apple's most important supply partners. TSMC shares decreased from 60 million to 8.29 million, worth $617 million. Berkshire only poured money into TSMC in the third quarter of last year.
Buffett previously avoided investing in the technology industry for decades. He only changed his strategy after considering Apple as a brand that represents a lifestyle and has a high customer loyalty rate.
Berkshire poured money into Apple in 2016.
In 2018, the billionaire once said that he "wants to own 100% of Apple". This is of course impossible, but it shows Buffett's love of the stock. Apple CEO Tim Cook once said that Apple "is very happy to have major shareholders Warren and Berkshire.
Last quarter, Berkshire did not buy any new shares. Usually, given Buffett's reputation, new shares bought by Berkshire will make headlines after the report comes out.
Yesterday's report is the kind of document that institutional investors with over $100 million in assets must file with the SEC 45 days after the end of each quarter.
Therefore, it only reflects assets for the previous quarter, not the current one. However, many investors are still waiting for Berkshire's report to see what Buffett and VP Charlie Munger think about the market.