Buffett now owns the same number of Apple and Coca-Cola shares
Warren Buffett
In a special case of portfolio management, Warren Buffett, often referred to as the 'Oracle of Omaha' and the best investor of all time, has the same number of Apple and Coca Cola shares after reducing the tech stock holding by half.
According to a '13-F' filing by Berkshire Hathaway on August 14, this particular observation was made by many ardent followers of Warren Buffett, the Chairperson of a nearly trillion-dollar valued firm Berkshire Hathaway. The filing showed 400 million shares of Apple and Coca-Cola each. Coca-Cola coincidently remains one of Buffett's oldest holding.
If anything, this was a sign for many to believe that the 'Oracle of Omaha' was done with reducing his take in the largest technology company in the world, i.e., Apple. "If Buffett likes round numbers, he may not be planning to sell any additional shares of Apple," stated David Kass, in a conversation with CNBC. He is a finance professor at the University of Maryland's Robert H. Smith School of Business. He further concluded, "Just as Coca-Cola is a 'permanent' holding for Buffett, so maybe Apple."
When did Buffett invest in Coca-Cola?
The Oracle of Omaha first purchased 14,172,500 shares of Coca-Cola in 1988. Later on he bumped his stake to 100 million shares by 1994, since then the legendary investor has held on to his stake in the company for more than 30 years now. Further, due to two stock splits in the year 2006 and 2012, Berkshire's Coca-Cola holding turned into 400 million shares.
The decision of Buffett to bring down his stake in Apple by nearly 50 per cent came as a surprise for many after Buffett himself called Apple one of the most important businesses in the US after Berkshire Hathaway's collection of insurers.
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The stake sale reduced Apple's weight in Berkshire's portfolio to 30 per cent from nearly 50 per cent in the last year. It is also to be noted that in Berkshire Hathaway's annual meeting in May Buffett did compare both Apple and Coca Cola. "We own Coca-Cola, which is a wonderful business," he stated. "And we own Apple, which is an even better business, and we will own, unless something really extraordinary happens, we will own Apple and American Express and Coca-Cola."