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Fact Check: Did Warren Buffett Really Just Sell 3 Million Apple Shares?

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One of the largest move in dollars and also the biggest surprises in the latest 13-F filing of Berkshire Hathaway was the sale of almost three million Apple shares. This is a huge move during the fourth quarter of 2018.

Many investors were caught off-guard due to this move. Berkshire has always increased its investment in Apple in every quarter since the time it became a part of the portfolio. Warren Buffet has often said that he would love to own the company if he could. But this sale came as a huge shock to many people.

Berkshire’s Apple investment is huge and the 2,889,450 Shares it sold us just a small part of it. These Apple Shares are worth $491 million at present and were worth even more at the time they were sold. These Shares just represent over 1% of the overall investment of the company in Apple.

Warren Buffet has often said that he would love to own the Apple company if he could.

Credits: www.fool.com

Apple still comes in the largest stock holding of Buffet. The company still owns around 21% shares of Apple.

Did Buffet hit the sell button?

After the release of 13-F, things became a little clear regarding who was behind this action, Debbie Bosanek, Warren Buffet’s assistant, said,

One of the managers other than Warren had a position in Apple and sold part of it in order to make an unrelated purchase.

According to further clarification, Warren Buffet has never sold Apple shares.

Stock-picking lieutenants of Berkshire

Berkshire’s modern history is a proof that stock portfolio is Warren Buffet’s department. Now, major of the stock picking responsibility lies with Buffet’s trusted lieutinants, Todd Combs and Ted Weschler. They manage more than $12 billion of the stock portfolio of Berkshire.

Buffet’s lieutenants don’t need his permission to make any move related to the shares.

Buffet purchased Apple for a Long-term Investment

Buffet loves the fiercely loyal customer base of Apple and the range of products it offers. Buffet loves the tech giant just like before.

Source: Motley Fool

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