Berkshire Hathaway has more than doubled its position in Apple since December 31, 2016, Warren Buffett told CNBC in an interview on Monday.
At the end of last year, the company owned over 61 million Apple shares, worth $US7 billion at the time, according to Buffet’s annual letter to shareholders released on Saturday, which included a regulatory disclosure of its long positions.
That made it Berkshire Hathaway’s fifth most valuable holding and one which has so far made the holding company $US1.6 billion in profit.
But on Monday Buffett told CNBC: “We’ve [now] got about 133 million shares.”
Buffet said, “We’ve not bought Apple since its earnings report came out because it shot up” which means the additional 72 million shares were purchased in January ahead of Apple’s earnings report on January 31.
When CNBC asked Buffet why, the investment tycoon replied: “‘Cause I liked it.”
Here’s the clip from Buffet’s interview with CNBC.
BREAKING: Buffett says Berkshire now owns 133M shares of Apple; the position has more than doubled since year-end https://t.co/0vG1hQLAYR pic.twitter.com/3x1LemWtwq
— CNBC Now (@CNBCnow) February 27, 2017