Buffet has 257 trillion won in cash assets

“Has Apple's investment appeal diminished since the initial investment in 2016?”

At the CHI Health Center, known as the basketball hub in Omaha, Nebraska, the U.S., on Saturday (local time), Malaysian shareholder Sherman Lam (27) posed the first question at the Berkshire Hathaway shareholders' meeting, attended by approximately 30,000 individuals from across the globe. This inquiry came shortly after Berkshire Hathaway's disclosure of selling approximately 115 million shares, representing 13% of its holdings in Apple, during the first quarter. Apple CEO Tim Cook was seated in the front row during the event.

Berkshire Hathaway Chairman Warren Buffett said, "No. Apple will represent the largest portion of our stock portfolio this year. The federal government possesses a portion of corporate earnings through taxes, and there might be a push to augment that portion owing to the substantial fiscal deficit." Buffett clarified that the reduction in their stake was prompted by apprehensions regarding escalating corporate taxes and not by a shift in their perspective on Apple. Furthermore, he reiterated, "We intend to retain our holdings in Coca-Cola, American Express, and Apple indefinitely."

Despite significant sales, Berkshire Hathaway still retains $135.4 billion worth of Apple stock as of the end of March, solidifying its position as Apple's largest shareholder, excluding exchange-traded funds (ETFs). Additionally, Berkshire Hathaway disclosed that its cash assets surged from $167.6 billion at the close of last year to $189 billion by the end of the first quarter.


Hyoun-Soo Kim kimhs@donga.com