Warren Buffett sold more than $800 million worth of Apple stock last quarter, according to SEC filings published on Friday.
That might seem like a massive sale, but it’s closer to a rounding error for the billionaire investor and Berkshire Hathaway CEO. Berkshire is Apple’s biggest shareholder with a 5.4% stake worth $72 billion, according to Bloomberg data.
Buffett’s lieutenants may have trimmed their stake in Apple for a few reasons. Perhaps they wanted to diversify Berkshire’s holdings, given the iPhone maker accounts for nearly 30% of its portfolio. Indeed, Berkshire made fresh investments in Kroger and Biogen last quarter.