In this year’s letter, Buffett touted that Apple ranks as Berkshire’s biggest common stock investment, even though the conglomerate sold 9.81 million shares of AAPL at the end of 2020.

Buffett touts AAPL as a stock that “vividly illustrates the power of repurchases.” Berkshire first began acquiring Apple stock in late 2016 and it currently holds $120 billion worth of the stock, at a cost of $31.1 billion.

We began buying Apple stock late in 2016 and by early July 2018, owned slightly more than one billion Apple shares (split-adjusted).

Buffett also says that Berkshire sold a small portion of its AAPL stake at the end 2020, pocketing $11 billion.

– Berkshire now owns 5.4% of Apple.

As Bloomberg reports, Buffett resisted buying Apple stock for years because he said he failed to understand the technology company.

Nonetheless, even though Berkshire Hathaway is a major investor in Apple, Warren Buffett himself only switched from a flip phone to the iPhone last year.

Chance is an editor for the entire 9to5 network and covers the latest Apple news for 9to5Mac