Apple Is Buffett's Top Equity Holding, Surpassing Wells Fargo

Warren Buffett’s Berkshire Hathaway Inc. has taken a real shine to Apple Inc.

Katherine Chiglinsky

20 Feb 2018, 07:49 PM IST

Apple Is Buffett's Top Equity Holding, Surpassing Wells Fargo

An attendee wearing a large head in the likeness of Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., runs at the start of the “Berkshire Hathaway Invest In Yourself 5K” race (Photographer: Daniel Acker/Bloomberg)

(Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. has taken a real shine to Apple Inc.

Berkshire boosted its holding of the iPhone maker to $28 billion at year-end, surpassing its stake in Wells Fargo & Co., which was worth $27.8 billion on Dec. 31. That makes Apple its largest equity holding by market value, according to data compiled by Bloomberg.

Apple has continued to rally this year, increasing the value of Berkshire’s stake to $28.6 billion based on Thursday’s closing price. Meanwhile, its Wells Fargo holding has slumped to $27.5 billion. Buffett’s company also has been cutting its stake in the San Francisco-based lender to get below a regulatory threshold.

To contact the reporter on this story: Katherine Chiglinsky in New York at kchiglinsky@bloomberg.net.

To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steven Crabill, Peter Eichenbaum