Warren Buffet takes a bigger bite of Apple, but won’t stop sipping Coke

Apple comprises of nearly half of Berkshire Hathaway's holdings. Warren Buffett's reluctance to bet on technology in the past is well documented. However, Berkshire disclosed a position in the iPhone-maker valued at $1 billion in 2016. That holding is now valued at over $150 billion.

From 38 percent in December, Apple forms 46 percent of the total holdings in March.

"Apple is different than the other businesses we own. It just happens to be a better business," said Buffett during Berkshire's annual meeting in Omaha, Nebraska.

Among key reductions in its top holdings, Berkshire Hathaway sold shares worth nearly $9 billion in Chevron during the January-March period. From being the third-largest holding, the oil producer is now the fifth-largest.

Shares of Chevron had surged over 50 percent in 2022.

Berkshire also sold more shares of Taiwan Semiconductor Manufacturing Company (TSMC), BNY Mellon, and US

Bancorp. It is also said to have sold shares in Activision Blizzard after news of UK regulators blocking Microsoft's acquisition of the video-game company.

Barring Bank of America, most of Berkshire Hathaway's top five holdings have done well over a five-year period.

Most of Berkshire's portfolio gains this year have come from its largest holding - Apple. The firm was a buyer of Apple's shares in the March, June and December quarter of 2022. While it did not add any more shares in the March quarter of 2023, the value of its holding and proportion in the portfolio increased courtesy a 39 percent jump in share price and paring of other holdings.