OREANDA-NEWS. Warren Buffett's Berkshire Hathaway has surpassed 50% in its portfolio of Apple shares. On Friday, December 10, the value of the iPhone maker's shares in Berkshire Hathaway's portfolio rose to a record $159 billion, 342% more than the company's initial 2016 stock investment, Business Insider writes.

The Cupertino-based company's share of Berkshire Hathaway's portfolio has increased as its share price has skyrocketed. Apple shares rose 31.7% in the current quarter, reaching a high of $182.13 per share on December 13, trading data show. As a result, Apple now accounts for more than half of Warren Buffett's portfolio, which is valued at $293 billion.

"The Oracle of Omaha" is known for concentrating his investments in specific financial assets, not using broad diversification. His concentration of assets in Apple is also notable because it didn't take decades for it to skyrocket. On the contrary, it has only been five years since Berkshire Hathaway began building up its stake in the company.

The investment holding company first bought Apple shares in 2016 and continued to buy them until mid-2018, when its stake surpassed 1 billion shares after a 4:1 share split in 2020. Buffett has reduced Berkshire Hathaway's position in Apple by about 12% since the initial acquisition.