After the latest 13-F filing this week, some investors discovered an interesting phenomenon. After significantly reducing its holding of Apple stock, Berkshire, a subsidiary of Buffett's company, held the exact same number of shares of Apple and Coca-Cola at the end of June, both at 0.4 billion shares, an absolute integer. In terms of product structure, the operating income for 10-30 billion yuan products was RMB 401/1.288/0.06 billion, respectively.

Coincidence or careful planning?

It should be noted that Coca-Cola is one of the longest-held stocks by Berkshire, and also one of the earliest Buffett invested in. Berkshire has maintained a stable position in Coca-Cola for 30 years since 1994, and the number of shares held is also an integer:

Buffett first bought shares of Coca-Cola in 1988, when he bought 14,172,500 shares and continued to increase his holdings in the following years. By 1994, he held 0.1 billion shares of Coca-Cola. Due to two stock splits in 2006 and 2012, where 1 share was split into 2 shares, Berkshire's holdings of Coca-Cola shares increased to 0.4 billion.

Buffett once said that he discovered this iconic soft drink when he was six years old. In 1936, Buffett began buying 6 bottles of Coke at a time from his family's grocery store for 25 cents each, then sold them for 5 cents more per bottle near his home. Buffett said that he realized the extraordinary consumer appeal and commercial potential of this product at that time.

Buffett has also praised Apple on many occasions. At this year's Berkshire Hathaway shareholder meeting in early May, he highly praised iPhone as one of the greatest products and possibly the greatest product ever. He said that when he decided to invest in it, he believed that the value of Apple's stock was lower than its actual value. He did not know how the iPhone worked at the time, but knew that consumers liked it, and that the value of the iPhone was greatly underestimated, and that Apple CEO Cook was as outstanding as Jobs.

Buffett even said that Apple is the second most important business after Berkshire's insurance business. Therefore, the market was shocked when Berkshire's financial report this month showed that it sold more than 49% of its Apple shares in the second quarter.

At this year's Berkshire Hathaway shareholder meeting, Buffett also compared Apple to Coca-Cola many times:

By the end of this year, Berkshire is likely to be the largest holder of Apple common stock. Unless there is a 'dramatic' situation, Apple will be Berkshire's largest investment. Holding it is not just owning stock, but it is seen as a business, just like Coca-Cola and American Express.

Berkshire will still hold long-term positions in Apple, American Express, and Coca-Cola; these investments have been very successful in the past. Apple will be a major investment for Berkshire in the long run.

Apple is a better company than Coca-Cola and American Express. 'We own American Express, which is a great company, and we own Coca-Cola, which is a great company, and we own Apple, which is a better company.'

Based on the above information, some people believe that Buffett may have stopped reducing his holding of Apple shares. 'If Buffett likes integers, he may not intend to sell any Apple shares anymore, just like Coca-Cola is Buffett's permanent holding, Apple may be the same.'

Many people in the industry believe that Buffett's reduction of Apple is for portfolio management purposes, based on his judgment of the overall market, rather than specifically targeting Apple. Therefore, due to the fact that the number of Apple shares held is at an integer level, and is consistent with Berkshire's 30-year position in Coca-Cola, some investors have come up with the speculation described above.

Of course, many investors believe that 0.4 billion shares is just a pure coincidence. They believe that it is an over-interpretation to speculate that Buffett is anchoring this number to reduce holdings.

Editor/Emily