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After the latest 13-F filing was released this week, some investors discovered an interesting phenomenon. After significantly reducing its holdings in Apple, Berkshire Hathaway, owned by Buffett, held exactly the same number of shares in Apple and Coca-Cola as of the end of June 30. The number of shares held by Berkshire Hathaway in Apple and Coca-Cola is 400 million shares each, which is an absolute integer.

Coincidence or careful planning?

It is important to note that Coca-Cola is one of Buffett's longest-held stocks and one of his earliest investments.For 30 years since 1994, Berkshire's holdings in Coca-Cola have remained stable, with the number of shares held being an integer:

Buffett first bought Coca-Cola shares in 1988, when he bought 14,172,500 shares, and continued to increase his holdings in the following years. By 1994, he held 100 million shares of Coca-Cola. Due to two 1-for-1 stock splits in 2006 and 2012, the number of Coca-Cola shares held by Berkshire has increased to 400 million shares.

Buffett has said that he discovered the iconic soft drink at age 6. In 1936, Buffett began buying six bottles of Coke at a time from his family's grocery store for 25 cents a bottle, and then selling them around his home for 5 cents more. Buffett said that's when he realized the product's extraordinary consumer appeal and commercial possibilities.

Buffett has also praised Apple on many occasions. At the Berkshire shareholders meeting in early May this year, he spoke highly of the iPhone, calling it one of the greatest products and perhaps the greatest product ever. He said that when he decided to invest, he thought the value of Apple's stock was lower than its actual value. He didn't know how the iPhone worked at the time, but he knew that consumers liked it, that the value of the iPhone was far underestimated, and that Apple's CEO Cook was as good as Jobs.

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

At Berkshire's shareholder meeting this year, Buffett also made several comparisons between Apple and Coca-Cola:

By the end of this year, Berkshire will likely be the largest holder of Apple common stock. Unless something "dramatic" happens, Apple will be Berkshire's largest investment. Holding it is not just holding a stock, but treating it as a business, just like Coca-Cola and American Express.
Berkshire will continue to hold Apple, American Express and Coca-Cola for a long time. These investments have achieved great success in the past. Apple will be a major investment for Berkshire for a long time.
Apple is a better business than Coca-Cola and American Express. "We have American Express, which is a great business, we have Coca-Cola, which is a great business, and we have Apple, which is a better business."

Based on the above information, this leads some people to believe that Buffett may have stopped reducing his holdings in Apple."If Buffett likes round numbers, he may not plan to sell any more Apple shares, just as Coca-Cola is a permanent holding for Buffett, so may Apple."

Many industry insiders believe that Buffett's reduction of Apple's holdings is for the purpose of portfolio management, based on the judgment of the overall market rather than targeting Apple alone. Therefore, since the number of Apple shares is at an integer level and consistent with Buffett's 30-year holding of Coca-Cola, some investors have the above speculation.

Of course, there are also many investors who think that 400 million shares is just a pure coincidence, and that Buffett is really overthinking it by targeting this number to reduce his holdings.