Warren Buffett Just Dropped This Big Stock From His Portfolio

Warren Buffett’s Berkshire Hathaway just sold off $900 million of retail giant Walmart’s stock, leaving the company with no shares in Walmart left.

Buffett initially bought shares of Walmart back in 2005, but has been paring his stake in the company since acknowledging last year that brick-and-mortar retailers were struggling against Amazon.

He said Amazon’s competitors, “including us in a few areas, have not figured the way to either participate in it or to counter it.”

Shares of Walmart have dropped 21% since the end of 2014.

Berkshire has been buying a lot of Apple during the fourth quarter, adding another 42.1 million shares of the stock. The company’s total investment is now 57.4 million shares.

Apple just hit a new record intra-day high this week since 2015 which values Berkshire’s position at $7.74 billion if he hasn’t sold anything.