I hope it goes well too, John, as that puts my look-through exposure to this 2-bagger in GBP (or 1.9-bagger in USD) up to at least 33.5% at the close, about 6Ό% points coming via our 69.1% BRK.B position. I think it got a little higher at the end of 2016 when our direct AAPL exposure was around 31-32% at market prices, but it's closer to fully-valued now.
I imagine Berkshire bought substantially in the early February dip into the $150s (when a lot of us were busily buying BRK.B in the low $190s on volume around 8 million per day - which for me was cheaper than it is now, thanks to currency swings).
Traded volume was well over 50 million shares a day for all of the 4 or 5 sessions with the lowest prices (and a bit higher than surrounding weeks), so buying about 75 million shares could quite possibly have included a good proportion purchased at some of the lowest prices that quarter, assuming they keep to a modest proportion to avoid causing the price to rise.
I'm pleased to see that large caps with decent volume still provide plenty of opportunities for Berkshire to take meaningful stakes at reasonable valuations.
