FX.co ★ Berkshire Hathaway Reduces Stake In Apple, BofA As Cash Pile Hits $325.2 Bln

Berkshire Hathaway (BRK-B) has reported a record cash reserve of $325.2 billion for the third quarter, following the divestment of its equity holdings in significant corporations, including Apple (AAPL) and Bank of America (BAC).

At the end of the previous year, the company, owned by Warren Buffett, possessed 907.6 million shares of Apple, equating to 5.7% of the outstanding shares, with a valuation of approximately $174.3 billion.

According to the latest quarterly report from Berkshire, its stake in the tech company is now valued at $69.9 billion.

Jim Shanahan, an analyst at Edward Jones, commented to the Financial Post, "I don't believe Warren Buffett has ever been entirely at ease with technology investments."

Shanahan noted that the share sales likely commenced soon after the passing of Charlie Munger, who was Buffett's long-standing business partner until his death in 2023. "It might simply be that Munger had greater ease in dealing with Apple compared to Warren Buffett."

Additionally, the Omaha-based conglomerate has also sold shares worth $9 billion from its holdings in Bank of America.