Berkshire Hathaway, the investment company of billionaire Warren Buffett, has released its quarterly report and the latest investment information. A key highlight is the significant decrease in the number of Apple shares held by Berkshire, which now amounts to nearly half of what was previously reported.
During the past quarter, Berkshire sold approximately half of the Apple shares it held, totaling 390 million shares. This leaves the company with around 400 million Apple shares, making it the highest value investment in the company’s investment portfolio.
In the first quarter of 2024, Berkshire announced the sale of around 115 million Apple shares, representing 13% of what was held at that time. Buffett stated that the reason for selling shares at that time was solely related to tax management, and he still views Apple as the largest investment at least until the end of this year.
This recent sale of Apple shares has increased Berkshire’s cash and equivalents to $2.77 trillion, up from $1.89 trillion in the previous quarter.
Warren Buffett has not provided a specific reason for selling a significant number of Apple shares this time. He began buying Apple shares 8 years ago, which eventually became the company’s largest investment. Berkshire remains a significant shareholder of Apple.
Source: CNBC
TLDR: Berkshire Hathaway, led by Warren Buffett, has reduced its holdings of Apple shares, selling a significant portion in the recent quarter. Despite the sale, Apple remains a key investment for the company.
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