In the third quarter of 2024, Berkshire Hathaway, led by legendary investor Warren Buffett, significantly sold its stock holdings. The most notable move was the sale of 25% of its Apple stock, which contributed significantly to boosting the company's cash reserve to a record $325.2 billion. The move reflects Buffett's strategy, which currently favors a cautious approach to stock investments.
Berkshire Hathaway reduces stake in Apple
In a report Saturday, Berkshire Hathaway said it sold about 100 million shares of Apple $AAPLduring the summer months , bringing its stake down to 300 million shares. Still, Apple remains Berkshire Hathaway's largest stock investment at $69.9 billion. Despite this decline, Buffett has said in the past that Apple will likely continue to be a key part of Berkshire's investment portfolio, but the stock sale made sense given rising capital gains tax rates.
During the third quarter, Berkshire sold a total of $36.1 billion worth of stock, including several billion…