Warren Buffett provided additional information on his recent stock sales, revealing he sold over 389 million Apple shares in the second quarter. Despite this reduction, Berkshire Hathaway still retains 400 million shares of Apple, making it the largest holding in the conglomerate's portfolio. The precise number of shares sold was confirmed Wednesday, following the release of Berkshire's earnings report earlier this month.
Additionally, Berkshire has been downsizing its stakes in various companies, including Bank of America, Chevron, Capital One, Floor & Decor Holdings, T-Mobile, and Louisiana Pacific. The firm also divested its near $1 billion stake in Snowflake investment. Consequently, Berkshire's already substantial cash reserves have swelled to a record high of $277 billion.
However, Berkshire has increased its investments in insurer Chubb and oil producer Occidental Petroleum and unveiled new smaller stakes in aerospace parts maker Heico Corp. and cosmetics retailer Ulta Beauty. It remains unclear which investment actions were directly made by Buffett and which were made by the other investment managers at Berkshire, though Buffett is typically at the helm of those worth more than $1 billion. Alongside its nearly $300 billion stock portfolio, Berkshire's extensive holdings include insurers like Geico, the railroad BNSF, multiple utilities, and various retail and manufacturing companies such as Dairy Queen and Helzberg Diamonds. (This story was generated by Newser's AI chatbot. Source: the AP)
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