Berkshire Hathaway currently has a record $277 billion in cash despite a struggling economy.
Second-quarter results show that the investment giant led by Warren Buffett sold a net $75.5 billion of shares during the period.
The new round of sales brings the total amount of shares sold by Berkshire in 2024 to more than $90 billion.
Tech giant Apple came under threat in the second quarter, with the company cutting its stake in the company by nearly 50%.
And early signs indicate Buffett isn't done yet, as Berkshire just trimmed its stake in Bank of America, selling $769 million worth of shares in 12 straight days.
At Berkshire's annual meeting in May, Buffett offered his views on the company's current valuations and growing cash position.
“We'd love to spend it, but we won't do it unless we're confident that [the business] is doing something that has minimal risk and can make us a lot of money.
It's not like I'm starving or anything like that. It's just not all that attractive."
Berkshire's second-quarter operating income reached $11.6 billion, up from $10 billion a year ago.
More interesting news - subscribe
