**Buffett Sells Half of Apple Shares, Boosts Cash Reserves**
Warren Buffett's company, Berkshire Hathaway, has sold half of its Apple shares, raising $84.2 billion in cash and bringing the company's cash reserves to a record $277 billion.
Berkshire Hathaway, where Buffett is the largest shareholder, made the move in the second quarter. Before the sale, Apple shares made up the largest portion of Berkshire’s portfolio, valued at nearly $170 billion. Following the sale, the company now holds $84.2 billion in Apple shares, meaning about 49% of its holdings were sold.
Despite this significant sale, Apple remains the largest company in Berkshire Hathaway's portfolio. The second-largest holding is Bank of America, with $41.1 billion, followed by American Express with $35.1 billion, Coca-Cola with $25.5 billion, and Chevron with $18.6 billion.
The sale of Apple shares has pushed Berkshire’s cash assets to a new record high of $277 billion. Buffett had started reducing Berkshire's stake in Apple late last year and accelerated the pace of sales in early 2024. Despite the sales, Buffett stated in May that Apple remains one of Berkshire's long-term investments.
This large and somewhat unexpected sale has led to speculation, with many wondering if Buffett knows something others don't.
