Investing.com — Berkshire Hathaway (NYSE:) sold about a quarter of its stake in Apple Inc (NASDAQ:) in the third quarter, amounting to 100 million shares in the tech giant, a regulatory filing confirmed on Thursday.
Warren Buffet’s company had announced the sale during its third-quarter results earlier this month, with a 13f filing confirming the sale this week.
The stock sale, which took place during the July-September quarter, netted Berkshire more than $100 billion in cash. But Apple still remained the conglomerate’s largest asset, with about 300 million shares worth nearly $70 billion.
The company sold more than 600 million shares of Apple in 2024, bringing its cash position to a record $325 billion as of September 30.
Investors are concerned about Berkshire’s increased cash position, indicating a largely risk-taking mentality for the company. The company’s sale of its Apple stakes also comes as the iPhone maker struggles with slowing device sales despite introducing artificial intelligence features to its latest models. China has been a major pressure point on Apple’s sales.
Thursday’s 13f filing showed that Berkshire added shares to Domino’s Pizza Inc (NYSE:) and Pool Corporation (NASDAQ:) in the third quarter.
But the conglomerate remained a net seller of shares this quarter, selling about 235 million shares in Bank of America Corp (NYSE:). The company also sold almost its entire stake in Brazilian cosmetics chain Ulta Beauty Inc (NASDAQ:), while scaling back its investments in Capital One Financial Company (NYSE:), Charter communications Inc (NASDAQ:) and Now Holdings Ltd. (NYSE:).
