Berkshire Hathaway’s cash pile surpassed $300B

Berkshire Hathaway’s cash reserves soared to a record $325.2 billion by the end of September, up from $276.9 billion in the second quarter. Warren Buffett’s stock-selling strategy partly drove the growth as he sold about 25% of his stakes in Apple and offloaded over $10 billion in shares in Bank of America.

Despite the cash accumulation, the company did not buy any shares for the first time since 2018.

Berkshire sold $36.1 billion worth of stock in the third quarter alone, marking the fourth consecutive quarter of reducing its Apple investment. It remains Buffett’s largest investment, valued at $69.9 billion.

Berkshire’s quarterly operating profit fell 6% to $10.09 billion, primarily due to underwriting losses and increased claims.