Berkshire Hathaway Trims Apple Stake by 13% Amid Strong Q1 Cash Growth. Warren Buffett’s Berkshire Hathaway saw its sprawling stock portfolio decrease to $336 billion in the first quarter following a $20 billion divestment of stocks, as indicated by the company’s recent earnings report.
During the first quarter, Berkshire Hathaway scaled back its significant Apple stake by 13%, reducing its holding to $135.4 billion from approximately $174 billion, with around 115 million Apple shares sold. Despite this reduction, Apple remains Berkshire’s largest investment, representing about 40% of its $336 billion portfolio with approximately 800 million shares.
As the March quarter concluded, Berkshire Hathaway amassed a substantial cash reserve of $189 billion, up from $167 billion in the previous quarter, equivalent to about 126 billion cans of Buffett’s favorite soft drink, Coca-Cola Cherry. The company sold $20 billion worth of stocks and acquired new positions valued at approximately $2.7 billion during the quarter. Operating profit surged 39% to $11.22 billion from the year-ago period, primarily driven by earnings growth in its flagship insurance business.
Following the release of the earnings report, Warren Buffett, aged 93, addressed shareholders at Berkshire’s annual meeting on Saturday. Notably absent was his longtime partner, Charlie Munger, who recently passed away. Instead, Buffett was accompanied by his designated CEO successor, Greg Abel, and the head of the insurance business, Ajit Jain. During the meeting, Buffett humorously referred to Greg Abel as “Charlie,” showcasing his trademark wit and camaraderie. Berkshire Hathaway Trims Apple Stake by 13% Amid Strong Q1 Cash Growth.
