Warren Buffett’s Berkshire Hathaway resumed selling shares of Apple in the second quarter, offloading a stake worth more than $4bn as the billionaire investor continued to cut one of his most profitable trades.
Berkshire disclosed it sold 20mn shares between April and June, cutting its stake to 280mn shares, a position worth $57.4bn. They are the first sales by Berkshire since the third quarter of 2024, after a selling-spree saw Buffett cut the company’s stake in Apple by more than two-thirds.
The 2023-24 sales allowed the so-called Oracle of Omaha to lock in massive profits on an investment that the sprawling conglomerate first made in 2016. Berkshire invested proceeds from the stock sales largely in short-term US Treasuries, pushing its cash pile to record levels.