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Warren Buffett's Berkshire now has a record $277 billion cash pile after selling spree
Berkshire's holdings in cash and cash equivalents reached a record $276.9 billion at the end of June.
Warren Buffett's Berkshire Hathaway has raised its cash pile to total assets in the June quarter to 25 percent. This level was last seen in 2005 and comes as Berkshire's holdings in cash and cash equivalents reached a record $276.9 billion at the end of June amid a recent selling spree in Apple and BofA shares.
Berkshire disclosed that it had trimmed its holding in Apple Inc. by nearly 50%. The Warren Buffett company has also pared stake in Bank of America trimming by 8.8% since July.
This year in May Warren Buffett said that he was not in a rush to buy more equity, “unless we think we’re doing something that has very little risk and can make us a lot of money.”
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Berkshire's June quarter shareholding also showed small stakes in cosmetics chain Ulta Beauty and aerospace company Heico.
