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Berkshire Hathaway Sells US$75.5B of Shrs in 2Q; Position in Apple Nearly Halved
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Warren Buffett's flagship investment company, Berkshire Hathaway (BRK.A.US), cut its position in Apple (AAPL.US) by nearly half in the second quarter, selling about 390 million shares of Apple, bringing Berkshire Hathaway's cash reserves to a record US$276.9 billion for the quarter. At the end of June, Berkshire Hathaway still held about 400 million Apple shares, valued at about US$84.2 billion. Berkshire Hathaway netted a total of US$75.5 billion in stock sales in the second quarter. Its operating profit added 16% YoY to US$11.6 billion, while profit attributable to shareholders fell 15.5% to US$30.348 billion. Berkshire Hathaway also largely reduced its position in Bank of America (BAC.US) during the quarter, slashing its position by 8.8% since mid-July. AAStocks Financial News |
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