Buffett’s Berkshire Hathaway cuts massive Apple stake by nearly 50% in Q2

Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) has slashed its gigantic stake in iPhone-maker Apple (NASDAQ:AAPL) by nearly half, according to the sprawling conglomerate’s latest quarterly filing on Saturday.

The Omaha, Neb.-based giant said the fair value of its equity investment in Apple (AAPL) was worth $84.2B at the end of the second quarter, compared to $135.4B at the end of Q1.

Those numbers suggest that Berkshire’s (BRK.A)(BRK.B) position in Apple (AAPL) has been slashed to about 400M shares from approximately 789M. That’s a reduction of 49.3%.

Buffett at Berkshire’s (BRK.A)(BRK.B) annual meeting in May had expressed confidence that Apple (AAPL) would most likely remain the conglomerate’s largest stake at the end of the year.

Buffett has also been trimming his stake in number two U.S. lender, Bank of America (BAC), in recent weeks. Just yesterday, he disclosed the sale of another 19.2M shares of the bank between July 30 to August 1.

As per the conglomerate’s Saturday quarterly filing, the fair value of its equity investment in Bank of America (BAC) was worth $41.1B at the end of the second quarter, compared to $39.2B at the end of Q1.

Berkshire’s (BRK.A)(BRK.B) overall cash pile swelled to a record $276.94B as of June 30, 2024, from $188.99B as of March 31, 2024.

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