Warren Buffett’s Berkshire Hathaway Inc (NYSE:BRK.A) cut its stake in Apple Inc (NASDAQ:AAPL, ETR:APC) by 25% in the third quarter, recent filings show.
It is now sitting on 300 million shares worth $67 billion at current prices, which still leaves it one of the leading investors in the iPhone maker.
The company’s filings also highlight a rise in Berkshire’s cash reserves, reaching $325.2 billion in the third quarter, up from $276.9 billion the prior quarter.
Berkshire's earnings report for the third quarter, released on Saturday, showed $10.09 billion in operating income, a decrease from $10.76 billion year-over-year.
The move to liquidate part of its holding in Apple mirrors Berkshire's incremental selling of the stake in Bank of America, which has now fallen below 10%.