New Delhi: Ahead of the Fed meeting, legendary investor Warren Buffett's company Berkshire Hathaway Inc. has increased its cash level to $325.2 billion in the third quarter (July-September 2024), a new record for the group. Buffett has avoided major acquisitions and reduced some of his major stocks, due to which this cash reserve has reached such a high level.

Berkshire Hathaway recently reduced its stake in Apple Inc. again, Bloomberg reported. As of the end of the third quarter, the value of the company's stake in Apple was $69.9 billion, down from $84.2 billion in the second quarter. This indicates that Berkshire has reduced its stake in Apple by about 25%. Berkshire

first disclosed its stake in Apple in 2016. Since then, the company has spent $31.1 billion on about 908 million shares of Apple. Buffett recently said that Apple is a better business than the other two companies—American Express and Coca-Cola—but he also indicated that Apple may not remain his top holding.


In the third quarter, Berkshire made net sales of shares worth $34.6 billion. Buffett said he finds current market prices too high to make attractive deals. He also said that Berkshire is not rushing to spend unless they feel they are making an investment that has very low risk.

This year, Berkshire's shares have risen 25%, giving it a total market value of $974.3 billion. In August, the company's market cap crossed $1 trillion for the first time. However, underwriting income has fallen by 69% due to losses in the company's insurance business.