As a result, Buffett is now sitting on nearly US$277 billion ($424 billion) in cash, up from what was already a record $294 billion just three months earlier.
slashed Berkshire Hathaway's massive Apple stake in a move that could prove unsettling for the broader stock market — both because the investor is so revered and because there had been little positive financial news lately.
However, he has trimmed the Apple stake over the past year and has recently also sold off some of his stock in Bank of America and Chinese EV maker BYD while doing very little buying. Buffett has consistently lavished praise on Apple CEO Tim Cook, who attended Berkshire's annual meeting in Omaha in May, and talked about the way consumers are feverishly devoted to their iPhones and don't like to switch.
By that measure, Berkshire's operating earnings grew more than 15 per cent to $17.8 billion, or $12,395 per Class A share, from $15.4 billion, or $10,638 per Class A share, a year ago.
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