(Bloomberg) — Berkshire Hathaway Inc.’s money pile reached a report $276.9 billion within the second quarter as billionaire Warren Buffett slashed its Apple stake by virtually 50% and continued to carry off on acquisitions.
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The corporate’s second-quarter working earnings rose to $11.6 billion, up from $10 billion for a similar interval a yr in the past. Berkshire, in all, offered $75.5 billion price of inventory through the second quarter on a web foundation.
Berkshire has struggled to search out methods to deploy its mountain of money amid a sluggish deal atmosphere. On the agency’s annual shareholder assembly in Omaha in Could, Buffett stated the agency wasn’t in a rush to spend it “until we expect we’re doing one thing that has little or no threat and might make us some huge cash.”
Regulatory filings additionally point out Berkshire trimmed its stake in Financial institution of America Corp. within the second quarter, with the corporate reporting a $41.1 billion stake.
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