Warren Buffett’s Berkshire Hathaway now holds its smallest position in Apple, $AAPL, since 2017.
Currently, Berkshire Hathaway owns just 400 million shares of $AAPL, a 56% drop from the 906 million shares held in 2023. Since March 31st, Berkshire has reduced its Apple holdings from $135.4 billion to $84.2 billion. The rest of Berkshire’s top 5 holdings remain unchanged, according to Zerohedge. This indicates that Buffett specifically chose to sell $AAPL. Meanwhile, Berkshire Hathaway only bought back $345 million of its own stock in Q2, the lowest amount since 2018.
Last quarter, Berkshire Hathaway sold a staggering $75.5 billion worth of stock, making it the largest quarterly sale in the company’s history, according to Zerohedge.
Buffett is now sitting on a record $277 billion in cash. To put this in perspective, Berkshire Hathaway now owns about 4% of all Treasury bills issued to the public. They even hold more T-Bills than the $195 billion on the Fed’s balance sheet. When Warren Buffett holds more T-Bills than the Fed itself, it’s clear he’s concerned. Brace yourself.
Now, about the housing market.
U.S. pending home sales dropped by 5.7% year-over-year in July, the largest decline in 9 months. Houston, Atlanta, and Minneapolis saw the biggest drops, with declines of 30.5%, 16.1%, and 15.2%, respectively. Pending home sales are now officially down 30% since 2021, despite mortgage rates falling to 6.8% from 7.2% in May. Additionally, 6.8% of homes on the market saw price drops in July, according to Redfin. Is the housing market finally cooling off?
submitted by /u/XGramatik
[link] [comments]