Berkshire Cuts Cash Reserves to $366 Billion

Berkshire Hathaway reduced its liquidity reserves by $31 billion during its second fiscal quarter ended June. The conglomerate's cash fell from $397 billion to nearly $366 billion, marking a rare drawdown after nearly four years of steady accumulation.

Under CEO Greg Abel, the firm spent around $17 billion to expand its position in Alphabet. Berkshire had finished the first quarter with 54.2 million class A shares worth about $15.6 billion, alongside some class C shares. Its combined Alphabet stake is now valued at nearly $36 billion, making it Berkshire's third-largest equity holding behind American Express.

Berkshire also acquired 17.5 million shares of Delta Air Lines for roughly $1.6 billion, raising its count to 57.3 million shares. It added 4.3 million shares of Macy's for around $100 million to more than double that stake, and increased holdings in Lennar and The New York Times Company. In addition, Berkshire repurchased $4.5 billion of its own stock, up from $235 million in the first quarter, while selling approximately $3.7 billion in equities across the quarter.