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(Bloomberg) -- Berkshire Hathaway Inc.’s cash pile reached $325.2 billion in the third quarter, a record for the conglomerate as Warren Buffett continued to refrain from major acquisitions while trimming some of his most significant equity stakes.
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Berkshire once again trimmed its holdings in Apple Inc., the Omaha, Nebraska-based conglomerate said Saturday in a statement. The firm’s stake in the iPhone maker was valued at $69.9 billion at the end of the quarter, down from $84.2 billion in the second quarter, indicating that the company cut its stake by about 25%.
Berkshire’s operating earnings fell 6% from a year earlier to $10.09 billion, as insurance underwriting earnings slumped.
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