Warren Buffett has more than $325 billion in cash, while Berkshire Hathaway continues to sell Apple shares

Omaha (US) (AP): Warren Buffett now has more than $325 billion in cash after continuing to unload billions of dollars worth of Apple and Bank of America shares this year and continuing to collect a steady stream of profits from all over Berkshire. Hathaway’s assorted businesses without finding any major acquisitions.

Berkshire said it sold more Apple shares in the third quarter after halving its massive investment in the iPhone maker last quarter. The stake, valued at $69.9 billion at the end of September, remains Berkshire’s largest single investment, but has been cut sharply since late last year, when it was valued at $174.3 billion.

Berkshire said on Saturday that investment gains again drove third-quarter profits to $26.25 billion, or $18,272 per Class A share. A year ago, unrealized losses on paper investments dragged the conglomerate’s earnings from Omaha, Nebraska, to a loss of $12.77 billion, or $8,824 per Class A share.

Buffett has long advised investors to pay more attention to Berkshire’s operating income if they want to get a good sense of how the businesses it owns are doing, because those numbers exclude investments. Berkshire’s profit numbers can vary widely from quarter to quarter, along with the value of its investments, whether the company has bought or sold anything.

Berkshire said its operating profits fell only about 6 percent to $10.09 billion, or $7,023.01 per Class A share. That compares with $10.8 billion, or $7,437, a year ago. $15 per Class A share.

The four analysts polled by FactSet Research predicted that Berkshire would report operating earnings of $7,335.11 per Class A share.

Berkshire’s revenue was little changed at $92.995 billion. A year ago, it reported revenue of $93.21 billion. That number beat the $92.231 billion in revenue that three analysts surveyed by FactSet had predicted.

Berkshire owns a wide range of insurance companies, including Geico, along with BNSF railroad, several major utilities, and a diverse collection of retail and manufacturing businesses, including brands such as Dairy Queen and See’s Candy.