The famed investor's conglomerate dumped $13.3 billion of stocks, and only bought $2.9 billion worth, meaning it sold $10.4 billion of equities on a net basis.
Still, Berkshire's stock sales fueled a $2 billion increase in its cash pile during the first three months of this year, to $130.6 billion — its highest level in more than a year. Despite its big-ticket acquisition, Berkshire has slowed its overall spending this year. It piled a record $68 billion into stocks last year, or $34 billion on a net basis. It also completed its $12 billion purchase of insurer Alleghany, and repurchased nearly $8 billion of stock in 2022.
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