Berkshire Hathaway

• Berkshire Hathaway's cash and equivalents surged to $168 billion at the end of Q1 2026, its highest level in over a decade, as Warren Buffett continued to reduce equity holdings amid concerns over elevated asset valuations. • The conglomerate reduced its Apple stake by 8% during the quarter and trimmed Bank of America holdings further, citing a lack of compelling investment opportunities in current market conditions. • Investment income from fixed-income holdings generated $3.2 billion in the first quarter alone, demonstrating how Berkshire's massive cash reserve is now earning meaningful returns in a higher-rate environment.

• Berkshire Hathaway disclosed in SEC filings that its position in Apple has grown to $170 billion in market value, reinforcing Apple as the conglomerate's largest single equity holding at approximately 48% of total equity portfolio. • The increase reflects both organic price appreciation of Apple shares and incremental purchases by Warren Buffett's investment team amid the company's strong iPhone 16 sales and services segment growth. • The substantial concentration signals Berkshire's high conviction in Apple's long-term competitive moat, capital allocation discipline, and valuation at current levels, providing a powerful endorsement to institutional investors amid market volatility.