Berkshire's cash level hits a new high, continues to suspend stock buybacks

Warren Buffett sold more stocks in the latest quarter and increased his record cash reserves to $334 billion, but in his highly anticipated annual shareholder letter, Buffett did not explain why he seems to be taking a defensive stance. Instead, Buffett stated that this stance in no way represents a departure from his love for stocks. Despite Berkshire Hathaway holding a large amount of cash, Buffett wrote in the 2024 annual shareholder letter: "Most of your funds are still invested in stocks. This preference will not change." Berkshire sold over $134 billion in stocks in 2024. This was mainly due to the reduction in the size of Berkshire's two largest stock holdings—Apple and Bank of America. Meanwhile, Buffett also seems to believe that his stocks are not attractive. Berkshire continues to suspend buybacks, having not repurchased any stocks in the fourth quarter or the first quarter ending February 10, despite significant growth in operating earnings reported by Berkshire on Saturday