Deals
Berkshire Cash Hoard Swells as Buffett Pares Consumer Stocks
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Berkshire Hathaway Inc.’s cash swelled in the second quarter to its highest level in a year as Chairman Warren Buffett pared bets on consumer-products stocks.
Cash advanced 7.5 percent to $40.7 billion in the three months ended June 30, the Omaha, Nebraska-based company said in an Aug. 3 regulatory filing. Berkshire was a net seller of equities in the quarter as it cut its allocation to companies that make and distribute consumer goods while boosting holdings of financial firms and a group called “commercial, industrial and other.” Individual stocks weren’t listed in the filing.