Buffett said he needed the cash raised to help fund the $32 billion purchase of Precision Carparts, which is his largest-ever takeover.
Elsewhere, Berkshire Hathaway — which has about $101 billion of cash tied up in investments — also trimmed its holding in US supermarket Walmart by 7%.
Buffett, who founded Berkshire Hathaway in the mid-1960’s, has become a bellwether for stocks in the US with a cult following among armchair investors.
Stocks which received a boost from Berkshire Hathaway included computer giant IBM. Around 1.5 million shares were bought in the company during the quarter, equivalent to a 2% rise in the stake.
Wells Fargo remained Berkshire Hathaway’s biggest investment at $24 billion, followed by ketchup maker Kraft Heinz in which it has a stake worh $23 billion.
