Billionaire investor Warren Buffett estimates that Berkshire Hathaway‘s cash position dipped to “a little over” $100 billion because of lots of stock buying in the first three months of the year.
“We bought more stocks by a considerable margin than we sold in the first quarter,” Buffett told CNBC’s Becky Quick in an interview that aired on Friday.
Buffett did point out that he’s usually a net-buyer of stocks in the first quarter, but he stressed the “considerable” part this year.
He said Berkshire’s newly revealed purchase of 75 million Apple shares during the first quarter, which added to the conglomerate’s already massive stake in the tech giant, “brought down our cash position moderately.”
