"Stock God" Buffett make a mistake? Berkshire Hathaway reduced its holdings of Kraft Heinz stock, cash reserves at Berkshire still at high levels.

"Stock God" Warren Buffett's Berkshire Hathaway continues its conservative investment strategy, continuously reducing stock assets and expanding its cash reserves. According to the second-quarter financial report released on August 2, the group has maintained a net selling trend for stocks for the 11th consecutive quarter, selling $6.92 billion in stocks and buying $3.9 billion this quarter. Berkshire's cash reserves climbed to a historical high of $344 billion at the end of June, continuing to grow from $333 billion at the end of March. Meanwhile, the company has suspended its stock buyback program for the fourth consecutive quarter. It is worth noting that this quarter, Berkshire wrote down about $5 billion in assets related to its holdings in Kraft Heinz, resulting in a $3.8 billion investment loss. In May of this year, Buffett announced that he will step down as CEO at the end of the year, and will be succeeded by Greg Abel, currently responsible for all non-insurance businesses owned by Berkshire. Since this announcement, Berkshire Class A shares have fallen by 12%, while the S&P 500 index has risen by 10% during the same period.