As 'Stock God' Buffett continues to sell stocks frantically and no longer buy back stocks, the cash reserve of his conglomerate, Berkshire Hathaway, exceeded 300 billion US dollars in the third quarter.

According to the earnings report released last Saturday morning, as of the end of September, the cash reserves of the conglomerate headquartered in Omaha increased from 276.9 billion US dollars in the second quarter to a record high of 325.2 billion US dollars.

With the 'Oracle of Omaha' Buffett selling most of his two major holdings (Apple and Bank of America), the cash is piling up. Berkshire sold about a quarter of its huge Apple holdings in the third quarter, marking the fourth consecutive quarter of reducing Apple shares. Meanwhile, since mid-July, Berkshire has made over 10 billion US dollars in profit by selling its long-held Bank of America stocks.

Overall, with Berkshire selling stocks worth 36.1 billion US dollars in the third quarter, the 94-year-old investor continues to be in a selling mood.

During this period, Berkshire did not repurchase any company stocks in the selling spree, marking the first time since the company changed its policy in 2018. With Berkshire's stock outperforming the market, hitting a historical high, its buyback activity has slowed down earlier this year.

The company only repurchased stocks worth 0.345 billion US dollars in the second quarter, far below the 2 billion US dollars repurchased in the previous two quarters. Berkshire stated that it will repurchase stocks when Buffett 'believes the repurchase price is below Berkshire's intrinsic value (conservatively determined).'

Berkshire Class A shares have risen by 25% this year, exceeding the 20.1% ROI of the S&P 500 index year-to-date. The company's market cap surpassed the 1 trillion US dollars milestone in the third quarter, reaching a historical high.

In the third quarter, Berkshire's operating profit totaled $10.1 billion, a decrease of about 6% compared to the same period last year, due to soft insurance underwriting. Operating profit includes profits from Berkshire's wholly-owned subsidiaries. According to FactSet's consensus, this number is slightly below analysts' expectations.

Due to expectations of easing inflation and continuous rate cuts by the Federal Reserve, the economy is expected to land smoothly. The US stock market has surged this year, but Buffett has maintained a conservative stance. However, there has been a recent rebound in the interest rate market, with the 10-year US Treasury yields rising to above 4% last month.

Prominent investors like Paul Tudor Jones have begun to worry about the expanding fiscal deficit, as neither of the two presidential candidates in this week's election showdown is expected to cut spending to address this issue. Buffett hinted this year that he will sell some stocks as he believes capital gains tax will have to be raised at some point to cover the growing deficit.