**Warren Buffett’s Berkshire Hathaway Sells Large Stakes, Accumulating Record Cash Pile**

Warren Buffett's investment company, Berkshire Hathaway, has been selling off significant portions of its stock holdings, including a quarter of its stake in Apple, according to regulatory filings disclosed Thursday. This strategic unloading has bolstered Berkshire's cash reserves to unprecedented levels for the ninth successive quarter.

Regulatory documents revealed that Berkshire Hathaway's position in Apple has diminished considerably, with the firm's stake reducing from almost $175 billion at the start of the year to approximately $70 billion by the end of September. This move was hinted at in Berkshire’s third-quarter earnings report earlier this month, but the complete details had not been officially released until now. Despite this sell-off, Apple still constitutes around 25% of Berkshire's $266 billion equity portfolio.

In addition to offloading Apple shares, Berkshire has sold around 235 million shares of Bank of America. These sales were partly anticipated, as Berkshire's ownership of more than 10% of the bank required it to report such transactions throughout the quarter.

The sell-offs have significantly increased Berkshire Hathaway’s cash reserves, which surged to a record-breaking $320.3 billion in the third quarter, up from $271.5 billion the previous quarter. Of this enormous cash pile, $288 billion is invested in short-term Treasury bills. This consistent accumulation of cash has been observed over the last nine quarters, reflecting a cautious market approach by Buffett.

Investors closely monitor Berkshire's extensive cash reserves, viewing it as potential "dry powder" for future investments. One suggested reason for this accumulation is Buffett's belief that the market may not offer substantial growth opportunities at the moment.

Crucially, the stock market capitalization-to-GDP ratio, known as the "Buffett Indicator," has surged to a record 198.1% of the U.S. GDP, with the stock market's total value reaching $58.13 trillion. Buffett has historically warned against such high ratios, notably referring to it as "playing with fire" when it approaches 200%, similar to the conditions in 1999 and early 2000.

As this strategic reshuffling continues, the financial world keenly observes Buffett’s next moves, particularly in a market environment that he has signaled could be perilously overvalued.