General Discussion

First, Buffet is smart enough to not be drawn into to one of Trumps toddler-level shit-fits.

Regarding asset allocation, when BRK says the great majority remains in equities, of course that will be the case. They are not a mutual fund. They are an investment company. They are actively involved in the companies where they have a big ownership position. This is companies like GEICO, Burger King, Kraft, Duracell and many others. Buffet's philosophy has always been long-term ownership. They do occasionally sell their shares. For example, they were early investors in BYD, which is now by far, the biggest EV maker in the world. They recently greatly reduced their share of BYD.

With that in mind, when they make deliberate moves to load up on cash, this is not a casual thing. They are judging that some of the companies in which they had a major stake are not likely to do well over the next several years, and they would rather have their funds more liquid so that they can quickly take a big stake in companies that are likely to become under-valued as Trump crashes the economy and markets.

This isn't too much different from what mutual fund managers do, but BRK has a deeper and longer-term commitment to the companies it invests in. I doubt they would ever have anywhere close to 50% of their assets on the sidelines. But in recent months, they really have shifted to record levels of liquidity.They have about $300 bn liquid out of total assets of $1.2 trillion.

https://www.cnbc.com/2025/04/04/buffett-denies-social-media-rumors-after-trump-shares-wild-claim-that-investor-backs-president-crashing-market.html