Warren Buffett’s Berkshire Hathaway has significantly reduced its stake in tech giant Apple by nearly 50%, according to its second quarter earnings report released on Saturday.

Berkshire Hathaway’s holdings in Apple dropped from 790 million shares to 400 million shares, valuing the stake at $84.2 billion at the end of the quarter. This sharp selloff is notable given Buffett’s reputation for long-term stock holdings. Apple did not respond to CNN’s request for comment.

Previously, Berkshire Hathaway had reduced its stake in Apple, which boasts a market cap of over $3.3 trillion. In the last three months of 2023, Berkshire sold off 10 million shares of Apple stock, representing about 1% of its holdings. In the first quarter of 2024, it cut its stake in Apple by 13%.

Apple fell 4% over the recent stock market crash.

The Omaha, Nebraska-based conglomerate also reported a record cash pile of nearly $277 billion for the second quarter, up from about $189 billion in the first quarter. Berkshire Hathaway sold off $75.5 billion in stock during the second quarter, including a reduction in its second-largest position, Bank of America, to $41.1 billion.

The earnings report indicated that approximately 72% of Berkshire’s aggregate fair value is concentrated in five companies: American Express ($35.1 billion), Apple ($84.2 billion), Bank of America ($41.1 billion), Coca-Cola ($25.5 billion), and Chevron ($18.6 billion).