Subject: Re: Buffett sold more Apple
As of 6/30, Berkshire was down to $84B worth of Apple stock, compared to $135B three months earlier.
The trimming contributed to a robust increase of cash on hand.

It really is something to see.
If there were a sentence in the report that summed up the quarter, it's this one:
"Our sales of equity securities produced taxable gains of $59.6 billion in the second quarter..."

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Perhaps I am a bit slow today and somebody can help me out.
Note 7, page 11, where that quote is from, shows:
"Investment gains (losses) on securities sold during the period ... 6,633" [million, for 2024-Q2 only]

That is presumably the total of all realized gains and all realized losses in the quarter.
If the taxable gain on sold positions (essentially Apple) was on the order of $60bn, and the net of all realized sales was more like $7bn, does that mean that other things were sold realizing a loss of $53 billion?
Can't be. What am I missing? The tax treatment isn't all THAT much different from the reporting treatment.

Jim