In fact, Berkshire actually holds two S&P 500 index funds in its portfolio: the Vanguard S&P 500 ETF ( VOO 0.42%) and the SPDR S&P 500 ETF Trust ( SPY 0.43%). One top analyst on Wall Street predicts the S&P 500 will hit 15,000 by 2030, and if he's right, those index funds could deliver a return of 158% from here!

With that in mind, the company's stock purchases totaled $4.3 billion and its stock sales totaled $97.1 billion in the first half of 2024. That means Berkshire's net stock sales reached a record $93 billion through the June quarter.

Warren Buffett’s recent trimming of stock positions in Apple and Bank of America has raised questions about what it means for the current market and economy. Bill Smead, a top fund manager, sees parallels between Buffett’s actions now and his warnings before the dot-com crash in 1999.