The latest Forbes magazine (Sept. 3, 2007, or read online at: “So Long, Warren“) discusses something very interesting: several solid mutual funds, which have been longtime devotees of Warren Buffett, are selling shares, with one fund liquidating its entire position.

Sequoia Fund (SEQUX) sold $650m since the beg. of 2005, lowering its BRK.A weighting to 26%, from 35%. Forbes notes Sequoia lightened its position for (1) diversification purposes and (2) due to Buffett’s age (turning 77 on Aug. 30).

Weitz Value (WVALX) and Weitz Partners Value (WPVLX) decreased their positions in BRK.A by a few tenths of a percent from 7.6% each. Although, it appears the Partners Value fund could be down into the 5% range. Weitz reportedly sold some shares in order to buy other holdings.

Davis Financial Fund of Davis Advisors is the one that sold its entire position in BRK.A, for $49m with a $20m profit.

Berkshire Hathaway (BRK.A) had a nice afternoon recovery to gain 1.9% (+$2,200.00) to close at a record: $120,700.00. Safe to call this a “flight to quality” with a mountain of cash? BRK.A is up more than 10% in August and by a similar amount for the year, far better than the 5% gain for the Dow Jones Industrials and 2% gain for the S&P 500.