Berkshire Hathaway (BRK.B) Stock: Greg Abel Puts $20 Billion to Work – Here’s What he Bought
TLDR
- Berkshire’s cash pile dropped to $364.7 billion, down 4% from its record high of $397.4 billion
- Berkshire became a net stock buyer for the first time in 14 quarters, with $20 billion net equity purchases
- $10 billion went into Alphabet and $6.8 billion into Taylor Morrison Home
- Berkshire repurchased $4.5 billion of its own stock in Q2, plus another $3.3 billion in July
- Operating profit rose 16% to $12.98 billion, though GEICO underwriting profits fell 45%
Greg Abel’s second quarter as Berkshire Hathaway CEO sent a clear message: the waiting is over.
Berkshire Hathaway Inc., BRK-B
Berkshire ended June with $364.7 billion in cash and Treasury bills. That sounds like a lot, and it is. But it marks the first decline in four years, down from a record $397.4 billion in March.
The drop came from real spending. Berkshire bought $23.5 billion in equities and sold $3.7 billion, making it a net buyer for the first time in 14 quarters. Its largest net equity outlay since early 2022.
That $20 billion net purchase included $10 billion more invested in Alphabet. Berkshire also completed its $6.8 billion acquisition of Taylor Morrison Home during the quarter.
… Continue reading the full article at the original source below.
