Berkshire Hathaway Q2 Net Income Doubles, Alphabet Becomes Top Holding

Berkshire Hathaway reported second-quarter net income attributable to shareholders of $25.667 billion, versus $12.37 billion a year earlier, a gain of more than 100%, according to Cailian Press via PANews on Aug. 9. Operating profit rose to $12.983 billion from $11.16 billion in the year-ago period. Investment gains climbed to $12.684 billion against $4.97 billion previously. The conglomerate's cash reserves slipped to $364.7 billion at the end of June from $397 billion at the close of the first quarter. The fair value of its fixed-income securities investments reached $17.034 billion as of June 30, comprising $3.002 billion in U.S. Treasuries, $12.668 billion in foreign bonds and $1.364 billion in corporate bonds. Berkshire's top five equity holdings were Alphabet, American Express, Apple, Bank of America and Coca-Cola, with Alphabet as the largest position. Buybacks totaled about $4.5 billion in the second quarter, lifting the first-half figure to roughly $4.8 billion. The report shows a lower cash pile and a sharp jump in investment income.