Overview
- Operating earnings rose 34% to $13.485 billion, led by a surge in insurance underwriting profit to about $2.37 billion.
- Cash and short-term investments climbed to roughly $381.6–$381.7 billion, with no share repurchases for a fifth straight quarter.
- Berkshire sold about $12.5 billion of stocks and bought $6.4 billion, marking a 12th consecutive quarter of net selling; a 13-F will detail holdings later this month.
- Total earnings including investment gains increased 17% to $30.8 billion, while net investment income declined 13% as short‑term interest rates fell.
- The update comes after the $9.7 billion OxyChem purchase agreement and just before Warren Buffett hands the CEO role to Greg Abel, a shift cited in the stock’s recent underperformance.