5 Highlights From Berkshire’s Third Quarter Report
by
dkass
·
November 2, 2024
- Operating earnings in Q3 declined by 6% primarily as a result of underwriting losses from Hurricane Helene.
- Cash increased to $325 billion from $277 billion. It exceeds its equity investments of $271 billion, and equals 1/3 of its market value ($974 billion).
- No share repurchases in Q3 vs. $345 million in Q2 and $2 billion in Q1.
- Berkshire sold $36 billion in equities and purchased $1.5 billion in Q3.
- Berkshire reduced its stake in Apple during Q3 by 25% from 400 million shares to 300 million shares. Berkshire has now reduced its stake in Apple by 2/3 over the past year from a peak of over 900 million shares.
