From Investing.com: 2024-08-03 10:50:31

Warren Buffet has increased cash at Berkshire Hathaway to nearly $277 billion and sold half of its Apple stake, amid record quarterly operating profit and economic concerns. Berkshire got defensive due to macroeconomic data, selling $75.5 billion of stocks in the quarter. Second-quarter profit from businesses rose 15% to $11.6 billion.

Profit at BNSF fell 3% due to lawsuits. Berkshire Hathaway Energy’s profit fell 17% due to PacifiCorp utility unit in Oregon wildfires. PacifiCorp set aside $2.7 billion for wildfire losses. Berkshire’s Class A shares closed at $641,435 Friday, up 18% this year, outperforming S&P 500’s 12% increase.



Read more at Investing.com: Berkshire halves Apple stake, boosts cash to $277 billion even as operating profit sets record By Reuters