The Omaha-based Berkshire Hathaway saw its massive cash stockpile shrink for the first time in more than three years as profits soar.
The conglomerate posted net income of $25.67 billion for the second quarter, more than double the year-earlier total of $12.37 billion, reports The Wall Street Journal.
Operating earnings excluding investment gains climbed 16.3% to $12.98 billion from $11.16 billion.
Berkshire Hathaway held $364.7 billion in cash and Treasury bills at the end of June, down 4% from the previous quarter after accounting for amounts owed on some of its short-term government securities.
The decline marked the first quarter-on-quarter drop in Berkshire’s cash holdings in four years.
In Q2, spending drove the cash drop after Berkshire completed its $6.8 billion purchase of homebuilder Taylor Morrison (TMHC) on July 24th at $72.50 per share.
The company also added $10 billion in Alphabet (GOOG/GOOGL) shares as part of $23.5 billion in equity purchases overall while selling $3.7 billion.
Meanwhile, stock repurchases of the firm’s Class A and Class B shares totaled about $4.5 billion during the period.
Berkshire’s top holdings now include Alphabet alongside American Express (AXP), Apple (AAPL), Bank of America (BAC) and Coca-Cola (KO).
The value of its Class A shares recently closed at $780,086, gaining 3.4% year to date, but 3.6% below its all-time high of $809,350 reached in early May 2025, just before Warren Buffett announced his retirement.
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