Greg Abel Deploys Over $38 Billion at Berkshire Hathaway

EarningsM&A · Partnership

โดย Insider Monkey·

Summary · why it matters

Berkshire Hathaway became a net buyer of stocks in the second quarter under new CEO Greg Abel, ending 14 consecutive quarters of net selling. The company purchased $23.5 billion of publicly traded equities while selling about $3.7 billion, and repurchased $4.5 billion of its own shares during the quarter. In July, Berkshire deployed at least another $10.1 billion through additional buybacks and the $6.8 billion acquisition of Taylor Morrison Home Corporation. The conglomerate also made a $10 billion investment in Alphabet, and its net liquidity fell to $364.7 billion at the end of June from $380.2 billion at the end of March. Operating earnings rose 16% to $12.98 billion, though GEICO's pre-tax underwriting profit fell 45%.