Berkshire Hathaway registered a big jump in the value of its equity portfolio in the second quarter of 2023, although it was also a big seller of equities.
According to the company’s second-quarter numbers, the conglomerate, which Warren Buffett has managed since the late 1960s, recorded an overall profit of $36 billion in the three months to the end of June - its highest-ever quarterly profit.
These numbers included huge gains on the value of the group’s equity portfolio. Excluding portfolio movements, Berkshire’s operating businesses recorded a 7% increase in operating profit to $10 billion. Investment gains for the period totaled $25.9 billion, compared to a loss of $53 billion in the second quarter of 2022.
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