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Berkshire Hathaway's Stock Hits All-Time High On Strong Q2 Results The stock of Berkshire Hathaway (BRK.A / BRK.B) has closed at an all-time high after the holding company of Warren Buffett reported strong second-quarter financial results.
Berkshire's Class A stock rose 3.4% to close at an all-time high of $551,920 U.S., beating the share's previous high set in March 2022.
The more affordable Class B stock of Warren Buffett's company increased 3.6% to hit a new record close of $362.58 U.S. a share.
Berkshire Hathaway's Class B stock has now increased a total of 24% over the last 12 months.
The record highs for the stock come after Omaha-based Berkshire Hathaway reported that its operating earnings rose 6.6% year-over-year to $10.04 billion U.S. in this year's second quarter.
Berkshire also reported that its cash holdings reached nearly $150 billion U.S. in Q2.
Earnings from the holding company's insurance underwriting business recorded a 74% increase during Q2 to reach $1.25 billion U.S. The insurance business benefited from higher interest rates and lower catastrophe losses.
The strong showing in insurance helped to offset weakness in the BNSF railroad that Berkshire Hathaway owns, which is struggling with lower freight volumes this year.
Meanwhile, Berkshire's massive cash pile grew to $147.38 billion U.S. as of June 30, near record levels and much higher than the $130.62 billion U.S. reported in Q1 of this year.
High interest rates are enabling Berkshire Hathaway to earn big returns on its cash. The conglomerate held more than $97 billion U.S. in short term Treasury bills at the end of Q2.
Buffett previously told shareholders that he's been buying $10 billion U.S. worth of three-month and six-month T-bills every week.
Berkshire also reported a $26 billion U.S. unrealized gain from its investments, and much of that gain came from its holding of Apple (AAPL). The consumer technology company fueled the market rally in Q2, rising nearly 18%.
Berkshire Hathaway currently owns $177.6 billion U.S. of Apple stock.
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