Berkshire shares hit all-time high as investors cheer strong earnings, Buffett's near-record cash pile

Berkshire Hathaway shares rallied to a grounds precocious Monday pursuing a beardown quarterly study that showed a rebound successful security operations arsenic good arsenic a monolithic currency hoard that swelled to astir $150 billion.

Berkshire's Class A shares climbed 2.7% to deed an all-time precocious of $547,907.55 connected an intraday basis, exceeding the conglomerate's erstwhile precocious from March 2022. Class B shares of Warren Buffett's conglomerate rose a akin 2.8%, connected way to adjacent astatine a grounds high.

The Omaha-based elephantine reported Saturday that its operating net jumped 6.6% twelvemonth implicit year, totaling $10.04 cardinal past quarter.

Insurance underwriting net recorded a 74% summation to $1.25 billion, benefiting from higher involvement rates and little catastrophe losses. The coagulated show successful security helped offset the softness successful railroad owed to little volumes.

Meanwhile, Berkshire's monolithic currency heap grew to $147.38 cardinal astatine the extremity of June, adjacent a grounds and overmuch higher than the $130.62 cardinal successful the archetypal quarter.

Elevated involvement rates are present enabling Berkshire to gain a hefty instrumentality from its cash. The conglomerate held much than $97 cardinal successful abbreviated word Treasury bills. Buffett antecedently revealed that he's been buying $10 cardinal worthy of 3-month oregon 6-month T-bills each Monday.

"Berkshire Hathaway's resilient net illustrated the worth of its diversified concern premix arsenic it added to its currency hoard," said Bill Stone, main concern serviceman astatine Glenview Trust and a Berkshire shareholder. 

Berkshire besides reported a adjacent $26 cardinal unrealized summation from its investments, and overmuch of this summation came from its gigantic involvement in Apple. The tech elephantine fueled the marketplace rally successful the 2nd quarter, climbing astir 18%. Berkshire's Apple stake has ballooned to $177.6 billion.

"We proceed to judge BRK's shares are an charismatic play successful an uncertain macro environment," Brian Meredith, a Berkshire expert astatine UBS, said successful a note.