Berkshire Hathaway: Q3 operating profit was $12.71 billion; 65% of equity investments concentrated in five companies

According to Caixin Global on November 7, Berkshire Hathaway reported Q3 2023 operating earnings of $12.71 billion, down 5.8% year-on-year; net income attributable to shareholders totaled $22.112 billion, below $30.796 billion in the same period last year; net earnings per Class A equivalent common share amounted to $15,502; and net investment income stood at $9.407 billion—down $7.904 billion year-on-year (compared to $17.311 billion in Q3 2022). As of September 30, the company’s cash and cash equivalents totaled $356.9 billion; its total cash reserves rose to a record $377.4 billion, up from the prior quarter. During the quarter, Berkshire repurchased $9.6 billion worth of its own shares. Additionally, as of September 30, approximately 65% of the fair value of its equity investment portfolio was concentrated in five companies: Alphabet, American Express, Apple, Bank of America, and Coca-Cola.