Berkshire Hathaway shareholders walk by a video screen at the company's annual meeting in Omaha May 4, 2013. REUTERS/Rick Wilking/File PhotoThough its businesses fared better overall, Berkshire signaled caution about valuations, as its cash stake swelled to a record $157.2 billion in the third quarter, when it sold $5.3 billion more stocks than it bought.
Results included $23.5 billion of losses from investments, primarily reflecting a 12% decline in the stock price of Apple, in which Berkshire had owned a $177.6 billion stake. Operating profit rose 41% to $10.76 billion, or $7,444 per Class A share, from $7.65 billion a year earlier. Berkshire also benefited from a relatively quiet Atlantic hurricane season, which reduced catastrophe losses, unlike in 2022 when it lost $2.7 billion from Hurricane Ian.
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