Berkshire bought back $4.8bn of stock in the first half — mostly in Q2, at $476–$488 per B share — and half of its $25.7bn quarterly profit is marks on its stock portfolio
Q2 2026 10-Q: net earnings $25,667m (a year earlier $12,370m), including after-tax investment gains of $12,684m. In May and June the company bought 478 Class A and 8.6m Class B shares; the standard is 'when the CEO, after consulting the Chairman, believes the price is below intrinsic value'. Cash and Treasury bills $359.2bn; the five largest holdings (Alphabet, American Express, Apple, Bank of America, Coca-Cola) are 66% of the equity portfolio. OxyChem bought for $9.4bn in January, Taylor Morrison for $6.8bn in July
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Berkshire Hathaway Form 10-Q for Q2 2026: statement of earnings, MD&A 'after-tax earnings summary (by segment, investment gains)', Part II Item 2 'Issuer repurchases (monthly shares and average price)', MD&A 'financial condition and liquidity (cash and Treasury bills $359.2bn, OxyChem and Taylor Morrison acquisitions, borrowings)', equity-securities note (five largest holdings 66%), insurance float
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Berkshire Hathaway (BRK-B) reported net earnings attributable to shareholders of $25,667m for the second quarter of 2026, double the $12,370m of a year earlier. In the 10-Q filed on August 10, the Part II share-repurchase table — empty since 2024 — has numbers again: in May and June the company bought 478 Class A and 8,598,193 Class B shares in the market.
What happened
Berkshire Hathaway (BRK-B) is a holding company that owns insurance, railroad, energy and manufacturing businesses and runs a large stock portfolio.
Its Q2 2026 quarterly report (10-Q) shows net earnings attributable to shareholders of $25,667m, double the $12,370m of a year earlier; first-half net earnings were $35,773m.
The Part II repurchase table reads: no purchases in April. May: 65 Class A shares (average $716,231) and 1,458,312 Class B shares (average $476.01). June: 413 Class A shares (average $733,775) and 7,139,881 Class B shares (average $487.98). MD&A says the company "acquired $4.8 billion of treasury stock in the first six months of 2026, most of which was in the second quarter". Repurchases on the cash-flow statement were $235m in Q1 and $4,444m for the first half.
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Under the program, purchases occur only when the CEO judges the share price to be below intrinsic value. The 10-Q discloses monthly share counts and average prices, not the reasoning. The Q2 amount (about $4.2bn) is 1.2% of cash and Treasury bills ($359.2bn). How to read the signal is explained in the subscriber section.
Why did net earnings double?
After-tax investment gains were $12,684m in Q2 ($4,970m a year earlier), and the prior-year quarter included a $3,760m impairment of the Kraft Heinz stake. Excluding both, after-tax operating earnings by segment totalled $12,983m, up 16% from $11,160m.
Did cash fall?
About $9.4bn was spent on OxyChem on January 2, and Taylor Morrison Home was acquired for about $6.8bn on July 24 (Q3). Cash and Treasury bills at June 30 were $359.2bn.
Where can I verify these numbers?
On SEC EDGAR: Berkshire's Q2 2026 Form 10-Q (accession 0001193125-26-341032), the Part II Item 2 repurchase table, the MD&A after-tax earnings summary and liquidity section, and the equity-securities note.
How aiSwingX™ wrote this
We read the filing on SEC EDGAR in full — statements, notes, MD&A. Press releases and news are not used as sources.
Every figure is reconciled to its location in the filing and to XBRL data. One mismatch means no publication.
An editor reviews before publication; any later change is recorded in the revision history.
Berkshire Hathaway Form 10-Q for Q2 2026: statement of earnings, MD&A 'after-tax earnings summary (by segment, investment gains)', Part II Item 2 'Issuer repurchases (monthly shares and average price)', MD&A 'financial condition and liquidity (cash and Treasury bills $359.2bn, OxyChem and Taylor Morrison acquisitions, borrowings)', equity-securities note (five largest holdings 66%), insurance float · SEC EDGAR · This article is not investment advice. Disclaimer
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