# 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 ![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](https://aiswingx.com/static/covers/brkb-2026q2_cover.jpg?v=1790018025) **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** 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. - 종목: BRK-B (Berkshire Hathaway) - 분기: 2026Q2 · 10-Q - 작성: 2026-09-21 19:14 UTC - 원문: https://aiswingx.com/p/brkb-2026q2 ## 숫자 하나 First-half repurchases $4.8bn (cash-flow statement $4,444m): Q1 $235m → Q2 about $4.2bn. May: 65 A shares (average $716,231), 1,458,312 B shares ($476.01). June: 413 A shares ($733,775), 7,139,881 B shares ($487.98). Q2 after-tax investment gains $12,684m = 49% of net earnings. Cash and Treasury bills $359.2bn. Top five holdings = 66% of the equity portfolio. ## 비유 하나 (구독자 전용) ## 출처 하나 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 ## 다음 분기에 볼 것 (구독자 전용) --- ## 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. --- (End of free preview. What the numbers mean, why it matters, company context, the next-quarter checklist and the arithmetic are available to subscribers — https://aiswingx.com/pricing) ## 관련 뉴스 - [Billionaire Warren Buffett once called Berkshire Hathaway the ‘dumbest’ stock he ever bought](https://news.google.com/rss/articles/CBMi6gFBVV95cUxOaGVBa2JYNFlIQ19OY2oySHp2YmJWLUVoV2g1MGdLand1NlZiVXRoVGtBVUc1SFQxWnlfZ2ZwTUtJc1RVdGJkcWMtMC1fY0Jndm14YXhhTjJTWm5DWlFMUXREZHFXOVZhbzVNWElERVVBd3VoTXZzcUc5T0xKcVcyUlBxcFpTaTNpRE9nS004QWFqZ0xBOGVNVGdRa0xxbU9rVU4tTkRHWUtabS1FWXI4YnlHZXhwSDBZSHpkRy1fTnFwNFFLNmUyaW5rSFdmY0F0Xzhyd2Y5UExTWkRvMG4tRWFCRFZRVlVFWWc?oc=5) — Fortune - [Prediction: Berkshire Hathaway's Operating Earnings Will Top $48 Billion in 2026](https://news.google.com/rss/articles/CBMilwFBVV95cUxPVkNXLXoyakRMUUQ0NUl2XzJyYTlHUXVoNVdBSEdNbDFSXzJCNVVXNjRxc1R0ckd0Mmp4Tk1VUGk2MWowbVI3bVVGR19BMG00TkpWQlAyVDJGNmkzbHJpWXd0Y3NJb2N5dTFkbWpiY1UwNDJjaGxSNkY0eThGVm1STTFPOHUtMlBfMlQzQ0puV0VOSVVMT0Z3?oc=5) — fool.com - [The Stock Market Looks More Expensive Than Ever Before Based on Certain Measures, and Warren Buffett's Timeless Advice Has Never Been More Valuable](https://news.google.com/rss/articles/CBMikAFBVV95cUxNdUhZZXNzU0pQV0hjYl9xV1J6ZzJLT2Q2aV9aaHBKNkEwRG85bFp5dnFrMmR6M21Tb3hIcU8tV2k0WnZCTU9HMmZZNkFoZ19UOVZUZUlONWotZnNEcnRDay1yY29KTFRUdmJiT2FVSkgzaEhZVmNSbHQtTzdNeTNXczRBdndWSFZQejhfM2I5R3Y?oc=5) — fool.com - [End of an Era: 3 Investment Lessons from Warren Buffett That Every Investor Should Follow](https://news.google.com/rss/articles/CBMilAFBVV95cUxNMVZIYS03WXpoNzBhYmZJd0lIUXdjRUN3eEllVWFyRFlXRll3RExkUy1TdHJnTHB4c1AwS0V2SGFiYkpTaWY1bjJOaXpJWXFQc3hPWWkwUzVTWGRMWHRHX3NpNlRCNFZiRWRoejhHTHlLR0psSGhWa2VSclZHTUlJTmwzVXdyTmJsNHkyQ21zMFRMMDlf?oc=5) — fool.com - [Warren Buffett's $35 Billion Bet on Tim Cook's Apple Grew to $185 Billion Pretax. Here's What That Stake Says About Long-Term Investing.](https://news.google.com/rss/articles/CBMilwFBVV95cUxQLV9mdUNSalhNVkNaamx4RXhvWDc0Z0xKWFhWaVRlMER2UGZqcjVIZkpSRGJkOXByX1pZNjZCWVNFSXg2bTZuMmZpSk9ZVTF2TUZjR1BZbmZRVUx3aEQyY2F4c0YtbGdoMmNlbXZER3h5VVdRN0lLeDBJa3g3TXYxeVFUX1QtS3VxV215RDNkXzNQbHpPTnMw?oc=5) — fool.com - [Warren Buffett Just Released a Farewell Letter. It Contains the Most Devastating 4-Word Piece of Investment Advice I've Ever Heard.](https://news.google.com/rss/articles/CBMilwFBVV95cUxNNldFdTJrTUFJV01tenF1R3d6d0ljWlRZQnB4WFo1aGNuOC1kVzBnNXhndy1YaGp4QWpEOWZvUi1RN1gxbUdRejVsdml3YXUyY1pyc3I4cFpuZ3Y1Wk4xNnlXcVJ1VkFMbzlIeDZHOEdDRmZvcWNsY1A1VFZMZjV4T29lLS1VTVpnQ2ZjYzhhN0xDSzFQUDVr?oc=5) — fool.com ## FAQ **Q. What does the resumption of buybacks mean?** 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. **Q. 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. **Q. 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. **Q. 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.