Berkshire Hathaway confirmed net stock purchases of $23.5 billion in the second quarter, marking its first net buying in fourteen quarters. Only the new $10 billion stake in Alphabet was officially named, leaving $13.5 billion in purchases unidentified in the filings. Greg Abel, now chief executive, immediately exercised his authority by authorizing $4.5 billion in share buybacks, signaling that the stock is undervalued in his view. Operating earnings rose 16% to $13 billion, while cash holdings declined from $397.4 billion to $365.5 billion. The 13F filing expected on August 14 should reveal the identity of the companies targeted by these unidentified purchases.
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