Berkshire Hathaway, under new CEO Greg Abel, invested $10 billion in Alphabet, Google’s parent company, and repurchased approximately $4.5 billion of its own shares in the second quarter. The conglomerate’s cash holdings shrank to $365.5 billion from nearly $400 billion at the end of March. Operating profit grew to $12.983 billion from $11.16 billion a year earlier. Net income more than doubled to $25.667 billion, helped by a significant paper gain on investments.
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