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00:02Berkshire Hathaway's operating earnings rose 16% in the second quarter to $12.98 billion,
00:09driven by gains across its energy, railroad, and manufacturing businesses, according to CNBC.
00:16Insurance underwriting earnings fell 13% to $1.73 billion,
00:21while insurance investment income declined 9% to $3.06 billion.
00:27Berkshire repurchased about $4.5 billion of its shares,
00:30up from $235 million in the first quarter under CEO Greg Abel.
00:35Its cash pile fell to $365.5 billion from a record $397.4 billion
00:41as the company deployed capital through buybacks and other investments.
00:46Berkshire became a net buyer of equities in the second quarter
00:49with nearly $20 billion in net purchases, ending 14 consecutive quarters of stock selling.
00:55Alphabet was among its five largest equity holdings by market value.
00:59For all things money, visit Benzinga.com.
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