Buffett’s Berkshire Hathaway Reports Robust First-Quarter Operating Profit, Despite Lack of Suitable Acquisition Targets.

Berkshire Hathaway, the investment company founded by Warren Buffett, reported a robust first-quarter operating profit of $11.22 billion. This growth was primarily driven by the performance of its insurance businesses, including Geico. Despite recent acquisitions such as an insurance company and shares in Occidental Petroleum, Berkshire still holds massive cash reserves, with reserves reaching a record $189 billion.

Berkshire bought back its own shares worth $2.6 billion during the first quarter due to a lack of suitable acquisition targets. Despite this, Buffett’s reduced holdings in Apple during the period did not significantly impact Berkshire’s financial position. In fact, Buffett has been known to reduce his holdings in companies that have reached their peak value or are no longer undervalued.

Buffett’s investment company has consistently grown its cash reserves quarter after quarter due to its disciplined approach to investing and diversification across multiple industries. The underwriting result of Berkshire Hathaway’s insurance holdings saw a substantial increase primarily due to Geico’s performance, which is one of Buffett’s flagship companies. Investment income in the insurance sector also grew significantly during the first quarter.

Although the first-quarter net profit fell by 64 percent from the previous year due to non-recurring entries, Berkshire Hathaway’s financial position remains strong thanks to its diverse portfolio and disciplined approach to investing. Buffett remains known as the “Oracle of Omaha,” and his investment company continues to be one of the most successful and respected in the industry today.