Warren Buffett’s Berkshire Hathaway on Saturday reported net earnings of $29.2 billion in the fourth quarter as well as cash on hand that remains at near-record levels.
The company on Saturday said it earned net income in the quarter of $29.2 billion, or $17,909 per Class A share equivalent, up from a loss of $25.4 billion, or $15,467 a share, the year before.
In his letter Buffet revealed the largest holdings by the percentage of the company owned:
J.P. Morgan Chase JPM 1.9%
Warren Buffett cautions investors against putting too much emphasis on Berkshire Hathaway’s $81.4 billion in net earnings for 2019.
In 2019, the company run by Buffett reported $53.7 billion in unrealized gains on its equity investments.
“That $53.7 billion gain requires comment,” Buffett said.
“It resulted from a new GAAP rule, imposed in 2018, that requires a company holding equity securities to include in earnings the net change in the unrealized gains and losses of those securities. As we stated in last year's letter, neither Charlie Munger, my partner in managing Berkshire, nor I agree with that rule.”