Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) on Saturday registered a solid increase in fourth-quarter operating earnings, driven by strength in its insurance businesses, both in underwriting and investment income.
The Omaha-based company’s quarterly operating earnings of $8.48 billion rose 28% from $6.63 billion in the year-ago quarter.
For the full year of 2023, operating earnings increased to $37.350 billion, up 21.06% from $30.853 billion in the prior year.
Approximately 79% of the aggregate fair value was concentrated in five companies, as of the end of 2023:
American Express Company (NYSE:AXP) – $28.4 billion
Apple Inc. (NASDAQ:AAPL) – $174.3 billion
Bank Of America Corporation (NYSE:BAC) – $34.8 billion
Coca-Cola Company (NYSE:KO) – $23.6 billion
Chevron Corporation (NYSE:CVX) – $18.8 billion
At year end, Berkshire owned 27.8% of Occidental Petroleum’s (NYSE:OXY) common shares and owned warrants that, for more than five years, give the firm the option “to materially increase” its ownership at a fixed price, it said. Berkshire expects to …