| Berkshire expected to post 'strong' Q2 earnings Berkshire Hathaway is planning to post its second quarter earning release and 10-Q quarterly report on its website tomorrow morning (Saturday) at around 8 AM ET (7AM Omaha time.)
Barron's expects a "strong" report, with operating earnings up 10% and the company's book value increasing by 7% to $314,000 per Class A share, as of June 30.
The operating profit increase will probably be driven by Burlington Northern Santa Fe. In a sign of strength for freight railroads, United Pacific's operating income surged 50 percent in Q2.  Barron's cites Edward Jones for the book value forecast, which is partially driven by an estimated 10% gain for Berkshire's stock portfolio, including a 12% jump for Apple during the quarter.
Berkshire shares would now be trading at 1.3 times a book value of around $314 thousand, just below their five-year average.
Based on a company filing that updated Berkshire's shares outstanding as of late June, Barron's predicts the company bought back around $6.5 billion of its own stock in the second quarter, about the same as Q1.
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BERKSHIRE STOCK WATCH
  BERKSHIRE'S TOP U.S. STOCK HOLDINGS - Aug. 6, 2021
 Berkshire's top holdings of disclosed publicly-traded U.S. stocks by market value, based on today's closing prices.
Holdings are as of March 31, 2021 as reported in Berkshire Hathaway's 13F filing on May 17, 2021, except for Apple, Bank of America, and U.S. Bancorp, which also include shares held as of March 31, 2021 as disclosed in New England Asset Management's 13F filing on May 17, 2021.
In addition to U.S. stocks, shares held as of December 31, 2020 of China's BYD, as listed in Buffett's 2020 letter to shareholders, are included. The price of those shares in U.S. trading is used to approximate the current market value of the position. The value of the stake as a percentage of the company's market value is fixed at what was listed as of December 31, 2020 in the letter.
The full list of holdings and current market values is available from CNBC.com's Berkshire Hathaway Portfolio Tracker.
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-- Alex Crippen, Editor, Warren Buffett Watch
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