Company: GHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000104889-25-000062
Chunk: 54

Company: Graham Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 54
---
 As of June 30, 2025, the Company owned 422 Class A and 482,945 Class B shares in Berkshire Hathaway valued at $542.2 million, which exceeded 5% of the Company’s total assets. The Company purchased $4.8 million of marketable equity securities during the first six months of 2025. There were no purchases of marketable equity securities during the first six months of 2024. There were no sales of marketable equity securities during the first six months of 2025 and 2024, respectively. The Company donated marketable equity securities in the first six months of 2024, and recorded a $0.4 million gross cumulative realized gain from the donation. The net (loss) gain on marketable equity securities comprised the following:Three Months Ended  June 30Six Months Ended  June 30(in thousands)2025202420252024(Loss) gain on marketable equity securities, net$(11,543)$19,628 $32,258 $123,780 Less: Net gains in earnings from marketable equity securities donated— (102)— (102)Net unrealized (loss) gains in earnings from marketable equity securities still held at the end of the period$(11,543)$19,526 $32,258 $123,678 Investments in Affiliates.  As of June 30, 2025, the Company’ healthcare subsidiary held investments in several other affiliates that Graham Healthcare Group (GHG) actively manages; GHG held a 40% interest in each of the following affiliates: Residential Home Health Illinois, Residential Hospice Illinois, Mary Free Bed at Home, and Allegheny Health Network Healthcare at Home. For the three and six months ended June 30, 2025, the Company recorded $4.1 million and $7.9 million, respectively, in revenue for services provided to the affiliates of GHG. For the three and six months ended June 30, 2024, the Company recorded $4.4 million and $8.5 million, respectively, in revenue for services provided to the affiliates of GHG. As of June 30, 2025, the Company held an approximate 18% interest in Intersection Holdings, LLC (Intersection), and accounts for its investment under the equity method. The Company holds two of the ten seats of Intersection’s governing board, which allows the Company to exercise significant influence over Intersection.