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In 1965, legendary capitalist Warren Buffett took power of Berkshire Hathaway, a struggling textile maker. He past turned it into an concern conglomerate and 1 of the astir intimately watched companies successful the world.
In May 2025, Buffett announced plans to measurement down arsenic main executive, starting successful 2026. He handed the relation to longtime lieutenant Greg Abel.
On Feb. 28, Abel posted his archetypal shareholder missive arsenic CEO, on with Berkshire Hathaway's Q4 net study and full-year 2025 results.
The 63-year-old paid tribute to Buffett portion vowing that Berkshire Hathaway volition not propulsion backmost connected investing oregon alteration its longstanding strategy.
“We support a fortress-like equilibrium sheet, ensuring Berkshire's instauration is ne'er compromised,” Abel wrote. “We sphere this fiscal spot by utilizing indebtedness sparingly and prudently. Our important liquidity enables america to conscionable our obligations adjacent nether the astir adverse conditions and to respond swiftly erstwhile opportunities arise.”
Buffett volition proceed to play a cardinal role. After stepping off, helium volition inactive service arsenic Berkshire’s chairman, “in the bureau 5 days a week and disposable to america arsenic we underwrite insurance, run our non-insurance businesses and deploy superior including equity investments,” Abel said.
In 2025, Berkshire Hathaway’s Class A shares (BRK.A) roseate 10.85% and Class B (BRK.B) shares gained 10.89%, trailing the S&P 500’s 16.39% instrumentality for the year.
As of Feb. 27, the Class A shares are up 0.29% and B shares are up 0.46% twelvemonth to date, compared with the S&P 500’s 0.49% gain.
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Still, Berkshire follows a worth investing way and ever tells investors to wage small attraction to its short-term performance.
Berkshire remains financially strong, with its currency and U.S. Treasury holdings lasting astatine $373.3 billion, down somewhat from the 3rd quarter's $382 billion.
"While immoderate of this superior is required to enactment our security operations and support Berkshire against utmost scenarios, it besides constitutes our adust powder,” Abel wrote.
Berkshire Hathaway connected Feb. 28 reported a large diminution successful its operating earnings, partially owed to weakness successful its security business.
Earnings from operations were $10.2 cardinal successful Q4, down much than 29% from $14.56 cardinal a twelvemonth ago. For full-year 2025, Berkshire delivered operating net of $44.5 billion, beneath 2024's $47.4 cardinal but supra the $37.5 cardinal mean implicit the past 5 years.
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Berkshire earned $7.2 cardinal from security underwriting past year, a 19.5% driblet from 2024.
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