Berkshire Hathaway
What matters nowUpdated 5 h ago
- Berkshire's latest disclosed buying is in Lennar: open-market purchases on October 1 and 2, 2026 of about 2.40 million Class A shares, worth roughly $193 million, lifted holdings to 28,438,045 Class A shares 1. Bloomberg puts the stake at about $2.2 billion, roughly 11% of the homebuilder 2, and an amended Schedule 13G followed on October 7 3.
- Leadership changed on September 18, 2026: Warren Buffett became Chairman Emeritus and remains a director, Howard G. Buffett was elected chairman, and Greg Abel, CEO since January 1, 2026, said the board expects Buffett's culture to remain at the heart of Berkshire 4.
- BRK.B traded at a pooled 24/7 venue price of $523.10 on October 13, 2026, up 0.98% from the previous close of $518.05. Recorded moves over the past three months were +3.27% on July 28, -2.21% on July 14 and August 11, -1.83% on August 17 and -1.97% on September 17.
- Key numbers for the twelve months to June 30, 2026: revenue of $384.7 billion (up 3.9% year on year, and 10.0% in the most recent quarter), net income of $85.8 billion, a 22.3% net margin and free cash flow of $24.2 billion. Second-quarter 2026 operating earnings were $1.73 billion for insurance underwriting, $1.56 billion for BNSF and $891 million for Berkshire Hathaway Energy. Over the past 180 days, insiders made two purchases worth about $0.5 million and one sale of 39,700 shares worth about $20.0 million.
- Next: the Q3 2026 results and 10-Q are expected on November 7, 2026 (not yet confirmed), and Form 13F for Q3 holdings is due November 16, 2026. September CPI is due on October 14, 2026, and Polymarket puts a no-change Fed decision after the October 2026 meeting at 81.5%, with a 25 bp increase at 17.5%.
SEC EDGAR Form 4 · Oct 5
Bloomberg (republished by National Mortgage News) · Oct 1
SEC EDGAR Schedule 13G/A · Oct 7
Berkshire Hathaway Inc. news release · Sep 18
Berkshire Hathaway is a holding company that owns insurance companies, the BNSF railroad, Berkshire Hathaway Energy, and a large group of manufacturing, service and retail businesses, and also holds a large public-equity portfolio. Greg Abel became chief executive on January 1, 2026, and Warren Buffett remains chairman.
How it makes money
Berkshire earns money from its operating subsidiaries (insurance underwriting, railroad and utility revenue, and manufacturing, service and retail sales) and from investment income on the insurance float, the premium cash held before claims are paid. Its investment gains and losses swing reported net earnings from quarter to quarter, so traders usually track operating earnings by segment. Surplus cash goes to acquisitions, stock purchases and share repurchases.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Insurance underwriting
Insurance-underwriting earnings were $1.73 billion in the second quarter of 2026.
Insurance float and investment portfolio
The insurance float was about $177.5 billion at June 30, 2026.
BNSF Railway
BNSF operating earnings were $1.56 billion in the second quarter of 2026.
Berkshire Hathaway Energy
Berkshire Hathaway Energy earned $891 million in the second quarter of 2026.
Latest newsAll news →
Berkshire buys about $193 million of Lennar on Oct. 1-2 and lifts stake to 28.4 million Class A shares
Berkshire's Form 4 filed October 5 shows open-market purchases of about 2.40 million Lennar Class A shares and 15,028 Class B shares on October 1 and 2, 2026, worth roughly $193 million.
Bloomberg: Berkshire's Lennar stake reaches about $2.2 billion, roughly 11% of the homebuilder
Bloomberg reported on October 1 that Berkshire's Lennar position is worth about $2.2 billion and about 11% of the company, just behind Vanguard at 11.2%.
Berkshire buys about $54 million of Lennar shares on Sept. 28-30
Berkshire's Form 4 for Lennar shows open-market purchases on September 28, 29 and 30, 2026, totaling about 656,302 Class A and 4,108 Class B shares.
Berkshire adds about $136 million of Lennar shares on Sept. 23-25 purchases
Berkshire's Form 4 for Lennar shows further open-market buying on September 23, 24 and 25, 2026.
Berkshire buys about $212 million of Lennar stock from Sept. 17-21 and becomes a 10% owner
Berkshire Hathaway's Form 4 shows open-market purchases of about 2.67 million Lennar Class A shares and 75,021 Class B shares from September 17 to 21, 2026, at prices of roughly $74.80 to $79.41.
Warren Buffett becomes Chairman Emeritus; Howard Buffett elected Berkshire chairman
Berkshire said Warren Buffett became Chairman Emeritus effective September 18, 2026, and will remain a director.
Products & businesses
Insurance underwriting
Insurance-underwriting earnings were $1.73 billion in the second quarter of 2026.
Insurance float and investment portfolio
The insurance float was about $177.5 billion at June 30, 2026.
BNSF Railway
BNSF operating earnings were $1.56 billion in the second quarter of 2026.
Berkshire Hathaway Energy
Berkshire Hathaway Energy earned $891 million in the second quarter of 2026.
Manufacturing, service and retailing
Manufacturing, service and retailing earned $4.47 billion in the second quarter of 2026.
Share repurchases
Berkshire bought back about $4.8 billion of its own shares in the first half of 2026.
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Insurance Property and casualty insurance and reinsurance, including GEICO, General Re and National Indemnity, plus the investment income earned on the float they hold. | $88.90B | 23.9% | |
| BNSF Railway BNSF Railway, one of the largest freight railroads in North America. | $23.33B | 6.3% | |
| Berkshire Hathaway Energy Utility and energy operations, including the regulated utilities, electric transmission and natural gas pipelines owned through Berkshire Hathaway Energy. | $21.86B | 5.9% | |
| Manufacturing, service and retailing Industrial manufacturing, building products, food distribution (McLane), travel centers (Pilot Travel Centers) and other service and retail businesses. | $199.52B | 53.7% |
Fiscal 2025 · from the annual report
Valuation & fundamentals
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2026 2026-06-30 | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 | Q4 FY2024 2024-12-31 | Q3 FY2024 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $384.69B | $101.81B +10% | $93.67B +4% | $94.23Bd -1% | $94.97B +2% | $92.52B -1% | $89.72B -0% | $94.92Bd +2% | $93.00B -0% |
| Net income | $85.77B | $25.67B +107% | $10.11B +120% | $19.20Bd -3% | $30.80B +17% | $12.37B -59% | $4.60B -64% | $19.69Bd -48% | $26.25B |
| Operating cash flow | $46.63B | $11.21Bd +11% | $10.44B -4% | $11.19Bd +142% | $13.79Bd +665% | $10.09Bd -26% | $10.90B +3% | $4.62Bd -68% | $1.80Bd -87% |
| Capital expenditure | $22.42B | $5.64Bd +16% | $4.99B +16% | $6.20Bd +16% | $5.59Bd +19% | $4.86Bd +7% | $4.28B -3% | $5.35Bd -6% | $4.70Bd -11% |
| Share buybacks | — | $4.21Bd | $235.0M | — | — | — | — | $0d -100% | $0d -100% |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 | FY2023 2023-12-31 | FY2022 2022-12-31 |
|---|---|---|---|---|
| Revenue | $371.44B +0% | $371.43B +2% | $364.48B +21% | $302.02B |
| Depreciation & amortization | $13.48B +5% | $12.86B +3% | $12.49B +15% | $10.90B |
| Interest expense | $5.07B -3% | $5.20B +4% | $5.00B +15% | $4.35B |
| Income tax | $15.20B -27% | $20.82B -10% | $23.02B | −$8.50B |
| Net income | $66.97B -25% | $89.00B -8% | $96.22B | −$22.76B |
| Operating cash flow | $45.97B +50% | $30.59B -38% | $49.20B +32% | $37.35B |
| Capital expenditure | $20.93B +10% | $18.98B -2% | $19.41B +26% | $15.46B |
| Share buybacks | — | $2.92B -68% | $9.17B +17% | $7.85B |
| Total assets | $1.22T | $1.15T | $1.07T | $948.47B |
| Total liabilities | $502.47B | $502.23B | $499.21B | $466.78B |
| Shareholders' equity | $717.42B | $649.37B | $561.27B | $473.42B |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Berkshire buys about $193 million of Lennar on Oct. 1-2 and lifts stake to 28.4 million Class A shares
Berkshire's Form 4 filed October 5 shows open-market purchases of about 2.40 million Lennar Class A shares and 15,028 Class B shares on October 1 and 2, 2026, worth roughly $193 million.
Bloomberg: Berkshire's Lennar stake reaches about $2.2 billion, roughly 11% of the homebuilder
Bloomberg reported on October 1 that Berkshire's Lennar position is worth about $2.2 billion and about 11% of the company, just behind Vanguard at 11.2%.
Berkshire buys about $54 million of Lennar shares on Sept. 28-30
Berkshire's Form 4 for Lennar shows open-market purchases on September 28, 29 and 30, 2026, totaling about 656,302 Class A and 4,108 Class B shares.
Berkshire adds about $136 million of Lennar shares on Sept. 23-25 purchases
Berkshire's Form 4 for Lennar shows further open-market buying on September 23, 24 and 25, 2026.
Berkshire buys about $212 million of Lennar stock from Sept. 17-21 and becomes a 10% owner
Berkshire Hathaway's Form 4 shows open-market purchases of about 2.67 million Lennar Class A shares and 75,021 Class B shares from September 17 to 21, 2026, at prices of roughly $74.80 to $79.41.
Warren Buffett becomes Chairman Emeritus; Howard Buffett elected Berkshire chairman
Berkshire said Warren Buffett became Chairman Emeritus effective September 18, 2026, and will remain a director.
Berkshire Hathaway reports fiscal Q2 2026 results: revenue $101.81B, up 10% from a year earlier
Berkshire Hathaway filed a Form 8-K with the SEC on Aug 11, 2026, 3:52 PM ET, reporting an event dated Aug 8, 2026.
Berkshire Q2 operating earnings rise 16% to $12.98 billion; insurance underwriting falls 13%
Berkshire reported second-quarter 2026 operating earnings of $12.98 billion, up from $11.16 billion a year earlier, led by Manufacturing, service and retailing and BNSF.
Berkshire says Q2 earnings release and 10-Q post Saturday, August 8, around 7:00 a.m. Central
Berkshire said in advance that its second-quarter earnings release and its Form 10-Q would be posted on its website on Saturday, August 8, 2026, at about 7:00 a.m.
Berkshire and Buffett report sale of 182,980 DaVita shares at $199.55 on July 31
A Form 4 filed on August 4 shows Berkshire and Warren Buffett selling 182,980 DaVita common shares on July 31, 2026, at $199.548 each.
Berkshire completes $8.5 billion Taylor Morrison acquisition, merging it with Clayton Properties
Berkshire completed its acquisition of Taylor Morrison for $72.50 per share in cash, a total equity value of about $6.8 billion and enterprise value of about $8.5 billion.
Buffett converts 8,000 Class A shares into 12 million Class B shares for four foundations
Warren Buffett converted 8,000 Class A shares into 12,000,000 Class B shares to donate to four foundations.
Berkshire agrees to buy homebuilder Taylor Morrison for $72.50 per share in cash, about $8.5 billion enterprise value
Berkshire Hathaway agreed on May 31, 2026 to acquire Taylor Morrison Home Corporation for $72.50 per share in cash, a 24% premium to its $58.50 close on May 29.
Berkshire Q1 2026 operating earnings rise 18% to $11.3 billion; shares slip about 1% the next session
Berkshire reported first-quarter 2026 operating earnings of $11,346 million, up from $9,641 million a year earlier, led by insurance-underwriting, BNSF and BHE.
Charles Chang's CFO pay set at $8 million as Marc Hamburg's retirement terms are filed
A May 2026 8-K sets the terms of the CFO handover: Charles Chang succeeds Marc Hamburg as chief financial officer on June 1, 2026, at an annual cash salary of $8 million.
Berkshire issues six tranches of senior notes maturing 2029 to 2056, coupons 2.077% to 4.037%
Berkshire Hathaway Inc.
Oregon appeals court reverses the James v. PacifiCorp wildfire class verdict and sends it back
The Oregon Court of Appeals on April 8, 2026 reversed the class-action verdict against PacifiCorp, a Berkshire Hathaway Energy subsidiary, over the 2020 Oregon wildfires, and remanded the case.
Berkshire resumes share buybacks on March 4, the first repurchases since 2024
Berkshire began repurchasing its Class A and Class B shares on March 4, 2026 under its long-standing policy of buying back stock when management believes the price is below intrinsic value.
Berkshire Hathaway reports fiscal Q4 2025 results: revenue $94.23B, down 1% from a year earlier
Berkshire Hathaway filed a Form 8-K with the SEC on Mar 2, 2026, 5:27 PM ET, reporting an event dated Feb 28, 2026.
Berkshire takes $4.5 billion of Q4 2025 impairments on its Kraft Heinz and Occidental stakes
Berkshire recorded other-than-temporary impairments of $4,495 million in the fourth quarter of 2025 on its Kraft Heinz and Occidental Petroleum investments, and $8,255 million for the full year.
Berkshire Hathaway reports fiscal Q3 2025 results: revenue $94.97B, up 2% from a year earlier
Berkshire Hathaway filed a Form 8-K with the SEC on Nov 3, 2025, 1:48 PM ET, reporting an event dated Nov 1, 2025.
SEC filings
| Oct 7, 26 | SCHEDULE 13G/A | SCHEDULE 13G/A: Passive ownership report (5%+) (amended) | sec.gov ↗ |
| Oct 5, 26 | 4 | Form 4: Insider transaction report | sec.gov ↗ |
| Sep 30, 26 | 4 | Form 4: Insider transaction report | sec.gov ↗ |
| Sep 29, 26 | 4 | Form 4: Jain Ajit (Vice Chairman, Director) — open-market sale 39,700 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Insider transaction report | sec.gov ↗ |
| Sep 25, 26 | SD | SD: Specialized disclosure (conflict minerals) | sec.gov ↗ |
| Sep 21, 26 | 4 | Form 4: Insider transaction report | sec.gov ↗ |
| Sep 21, 26 | 3 | Form 3: Initial insider ownership statement | sec.gov ↗ |
| Sep 4, 26 | 4 | Form 4: Jain Ajit (Vice Chairman, Director) — gift 10 sh | sec.gov ↗ |
| Aug 14, 26 | SCHEDULE 13G/A | SCHEDULE 13G/A: Passive ownership report (5%+) (amended) | sec.gov ↗ |
| Aug 14, 26 | SCHEDULE 13G | SCHEDULE 13G: Passive ownership report (5%+) | sec.gov ↗ |
| Aug 14, 26 | 13F-HR | 13F-HR: Institutional holdings report | sec.gov ↗ |
| Aug 13, 26 | 4 | Form 4: O'Sullivan Michael J. (See Remarks) — open-market buy 488 sh | sec.gov ↗ |
| Aug 13, 26 | 4 | Form 4: Chang Charles C (See Remarks) — derivative/holdings only | sec.gov ↗ |
| Aug 11, 26 | 8-K | 8-K: Results of Operations (Item 2.02) | sec.gov ↗ |
| Aug 10, 26 | 10-Q | 10-Q: Quarterly report for the period ended Jun 30, 2026 | sec.gov ↗ |
| Aug 4, 26 | 4 | Form 4: Insider transaction report | sec.gov ↗ |
| Jul 15, 26 | 4 | Form 4: BUFFETT WARREN E (Director, 10% Owner) — conversion 12,000,000 sh, gift 12,000,000 sh | sec.gov ↗ |
| Jul 15, 26 | SCHEDULE 13D/A | SCHEDULE 13D/A: Activist/controlling ownership report (5%+) (amended) | sec.gov ↗ |
| Jul 2, 26 | 4 | Form 4: Jain Ajit (Vice Chairman, Director) — gift 3 sh | sec.gov ↗ |
| Jun 25, 26 | 11-K | 11-K: Employee stock plan annual report | sec.gov ↗ |
| Jun 22, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jun 22, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jun 22, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jun 18, 26 | 11-K | 11-K: Employee stock plan annual report | sec.gov ↗ |