Berkshire Hathaway

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Berkshire Hathaway originated as a textile manufacturer formed in 1955 from the merger of Hathaway Manufacturing Company and Berkshire Fine Spinning Associates.{{Cite book |last=Sloane |first=Paul |title=Lateral Thinking for Every Day: Extraordinary Solutions to Ordinary Problems |publisher=Kogan Page |isbn=978-1-3986-0797-2 |location=London | pages=31 |year=2023}}{{Cite book |last=Lowenstein |first=Roger |authorlink=Roger Lowenstein |title=Buffett: The Making of an American Capitalist |publisher=Random House |isbn=978-0-8041-5060-6 |pages=123 |year=2013}}{{Cite book | last=Mead | first=Adam J. |title=The Complete Financial History of Berkshire Hathaway: A Chronological Analysis of Warren Buffett and Charlie Munger's Conglomerate Masterpiece | publisher=Harriman House Limited |year=2021 |isbn=978-0-85719-913-3 |language=en}}{{cite web |url=https://www.tti.com/content/ttiinc/en/about/company/about-berkshire-hathaway.html |title=Berkshire Hathaway Company Information |publisher=TTI, Inc.}}{{Cite book | last=Kenny |first=Graham |title=Diversification Strategy: How to Grow a Business by Diversifying Successfully |publisher=Kogan Page |isbn=978-0-7494-5664-1 |location=London |pages=160 | year=2009}} After the merger, Berkshire Hathaway had 15 plants employing over 12,000 workers with over $120 million in revenue, and was headquartered in New Bedford. However, seven of those locations were closed by the end of the 1950s, accompanied by large layoffs.

In 1962, Warren Buffett began buying Berkshire Hathaway stock for his investment fund, Buffett Partnership Ltd., at $7.50 per share, anticipating that as the company liquidated textile mills there would come a tender offer when he could sell the shares at a profit. A year later, Buffett's fund owned 7% of the company.{{Cite news | url=https://www.businessinsider.com/warren-buffett-a-monumentally-stupid-decision-2015-2 | title=Warren Buffett: In 1964, I made 'a monumentally stupid decision' over $0.125 | first=Sam | last=Ro | work=Business Insider | date=February 28, 2015}} In 1964, Buffett offered to sell his shares back to the company for $11.50 each. Seabury Stanton, the manager of Berkshire Hathaway, told Buffett orally that he had a deal. A few weeks later, Warren Buffett received the tender offer in writing, but the tender offer was for only $11.375 per share. Buffett later admitted that this lower, undercutting offer made him angry.{{cite news | url=https://www.cnbc.com/2010/10/18/warren-buffett-buying-berkshire-hathaway-was-200-billion-blunder.html | title=Warren Buffett: Buying Berkshire Hathaway Was $200 Billion Blunder | first=Alex | last=Crippen | publisher=CNBC | date=October 18, 2010}} Instead of selling at the slightly lower price, Buffett bought more of the stock at an even higher price to take control of the company and fire Stanton; Stanton and his son resigned in 1965.{{Cite news | url=https://www.wsj.com/articles/SB10001424052702304579404579232351285066532 | title=Mayor Tries to Save Warren Buffett's Old Berkshire Hathaway Headquarters | first1=Kris | last1=Hudson | first2=Anupreeta | last2=Das | work=The Wall Street Journal | date=December 1, 2013 | url-access=subscription}} However, this left Buffett's fund with a major interest in a declining textile business.

Buffett has described purchasing the Berkshire Hathaway textile company as the biggest investment mistake he had ever made, denying him compounded investment returns of about $200 billion over the subsequent 45 years. He has estimated that had he invested the same money directly in insurance businesses instead of indirectly via Berkshire Hathaway (due to what he perceived as a slight by an individual), it would have paid off several hundredfold.{{cite news | url=https://www.cnbc.com/2010/10/18/cnbc-transcript-warren-buffetts-200b-berkshire-blunder-and-the-valuable-lesson-he-learned.html | title=CNBC Transcript: Warren Buffett's $200B Berkshire Blunder and the Valuable Lesson He Learned | first=Alex | last=Crippen | publisher=CNBC | date=October 18, 2010 | archive-url=https://web.archive.org/web/20180929000257/https://www.cnbc.com/id/39724884 | archive-date=September 29, 2018 | url-status=live}} In 1985, the company's last textile operations were shut down.{{cite web | url=https://www.berkshirehathaway.com/letters/1985.html | title=Letter to Shareholders | first=Warren | last=Buffett | authorlink=Warren Buffett | publisher=Berkshire Hathaway | date=March 4, 1986}}

In 1963, Franklin Otis Booth Jr. invested $1 million in the company and in 1968, David Gottesman invested in the company. The investments made both individuals billionaires.{{Cite news | url=https://www.latimes.com/archives/la-xpm-2008-jun-17-me-booth17-story.html | title=L.A. Times executive made billions investing with Buffett | first=Jocelyn Y. | last=Stewart | work=Los Angeles Times | date=June 17, 2008}}

{{See also|List of assets owned by Berkshire Hathaway}}

In March 1967, Berkshire acquired National Indemnity Company, based in Omaha, Nebraska, for $8.6 million in the first acquisition by the company under Buffett's control and the company's entrance into the insurance business. National Indemnity was founded in 1940 by Jack Dabney Ringwalt.{{Cite news | url=https://www.nytimes.com/2015/02/28/business/dealbook/after-50-years-oracle-of-omaha-looks-back-on-less-prescient-moves.html | last=Gelles | first=David | title=After 50 Years, Oracle of Omaha Looks Back on Less Prescient Moves | work=The New York Times | date=February 28, 2015 | issn=0362-4331 | url-access=limited}} In 2012, National Indemnity acquired workers' compensation insurer GUARD for $221 million.{{Cite news | title=Guard Insurance sold for $221 million to Buffett Company | url=https://www.timesleader.com/archive/39139/stories-guard-insurance-sold-for-24221-million-to-buffett-company196075 | work=Times Leader | date=June 2, 2015}}

Berkshire acquired See's Candies in 1972 for $25 million.{{Cite news | url=https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-dream-business-is-sees-candies-2019-7-1029916323 | title=Warren Buffett's favorite business is a little chocolate maker with an 8000% return. Here are 5 reasons why he loves See's Candies. | first=Theron | last=Mohamed | work=Business Insider | date=July 12, 2019}} It produces boxed chocolates and other confectionery products in two large kitchens in California. See's revenues are highly seasonal, with approximately 50% of total annual revenue earned in the months of November and December.{{Cite news |url=https://thehustle.co/how-a-small-candy-company-became-warren-buffetts-dream-investment/ |title=Why a small candy company is Warren Buffett's 'dream' investment |last=Crockett |first=Zachary | work=The Hustle |date=May 13, 2022}} By 2019, the $25 million investment had returned over $2 billion, or an 8000% return, to Berkshire.

In 1976, Berkshire first invested in GEICO, at a time when it was facing financial difficulty and had a very low stock price.{{Cite news | url=https://www.cnbc.com/2023/05/04/berkshire-hathaway-is-outperforming-in-turmoil-but-geico-is-in-trouble.html | title=Berkshire Hathaway is outperforming during turmoil, but Warren Buffett's favorite child Geico is in trouble | first=Yun | last=Li | publisher=CNBC | date=May 4, 2023}}

In 1977, Berkshire purchased the Buffalo Evening News and resumed publication of a Sunday edition of the paper that had ceased in 1914. After the morning newspaper Buffalo Courier-Express ceased operation in 1982, the Buffalo Evening News changed its name to The Buffalo News and began to print morning and evening editions. It now prints only a morning edition.{{cite news | url=https://www.poynter.org/business-work/2023/buffalo-news-owner-lee-enterprises-cuts-layoffs-outsourcing-berkshire-hathaway/ | title=The Buffalo News was the crown jewel of Warren Buffett's news empire. Now it's just another Lee paper. | first=Angela | last=Fu | publisher=Poynter Institute | date=April 20, 2023}} Berkshire formed BH Media Group with a purchase of the Omaha World-Herald in December 2011,{{cite news | url=https://omaha.com/special_sections/world-herald-at-150-latest-milestone-marks-great-change/article_28454cf7-ba10-5b96-b673-98e7c8ab9c74.html | title=World-Herald at 150: Latest milestone marks great change | first=David | last=Hendee | work=Omaha World-Herald | date=November 15, 2015 | url-access=subscription}} which included six other daily newspapers and several weeklies across Nebraska and southwest Iowa.{{cite news | url=https://www.bloomberg.com/news/2011-11-30/buffett-s-berkshire-agrees-to-buy-hometown-newspaper-omaha-world-herald.html |title=Berkshire Hathaway to Buy Omaha World-Herald Newspaper | first=Andrew | last=Frye | work=Bloomberg News |date=November 30, 2011 | url-access=subscription |archive-url=https://web.archive.org/web/20130822203042/http://www.bloomberg.com/news/2011-11-30/buffett-s-berkshire-agrees-to-buy-hometown-newspaper-omaha-world-herald.html|archive-date=August 22, 2013|url-status=live}} In June 2012, Berkshire purchased 63 newspapers from Media General, including the Richmond Times-Dispatch and Winston-Salem Journal, for $142 million in cash.{{cite news | url=https://deadline.com/2012/05/media-general-shares-soar-after-warren-buffett-agrees-to-buy-its-newspapers-273958/ |title=Media General Shares Soar After Warren Buffett Agrees To Buy Its Newspaper | first=David | last=Lieberman | work=Deadline Hollywood |date=May 17, 2012 |archive-url=https://web.archive.org/web/20170730014530/http://deadline.com/2012/05/media-general-shares-soar-after-warren-buffett-agrees-to-buy-its-newspapers-273958/ |archive-date=July 30, 2017|url-status=live}} In 2012, Berkshire Hathaway bought Texas dailies The Bryan-College Station Eagle and the Waco Tribune-Herald.{{cite news |url=https://www.bloomberg.com/news/articles/2012-06-22/berkshire-adds-waco-newspaper-expanding-media-wager |title=Berkshire Adds Waco Newspaper, Expanding Media Wager |author1=Noah Buhayar |author2=Steven Norton | work=Bloomberg News |date=June 22, 2012 | url-access=subscription}} In 2013, the company purchased the Tulsa World, the Greensboro, North Carolina-based News & Record, Virginia's Roanoke Times, and Press of Atlantic City.{{cite news |url=https://tulsaworld.com/news/local/govt-and-politics/article_295d41f3-2c1d-5625-9862-bb784f429006.html |title=Buffett: Local papers have healthy future | first=Wayne | last=Greene | work=Tulsa World | date=March 17, 2013 |url-status=live |archive-url=https://web.archive.org/web/20130811025239/https://www.tulsaworld.com/article.aspx/buffett_local_papers_have_healthy_future/20130317_16_a1_cutlin795785/|archive-date=August 11, 2013}} In 2014, Graham Holdings Company sold its Miami television station, ABC affiliate WPLG to BH Media in a cash and stock deal.{{cite news | url=https://www.adweek.com/tvspy/warren-buffetts-berkshire-hathaway-wplg-graham-holdings/ | title=Warren Buffett's Berkshire Hathaway to Acquire WPLG From Graham Holdings | first=merrill | last=knox | work=AdWeek | date=March 12, 2014}}{{Cite news | url=https://www.miamiherald.com/news/business/article1961273.html | title=Warren Buffett's Berkshire Hathaway to buy WPLG-Channel 10 | first=Nancy | last=Dahlberg | date=March 13, 2014}} In June, 2018, Lee Enterprises and Berkshire Hathaway reached a five-year agreement to allow Lee Enterprises to manage Berkshire Hathaway's newspaper and digital operations.{{cite news | url=https://www.cnbc.com/2018/06/26/warren-buffett-hatches-deal-with-lee-enterprises-for-newspapers.html | title=Warren Buffett loves his newspapers, he just wants someone else to manage them for him | first=Liz | last=Moyer | publisher=CNBC | date=June 26, 2018}} In 2020, Lee Enterprises acquired BH Media Group's publications and The Buffalo News for $140 million in cash, retaining WPLG.{{cite press release | url=https://www.globenewswire.com/news-release/2020/03/16/2001071/0/en/Lee-Enterprises-completes-acquisition-of-Berkshire-Hathaway-newspaper-operations.html | title=Lee Enterprises completes acquisition of Berkshire Hathaway newspaper operations | publisher=GlobeNewswire | date=March 16, 2020}}{{Cite news |url=https://www.nytimes.com/2020/01/29/business/media/warren-buffett-newspapers.html | last=Merced | first=Michael J. de la |title=Warren Buffett Will Sell His Newspaper Empire | work=The New York Times | issn=0362-4331 | date=January 29, 2020 | url-access=limited |archive-url=https://web.archive.org/web/20200129141017/https://www.nytimes.com/2020/01/29/business/media/warren-buffett-newspapers.html | archive-date=2020-01-29 | url-status=live}} In conjunction with the sale, Berkshire lent $576 million to Lee.

In 1983, Berkshire acquired Nebraska Furniture Mart for $60 million.{{Cite news | url=https://www.cnbc.com/2019/03/01/warren-buffett-and-his-relationship-with-retail-legend-rose-blumkin.html | title=Warren Buffett's model for aspiring business managers — a retail legend known as 'Mrs. B' | first=Michelle | last=Fox | publisher=CNBC | date=March 1, 2019}}{{Cite news | url=https://www.businessinsider.com/warren-buffett-on-nebraska-furniture-mart-2014-3 | title=Warren Buffett on Nebraska Furniture Mart | work=Business Insider | date=March 1, 2014 | url-access=subscription}} In 2000, Nebraska Furniture Mart purchased Homemakers Furniture.{{Cite news | url=https://www.nytimes.com/2000/09/15/business/berkshire-unit-is-buying-furniture-retailer.html | title=Berkshire Unit Is Buying Furniture Retailer | agency=Associated Press | work=The New York Times | date=September 15, 2000 | url-access=limited}}

In 1986, Berkshire acquired Scott Fetzer Company, a diversified group of 32 brands that manufactures and distributes products for residential, industrial, and institutional use, including Ginsu knives and World Book Encyclopedia. It included Kirby Company, which was sold in 2021, Wayne Water Systems, and Campbell Hausfeld products.{{Cite news | url=https://link.cnbc.com/public/24542134 | title=Berkshire unit quietly sells door-to-door vacuum cleaner company | publisher=CNBC | date=July 23, 2021}} Campbell Hausfeld was transferred to Marmon, also a Berkshire subsidiary, in 2015.

In January 1986, Berkshire acquired Fechheimer Brothers, owner of Flying Cross, which manufactures public safety uniforms, and Vertx, a civilian tactical clothing company.{{cite web | url=https://www.berkshirehathaway.com/letters/1986.html | title=Letter to Shareholders | first=Warren | last=Buffett | authorlink=Warren Buffett | publisher=Berkshire Hathaway | date=February 27, 1987}}

In 1991, Berkshire acquired H.H. Brown Shoe Group.{{Cite web | url=https://www.berkshirehathaway.com/letters/1991.html | title=Chairman's Letter - 1991 | first=Warren | last=Buffett | authorlink=Warren Buffett | publisher=Berkshire Hathaway}}

In May 1995, Berkshire acquired RC Willey Home Furnishings.{{Cite news | url=https://www.nytimes.com/1995/05/25/business/company-news-buffett-group-to-buy-r-c-willey-home-furnishings.html | title=Company News; Buffett Group to Buy R. C. Willey Home Furnishings | agency=Bloomberg News | work=The New York Times | date=May 25, 1995 | url-access=limited}} In June 1997, Berkshire acquired Star Furniture.{{Cite news | url=https://www.bizjournals.com/houston/stories/1997/06/23/daily4.html | title=Buffett buying Star Furniture | work=Houston Business Journal | date=June 24, 1997 | url-access=subscription}}

In January 1996, Berkshire acquired full ownership of GEICO, acquiring the 49% of the company that it did not then own for $2.3 billion.{{Cite news | url=https://www.nytimes.com/1995/08/26/business/buffett-moves-to-acquire-all-of-geico.html | title=Buffett Moves To Acquire All of Geico | first=Michael | last=Quint | work=The New York Times | date=August 26, 1995 | url-access=limited}} GEICO, headquartered in Chevy Chase, Maryland, primarily offers private passenger automobile insurance marketed directly to individual consumers in the United States.{{cite web | url=http://edgar.secdatabase.com/799/95015099000379/filing-main.htm | title=Berkshire Hathaway Inc, Form 10-K, Annual Report | publisher=SECDatabase | date=March 30, 1999 | archive-url=https://web.archive.org/web/20130522091240/http://edgar.secdatabase.com/799/95015099000379/filing-main.htm | archive-date=May 22, 2013 | url-status=live}} The company is known for its advertising characters including a gecko and the GEICO Cavemen.

File:FlightSafety International C-17 Globemaster III full flight simulator at Joint Base Pearl Harbor-Hickam.jpg full flight simulator at Joint Base Pearl Harbor–Hickam]]

In February 1997, Berkshire acquired FlightSafety International (FSI), a pilot training company founded in 1951 by Albert Lee Ueltschi and headquartered at LaGuardia Airport in Flushing, New York. It uses flight simulators and is the largest provider of professional aviation training services.{{Cite news | url=https://aviationweek.com/berkshire-hathaway-completes-acquisition-fsi | title=BERKSHIRE HATHAWAY COMPLETES ACQUISITION OF FSI | first=GORDON A. | last=GILBERT | work=Aviation Week | date=February 1, 1997}}{{cite news | url=https://www.flyingmag.com/news/albert-lee-ueltschi-father-modern-aviation-training-dies-95/ | title=Albert Lee Ueltschi, the Father of Modern Aviation Training, Dies at 95 |last=Pope |first=Stephen | work=Flying | date=October 19, 2012}}{{Cite news | url=https://www.nytimes.com/1996/10/16/business/berkshire-will-acquire-flightsafety.html | title=Berkshire Will Acquire Flightsafety | first=Charles V. | last=Bagli | work=The New York Times | date=October 16, 1996}}{{Cite news | url=https://www.latimes.com/archives/la-xpm-1996-10-16-fi-54241-story.html | title=Buffett to Buy Pilot-Training Firm, in His First Big Deal of 1996 | first=TOM | last=PETRUNO | work=Los Angeles Times | date=October 16, 1996 | url-access=limited}}

In October 1997, Berkshire acquired Dairy Queen, based in Edina, Minnesota, for $585 million. It franchises approximately 6,000 stores operating under the names Dairy Queen, Orange Julius, and Karmelkorn that sell dairy desserts, beverages, prepared foods, blended fruit drinks, popcorn, and other snack foods.{{Cite news | url=https://www.latimes.com/archives/la-xpm-1997-oct-22-fi-45317-story.html | title=Buffett to Acquire Dairy Queen Chain for $585 Million | work=Los Angeles Times | date=October 22, 1997 | url-access=limited}}{{Cite news | url=https://www.washingtonpost.com/archive/business/1997/10/22/an-investment-king-buys-dairy-queen/4dae57cb-b198-4c92-8924-4fc06a7a6c2a/ | title=AN INVESTMENT KING BUYS DAIRY QUEEN | first=Steven | last=Pearlstein | newspaper=The Washington Post | date=October 21, 1997 | url-access=subscription}}

In July 1998, Berkshire Hathaway acquired NetJets, formerly Executive Jet Aviation, for $725 million in cash.{{cite news | url=https://money.cnn.com/1998/07/23/deals/buffett/ | title=Buffett lands jet firm | publisher=CNN | date=July 23, 1998}}{{Cite news | url=https://www.nytimes.com/1998/07/24/business/company-news-berkshire-hathaway-to-buy-executive-jet-inc.html | title=Berkshire Hathaway to Buy Executive Jet Inc. | agency=Reuters | work=The New York Times | date=July 24, 1998 | url-access=limited}} NetJets is the world's largest provider of fractional ownership programs for general aviation aircraft. In 1986, NetJets created the fractional ownership of aircraft concept and introduced its NetJets program in the United States with one aircraft type. In 2019, the NetJets program operated more than 10 aircraft types with a fleet size of greater than 750.{{Cite news | url=https://www.indianapolismotorspeedway.com/news-multimedia/news/2019/05/30/netjets-official-private-aviation-partner-of-indycar-2019 |title=NetJets Named as Official Private Aviation Partner of INDYCAR, IMS | publisher=Indianapolis Motor Speedway |date=May 30, 2019}}

In December 1998, Berkshire acquired Gen Re, headquartered in Stamford, Connecticut, for $22 billion.{{Cite news | url=https://www.propertyandcasualty.com/doc/berkshire-hathaway-general-re-to-close-merger-0001 | title=Berkshire Hathaway, General Re To Close Merger | publisher=Property and Casualty | date=December 18, 1998}}{{cite news | url=https://money.cnn.com/1998/12/17/companies/hathaway/ | title=Berkshire merger tax-free | publisher=CNN | date=December 17, 1998}} Berkshire paid for the acquisition with Class A shares valued at $58,400 each; Buffett later said he overpaid, despite strong performance by General Re.{{Cite news | url=https://www.fool.com/investing/2017/03/05/warren-buffetts-696-billion-mistake-and-what-he-le.aspx | title=Warren Buffett's $69.6 Billion Mistake -- And What He Learned From It | first=Matt | last=Frankel | work=The Motley Fool | date=March 5, 2017}}

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In 1999, Berkshire acquired MidAmerican Energy Holdings. At the time of purchase, Berkshire's voting interest was limited to 10% of the company's shares, but this restriction ended when the Public Utility Holding Company Act of 1935 was repealed in 2005. It owns Northern Powergrid, which operates in the UK.{{cite web | url=https://www.sec.gov/Archives/edgar/data/1081316/000119312514441370/d836928dex211.htm |title=Berkshire Hathaway Energy Company Subsidiaries and Joint Ventures | publisher=U.S. Securities and Exchange Commission}} In 2005, it acquired PacifiCorp for $5.1 billion in cash, and assumed $4.3 billion in PacificCorp debt and preferred stock.{{cite news | url=https://www.nbcnews.com/id/wbna7962826 | title=Buffett buys PacifiCorp for $5.1 billion cash | agency=Associated Press | publisher=NBC News | date=May 24, 2005}} MidAmerican was rebranded as Berkshire Hathaway Energy (BHE) in April 2014.{{Cite news | url=https://www.reuters.com/article/berkshirehathaway-midamerican-namechange-idUSL2N0NM21620140430 | title=Buffett's MidAmerican Energy adopts Berkshire name | last=Stempel | first=Jonathan |publisher=Reuters |date=April 30, 2014}} The division owns a residential real estate brokerage business, which, in March 2013, was rebranded as HomeServices of America, a division of Berkshire Hathaway Energy.{{cite news | url=https://www.inman.com/2014/12/29/warren-buffetts-real-estate-franchise-network-poised-to-expand/ | title=Berkshire Hathaway HomeServices kicks off next phase of expansion | first=Paul | last=Hagey | publisher=Bradley Inman | date=December 29, 2014}} In addition to brokerage services, it provides mortgage loan originations, title insurance and closing services, home warranty, property insurance and casualty insurance and other related services. The company has acquired several residential real estate brokerages including Long & Foster, acquired in September 2017.{{Cite press release | url=https://newsroom.longandfoster.com/news/homeservices-america-acquires-long-foster-companies/ | title=HomeServices of America Acquires The Long & Foster Companies | publisher=Long & Foster | date=September 7, 2017}}

In October 1999, Berkshire acquired Jordan's Furniture for an estimated $200 million to $300 million.{{Cite news | url=https://www.bizjournals.com/boston/stories/1999/10/11/daily1.html | title=Berkshire Hathaway unit to acquire Jordan's Furniture | work=Boston Business Journal | date=October 11, 1999}}

CORT Business Services Corporation was acquired in February 2000 by Wesco Financial Corporation, an 80.1% owned subsidiary of Berkshire and is the largest U.S. provider of rental furniture, accessories and related services in the "rent-to-rent" segment of the furniture rental industry.{{Cite news |url=https://www.latimes.com/archives/la-xpm-2000-jan-15-fi-54236-story.html |title=Wesco to Buy Furniture Renter Cort | work=Los Angeles Times |date=January 15, 2000 | url-access=limited}}

In May 2000, Berkshire acquired Ben Bridge Jeweler, a chain of jewelry stores established in 1912 with locations primarily in the western United States.{{cite news | url=https://www.bizjournals.com/seattle/stories/2000/05/15/daily13.html | title=Warren Buffett buys Ben Bridge Jeweler | work=Seattle Business Journal | date=May 18, 2000}} Helzberg Diamonds, a chain of jewelry stores based in Kansas City that began in 1915, was acquired by Berkshire in 1995 after a chance run in between Buffett and Barnett Helzberg on a street in New York City.{{cite news | url=https://www.nytimes.com/1995/03/11/business/company-news-berkshire-hathaway-to-buy-jewelry-store-chain.html | title=Berkshire Hathaway to Buy Jewelry Store Chain | agency=Reuters | work=The New York Times | date=March 11, 1995 | url-access=limited}}

In June 2000, the company acquired Justin Brands, the parent company of Justin Boots, Acme Boots, and Acme Brick for $600 million in cash.{{Cite news | url=https://www.oklahoman.com/story/news/2000/06/21/justin-industries-purchased-berkshire-hathaway-acquisition-includes-state-acme-brick-plants/62193169007/ | title=Justin Industries purchased Berkshire Hathaway acquisition includes state Acme Brick plants | work=The Oklahoman | date=June 21, 2000}}{{Cite news | url=https://money.cnn.com/2000/06/20/deals/berkshire/ | title=Buffett's latest buy: bricks | publisher=CNN | date=June 20, 2000}} Headquartered in Fort Worth, Texas, Acme manufactures and distributes clay bricks (Acme Brick), concrete block (Featherlite), and cut limestone (Texas Quarries). Justin Brands also owns Chippewa Boots, Nocona Boots, and Tony Lama Boots.{{cite web | url=https://www.berkshirehathaway.com/subs/justin.html | title=Justin Brands | publisher=Berkshire Hathaway | archive-url=https://web.archive.org/web/20131222020740/http://www.berkshirehathaway.com/subs/justin.html | archive-date=December 22, 2013 | url-status=live}}

In December 2000, Berkshire acquired Benjamin Moore & Co., headquartered in Montvale, New Jersey. Moore formulates, manufactures, and sells architectural coatings that are available primarily in the United States and Canada. Buffett agreed not to sell the products through major retail chains.{{Cite news | url=https://fortune.com/2014/09/17/warren-buffett-benjamin-moore/ | title=The wrath of Warren Buffett: How Benjamin Moore almost broke his promise | first=Colleen | last=Leahey | work=Fortune | date=September 17, 2014}}

In January 2001, Berkshire acquired 87% of Dalton, Georgia-based Shaw Industries. It acquired the remaining 12% in January 2002. Shaw is the world's largest carpet manufacturer based on both revenue and volume of production and designs and manufactures over 3,000 styles of tufted and woven carpet and laminate flooring for residential and commercial use under approximately 30 brand and trade names and under certain private labels.{{cite news | url=https://www.nytimes.com/2002/01/22/business/company-news-berkshire-hathaway-acquires-remainder-of-shaw.html | title=COMPANY NEWS; BERKSHIRE HATHAWAY ACQUIRES Remainder of Shaw | agency=Associated Press | work=The New York Times | date=January 22, 2002 | url-access=limited}}

In February 2001, Berkshire acquired Johns Manville, established in 1858 and a manufacturer of fiberglass wool insulation products for homes and commercial buildings, as well as pipe, duct, and equipment insulation products.{{Cite news | url=https://money.cnn.com/2000/12/20/deals/johnsmanville/ | title=Buffett to buy Manville | publisher=CNN | date=December 20, 2000}}

In July 2001, Berkshire acquired a 90% equity interest in MiTek, headquartered in Chesterfield, Missouri, which makes engineered connector products, engineering software and services, and manufacturing machinery for the truss fabrication segment of the building components industry.{{cite press release | title=Berkshire Hathaway Inc. Acquires MiTek Inc | url=https://www.berkshirehathaway.com/news/jun1201.html | publisher=Berkshire Hathaway | date=June 12, 2001 | archive-url=https://web.archive.org/web/20110926222840/http://www.berkshirehathaway.com/news/jun1201.html | archive-date=September 26, 2011 | url-status=live}} In May 2008, Mitek acquired Hohmann & Barnard, a fabricator of anchors and reinforcement systems for masonry.{{Cite web | url=https://casetext.com/case/heckmann-bldg-prods-inc-v-hohmann-barnard-inc | title=Heckmann Bldg. Prods. Inc. v. Hohmann & Barnard, Inc. | work=CaseText | date=June 1, 2012}} In October 2008, Mitek acquired Blok-Lok of Toronto, Canada. On April 23, 2010, Mitek acquired the assets of Dur-O-Wal from Dayton Superior.{{Cite news | url=https://masonrymagazine.com/Default?pageID=5024 | title=Hohmann & Barnard Buys Dur-O-Wall | first=Dan | last=Kamys | publisher=Mason Contractors Association of America | date=April 26, 2010}}

In February 2002, Berkshire acquired Albecca, headquartered in Norcross, Georgia, operating under the Larson-Juhl name. Albecca designs, manufactures, and distributes custom framing products, including wood and metal molding, matboard, foamboard, glass, equipment, and other framing supplies.{{Cite news | url=https://www.bizjournals.com/atlanta/stories/2002/03/04/story2.html | title=Buffett on Ga. buying spree | first=Meredith | last=Jordan | work=Atlanta Business Journal | date=March 4, 2002 | url-access=subscription}}

In April 2002, Berkshire acquired Fruit of the Loom for $835 million in cash. It acquired Russell Corporation in August 2006, for $600 million.{{Cite news | url=https://www.law.com/dailyreportonline/almID/1202552526372/ | title=Russell merger with Berkshire Hathaway overwhelmingly approved | work=Law.com | date=August 2, 2006}} Fruit of the Loom also acquired Brooks Sports in 2006.{{Cite news | url=https://finance.yahoo.com/news/how-warren-buffett-helped-save-a-company-on-the-brink-of-bankruptcy-183326248.html | title=How Warren Buffett saved Brooks Running Co. | first=Alexis | last=Christoforous | work=Yahoo! Finance | date=May 11, 2016}}

In September 2002, Berkshire acquired Garanimals for $273 million.{{Cite news | url=https://www.wsj.com/articles/SB1025660717580786600 | title=Berkshire Hathaway to Buy Garan in $273.1 Million Deal | work=The Wall Street Journal | date=July 3, 2002 | url-access=subscription}}

In October 2002, Berkshire acquired The Pampered Chef, the largest direct seller of kitchen tools in the United States. Products are researched, designed, and tested by The Pampered Chef, and manufactured by third-party suppliers. From its headquarters in Addison, Illinois, The Pampered Chef utilizes a network of more than 65,000 independent sales representatives to sell its products through home-based party demonstrations, principally in the United States.{{Cite news | url=https://www.chicagobusiness.com/article/20020923/NEWS/20006634/buffett-to-buy-out-pampered-chef | title=Buffett to buy out Pampered Chef | publisher=Crain Communications | last=Quigley | first=Kelly | date=September 23, 2002 | url-access=subscription}}

Also in October 2002, Berkshire also acquired CTB International.{{Cite news |url=https://www.nytimes.com/2002/11/01/business/ctb-shareholders-approve-berkshire-deal.html |title=CTB Shareholders Approve Berkshire Deal | work=The New York Times |date=November 1, 2002 | url-access=limited}}{{Cite press release | url=https://www.ctbinc.com/ctb-international-corp-announces-agreement-to-be-acquired-by-berkshire-hathaway/ | title=CTB International Corp. Announces Agreement To Be Acquired by Berkshire Hathaway | publisher=CTB International | date=August 19, 2002}} CTB, headquartered in Milford, Indiana, is a designer, manufacturer, and marketer of systems used in the grain industry and in the production of poultry, hogs, and eggs. Products are produced in the United States and Europe and are sold primarily through a global network of independent dealers and distributors, with peak sales occurring in the second and third quarters.

In May 2003, Berkshire acquired McLane Company from Walmart.{{Cite news | url=https://www.nytimes.com/2003/05/03/business/wal-mart-agrees-to-sell-food-supplier.html |title=Wal-Mart Agrees to Sell Food Supplier |last=Hays |first=Constance L. | work=The New York Times |date=May 3, 2003 |url-access=limited}} The company later acquired Professional Datasolutions and Salado Sales. McLane provides wholesale distribution and logistics services in all 50 states and internationally in Brazil to customers that include discount retailers, convenience stores, quick-service restaurants, drug stores and movie theatre complexes.{{Cite web |url=https://www.ncsla.org/pdf/news/Welcome_our_newest_member-McLane.pdf |title=Welcome our newest member - McLane | publisher=National Conference of State Liquor Administrators | date=September 6, 2012}}

In August 2003, Berkshire Hathaway acquired Clayton Homes, a maker of manufactured housing, modular homes, storage trailers, chassis, intermodal piggyback trailers and domestic containers, headquartered near Knoxville, Tennessee, for $1.7 billion.{{Cite news | url=https://www.nytimes.com/2003/07/31/business/buffett-wins-battle-to-buy-clayton-homes.html | title=Buffett Wins Battle to Buy Clayton Homes | first=Andrew Ross | last=Sorkin | authorlink=Andrew Ross Sorkin | work=The New York Times | date=July 31, 2003 | url-access=limited}}

In July 2005, Berkshire Hathaway acquired Forest River, the world's largest seller of recreational vehicles, from Pete Liegl for $800 million.{{Cite news | url=https://www.forbes.com/2005/07/22/buffett-berkshire-rv-0722autofacescan02.html | title=Buffett's Berkshire Hathaway Picks Up RV Maker | work=Forbes | date=July 22, 2005 | url-access=limited}}

In 2005, Berkshire acquired Applied Underwriters. In 2019, Applied Underwriters was sold back to its founder for $920 million.{{cite news |title=Applied Underwriters Sold to Founder in $920M Deal | url=https://www.insurancejournal.com/news/national/2019/10/16/545668.htm | work=Insurance Journal | date=October 16, 2019 |archive-url=https://web.archive.org/web/20200123215521/https://www.insurancejournal.com/news/national/2019/10/16/545668.htm | archive-date=January 23, 2020 | url-status=live}}

In January 2006, Berkshire bought Business Wire, a U.S. press release agency.{{Cite news | url=https://www.nytimes.com/2006/01/18/business/business-wire-acquired.html | title=Business Wire Acquired | agency=Associated Press | work=The New York Times | date=January 18, 2006 | url-access=limited}}

In March 2007, Berkshire Hathaway acquired TTI, Inc. Headquartered in Fort Worth, Texas, TTI is the largest distributor specialist of passive, interconnect, and electromechanical components. TTI's extensive product line includes; resistors, capacitors, connectors, potentiometers, trimmers, magnetic and circuit protection components, wire and cable, identification products, application tools, and electromechanical devices.{{Cite press release | url=https://www.tti.com/content/ttiinc/en/about/press-releases/2007/March/pr_berkshire_official.html | title=TTI Announces its Acquisition by Berkshire Hathaway | publisher=TTI, Inc. | date=March 30, 2007}}

In April 2007, Berkshire acquired 10.9% of BNSF Railway for $3.23 billion.{{cite news | title=Berkshire Acquires 10.9% Stake in Burlington Northern | date=April 8, 2007 | url=https://www.cnbc.com/2007/04/08/berkshire-acquires-109-stake-in-burlington-northern.html | work=cnbc.com }} In February 2010, the remaining portion that it did not already own was acquired for $26 billion.{{cite news |url=https://www.nytimes.com/2009/11/04/business/04deal.html | title=Buffett Bets Big on Railroads' Future | first1=Michael J. | last1=de la Merced | first2=Andrew | last2=Ross Sorkin | authorlink2=Andrew Ross Sorkin | work=The New York Times | date=November 3, 2009 | archive-url=https://web.archive.org/web/20170322204522/http://www.nytimes.com/2009/11/04/business/04deal.html | archive-date=March 22, 2017 | url-status=live}} This was the largest acquisition to date in Berkshire's history.{{cite news | url=https://www.reuters.com/article/business/buffett-buying-burlington-rail-in-his-biggest-deal-idUSTRE5A22A7/ | title=Buffett buying Burlington rail in his biggest deal | first=Nick | last=Zieminski | publisher=Reuters | date=November 3, 2009}}

NRG (Nederlandse Reassurantie Groep) was acquired by Berkshire from ING Group in December 2007.{{Cite press release| url=https://www.ing.com/Newsroom/News/Press-releases/PR/ING-to-sell-NRG-to-Berkshire-Hathaway.htm |title=ING to sell NRG to Berkshire Hathaway | publisher=ING Group | date=December 28, 2007 |archive-url=https://web.archive.org/web/20170727163324/https://www.ing.com/Newsroom/All-news/Press-releases/PR/ING-to-sell-NRG-to-Berkshire-Hathaway.htm |archive-date=July 27, 2017 |url-status=live}}{{cite news | url=https://www.marketwatch.com/story/berkshire-hathaway-to-buy-reinsurer-start-bond-insurer |title=Berkshire Hathaway to buy reinsurer, start bond insurer | first1=Steve | last1=Goldstein | first2=Robert | last2=Schroeder | work=Marketwatch |date=December 28, 2007 | url-access=limited |archive-url=https://web.archive.org/web/20080106131811/http://www.marketwatch.com/news/story/berkshire-hathaway-buy-reinsurer-start/story.aspx?guid=%7B0CC68C49%2D6EED%2D4A85%2D8C8C%2D51ED714E6082%7D&dist=TQP_Mod_mktwN | archive-date=January 6, 2008 | url-status=live}}

Also in December 2007, when stresses that led to the 2008 financial crisis were forming, Berkshire created a government bond insurance company to insure municipal bonds, starting with New York State bonds.{{Cite news | url=https://www.latimes.com/archives/la-xpm-2007-dec-29-fi-buffett29-story.html | title=Buffett's firm moves to insure municipal bonds | work=Los Angeles Times | date=December 29, 2007 | url-access=limited}}{{Cite news | url=https://www.nytimes.com/2007/12/29/business/29buffett.html | title=A Deal Maker With a Hot Hand Opens His Wallet | first=Vikas | last=Bajaj | work=The New York Times | date=December 29, 2007 | url-access=limited}}

In 2008, Berkshire Hathaway acquired 60% Marmon Group, a conglomerate owned by the Pritzker family for over fifty years that owned and operated companies that produce railroad tank cars, shopping carts, plumbing pipes, metal fasteners, wiring and water treatment products used in residential construction. Berkshire acquired the remainder of Marmon in 2013.{{cite press release |title=Berkshire Hathaway Inc. To Acquire 60% of Pritzker Family Company, Marmon Holdings, Inc. |url=https://www.berkshirehathaway.com/news/mar1808.pdf |publisher=Berkshire Hathaway |date=December 25, 2007 |archive-url=https://web.archive.org/web/20110926222818/http://www.berkshirehathaway.com/news/dec2507.pdf|archive-date=September 26, 2011|url-status=live}}

In September 2011, Berkshire Hathaway acquired Lubrizol for $9 billion in cash.{{cite news | url=https://www.cleveland.com/business/2011/09/berkshire_hathaway_closes_on_9.html | title=Berkshire Hathaway closes on $9 billion deal for Lubrizol Corp. of Wickliffe | agency=Associated Press | work=The Plain Dealer | date=September 16, 2011}}

In March 2011, Berkshire Hathaway made its first foray into the Indian insurance sector with its non-direct subsidiary BerkshireInsurance.com.{{Cite news | url=https://www.reuters.com/article/markets/funds/warren-buffett-to-visit-india-next-week-for-insurance-launch-idUSSGE72F019/ | title=Warren Buffett to visit India next week for insurance launch | first=Prashant | last=Mehra | publisher=Reuters | location=Mumbai | date=March 16, 2011}}{{cite news |url=https://economictimes.indiatimes.com/news/company/corporate-trends/warren-buffett-to-meet-policyholders-in-india/articleshow/7700947.cms |title=Warren Buffett to meet policyholders in India | agency=Press Trust of India | work=The Economic Times |date=March 14, 2011 |archive-url=https://web.archive.org/web/20151001135438/http://articles.economictimes.indiatimes.com/2011-03-14/news/28688137_1_motor-insurance-warren-buffett-insurance-policies |archive-date=October 1, 2015 | url-status=live}}

In 2012, Berkshire acquired Oriental Trading Company, a direct marketing company for novelty items, small toys, and party items for around $500 million.{{cite news | url=https://archive.nytimes.com/dealbook.nytimes.com/2012/11/02/berkshire-to-buy-oriental-trading-company/ |title=Berkshire to Buy Oriental Trading Company | first=Michael J. | last=De La Merced | work=The New York Times | date=November 2, 2012 |archive-url=https://web.archive.org/web/20150911025823/http://dealbook.nytimes.com/2012/11/02/berkshire-to-buy-oriental-trading-company/ |archive-date=September 11, 2015 | url-status=live}}{{cite news | url=https://www.reuters.com/article/business/warren-buffett-buys-toy-and-party-supplies-company-idUSBRE8A10DN/ | title=Warren Buffett buys toy and party-supplies company | last1=Oran | first1=Olivia | last2=Roumeliotis | first2=Greg | publisher=Reuters | date=November 2, 2012}}{{cite press release | url=https://www.businesswire.com/news/home/20121102005098/en/Berkshire-Hathaway-to-Acquire-Oriental-Trading-Company | title=Berkshire Hathaway to Acquire Oriental Trading Company | publisher=Business Wire | date=November 2, 2012}}

On October 2, 2014, Berkshire Hathaway Automotive, an auto dealership subsidiary, was created through the acquisition of Van Tuyl Group, the largest auto dealer in the nation that was still independently owned up to that date. It is now the fifth-largest auto dealership group, with ownership of 81 dealerships and revenues of $8 billion.{{cite news | url=https://www.forbes.com/sites/jimhenry/2014/10/02/warren-buffett-jumps-into-autos-buying-van-tuyl-group/ | title=Warren Buffett Jumps Into Autos, Buying Van Tuyl Group | first=Jim | last=Henry | work=Forbes |date=October 2, 2014 | url-access=limited |archive-url=https://web.archive.org/web/20161011191859/http://www.forbes.com/sites/jimhenry/2014/10/02/warren-buffett-jumps-into-autos-buying-van-tuyl-group/ |archive-date=October 11, 2016 |url-status=live}}{{cite news | url=https://www.mysanantonio.com/business/article/Billionaire-Warren-Buffett-s-Berkshire-Hathaway-7976438.php | title=Billionaire Warren Buffett's Berkshire Hathaway buys North Park Toyota | first=Richard | last=Webner | work=San Antonio Express-News | date=June 10, 2016 |archive-url=https://web.archive.org/web/20170422205751/http://www.mysanantonio.com/business/article/Billionaire-Warren-Buffett-s-Berkshire-Hathaway-7976438.php |archive-date=April 22, 2017 |url-status=live}}

In January 2016, Berkshire Hathaway acquired Precision Castparts Corp. for $32.1 billion.{{Cite press release | url=https://www.globenewswire.com/news-release/2016/01/29/806102/0/en/Berkshire-Hathaway-Completes-Acquisition-of-Precision-Castparts.html | title=Berkshire Hathaway Completes Acquisition of Precision Castparts | publisher=GlobeNewswire | date=January 29, 2016}} In 2020, Buffett said he overpaid for the company and wrote down its value by approximately $10 billion.{{cite news | url=https://www.reuters.com/article/business/warren-buffetts-10-billion-mistake-precision-castparts-idUSKCN2AR0MY/ | title=Warren Buffett's $10 billion mistake: Precision Castparts | first=Jonathan | last=Stempel | publisher=Reuters | date=February 27, 2021}}

In February 2016, Berkshire Hathaway acquired Duracell from Procter & Gamble for $4.7 billion in stock in P&G previously owned by Berkshire Hathaway.{{Cite press release | url=https://www.businesswire.com/news/home/20160229006829/en/PG-Completes-Exchange-of-Duracell-to-Berkshire-Hathaway | title=P&G Completes Exchange of Duracell to Berkshire Hathaway | publisher=Business Wire | date=February 29, 2016}}{{cite news | url=https://money.com/warren-buffett-duracell/ | title=Why Warren Buffett Just Bought Duracell |last=Morris |first=Patrick | date=November 14, 2014 | work=Money.com | url-status=live | archive-url=https://web.archive.org/web/20210530024646/https://money.com/warren-buffett-duracell/ |archive-date=May 30, 2021}}

In 2017, Berkshire acquired 38.6% of truck stop chain Pilot Flying J for $2.8 billion, followed by the acquisition of an additional 41.4% of the company for $8.2 billion in 2023, and the remaining 20% in 2024 for $3 billion. It appointed two Berkshire Hathaway Energy executives as CEO and CFO of the company, retaining Jimmy Haslam as chairman.{{cite news |url=https://www.usatoday.com/story/money/markets/2017/10/03/warren-buffett-berkshire-hathaway-pilot-flying-j-truck-stops/726378001/ |title=Warren Buffett, Berkshire Hathaway buying Pilot Flying J truck stops | work=USA Today | date=October 3, 2017 | archive-url=https://web.archive.org/web/20180619045916/https://www.usatoday.com/story/money/markets/2017/10/03/warren-buffett-berkshire-hathaway-pilot-flying-j-truck-stops/726378001/ | archive-date=June 19, 2018 |url-status=live}}

In October 2022, Berkshire Hathaway acquired insurance company Alleghany Corporation for $11.6 billion.{{Cite press release | url=https://www.alleghany.com/about-alleghany/Press-Releases/press-release-details/2022/Berkshire-Hathaway-Completes-Acquisition-of-Alleghany-Corporation/default.aspx | title=Berkshire Hathaway Completes Acquisition of Alleghany Corporation | publisher=Alleghany Corporation | date=October 19, 2022}} As part of the transaction, Berkshire reduced the purchase price of the company by any fees that it paid investment bankers. This move was touted as an example of Warren Buffett's "disdain" for investment bankers.{{Cite news | url=https://markets.businessinsider.com/news/stocks/warren-buffett-alleghany-takeover-price-berkshire-hathaway-investment-bankers-fees-2022-3 | last=Fox | first=Matthew | title=Warren Buffett's disdain for investment banking 'money-shufflers' leads to lower takeover price for Alleghany Corp. shareholders | work=Business Insider | date=March 22, 2022}}

Buffett began investing in Wells Fargo in 1989; however, by the first quarter of 2022, Berkshire Hathaway had sold its entire interest in the company.{{Cite news | url=https://www.reuters.com/business/finance/berkshire-sheds-nearly-all-wells-fargo-holding-since-1989-2021-05-17/ | title=Berkshire sheds nearly all of Wells Fargo, a holding since 1989 | first=Jonathan | last=Stempel | publisher=Reuters | date=May 17, 2021}}{{Cite news | url=https://www.cnn.com/2022/05/17/investing/berkshire-hathaway-warren-buffett-wells-fargo-citigroup/index.html |title=Warren Buffett's Berkshire Hathaway finally bails on Wells Fargo | publisher=CNN | date=May 17, 2022}}

Buffett turned down an opportunity to invest in Amazon.com in 1994, as he was unable to predict the company's future growth and it was losing money.{{Cite news | url=https://www.inc.com/jeff-haden/warren-buffett-says-he-was-too-dumb-to-invest-in-amazon-its-a-lesson-in-judgment-self-awareness.html | title=Warren Buffett Says He Was 'Too Dumb' to Invest in Amazon. It's a Lesson in Judgment and Self-Awareness | first=Jeff | last=Haden | work=Inc. | date=November 2, 2023}} Berkshire Hathaway purchased shares in Amazon in 2019, a position worth $2 billion at the time.{{cite news | url=https://www.cnbc.com/2019/05/03/berkshire-hathaway-has-been-buying-shares-of-amazon-warren-buffett.html | title=Berkshire Hathaway has been buying shares of Amazon: Warren Buffett | publisher=CNBC | date=May 2, 2019 | first=Becky | last=Quick | authorlink=Rebecca Quick |archive-url=https://web.archive.org/web/20190503001510/https://www.cnbc.com/2019/05/03/berkshire-hathaway-has-been-buying-shares-of-amazon-warren-buffett.html|archive-date=May 3, 2019|url-status=live}}

Berkshire made its first investment in Tesco in 2006, and in 2012 it raised this stake to over 5% of the company, investing a total of $2.3 billion.{{cite news |url=https://www.theguardian.com/business/2012/jan/19/warren-buffett-tesco-stake |title=Warren Buffett increases stake in Tesco | first=Nick | last=Fletcher | work=The Guardian |date=January 19, 2012 |issn=0261-3077 | archive-url=https://web.archive.org/web/20150819052738/http://www.theguardian.com/business/2012/jan/19/warren-buffett-tesco-stake |archive-date=August 19, 2015 |url-status=live}} Buffett sold around 30% of this stake in 2013 when he "soured somewhat on the company's then-management", realizing a profit of $43 million.{{cite news |url=https://www.theguardian.com/business/2015/mar/01/warren-buffett-admits-thumb-sucking-over-tesco-cost-him-444m |title=Warren Buffett admits 'thumb-sucking' over Tesco cost him $444m | first=Julia | last=Kollewe | work=The Guardian |date=March 1, 2015 |issn=0261-3077 |archive-url=https://web.archive.org/web/20170523061645/https://www.theguardian.com/business/2015/mar/01/warren-buffett-admits-thumb-sucking-over-tesco-cost-him-444m |archive-date=May 23, 2017|url-status=live}} As Tesco's problems mounted through 2014, Berkshire sold all the remaining shares with Buffett saying to shareholders that the delay in selling shares was costly. Berkshire realized an after-tax loss of $444 million on the Tesco investment.

In early 2008, Berkshire increased its stake in ConocoPhillips to 85 million shares.{{Cite news | url=https://www.cnbc.com/2008/11/14/warren-buffetts-berkshire-hathaway-sharply-boosts-conocophillips-stake.html | title=Warren Buffett's Berkshire Hathaway Sharply Boosts ConocoPhillips Stake | first=Alex | last=Crippen | publisher=CNBC | date=November 14, 2008}} Buffett later described this as "a major mistake" as the price of oil collapsed during the Great Recession. Berkshire sold most of its shares but held 472,000 shares until 2012. That year, ConocoPhillips completed the corporate spin-off of Phillips 66, of which Berkshire owned 27 million shares. Berkshire later sold $1.4 billion worth of shares to Phillips 66 in exchange for Phillips Specialty Products.{{Cite news |url=https://www.fool.com/investing/general/2014/12/10/the-1-company-warren-buffett-is-most-likely-to-sel.aspx |title=The 1 Stock Warren Buffett Is Most Likely to Sell in 2015 |last=Hall |first=Jason | work=The Motley Fool |date=December 10, 2014}} Buffett frequently referred to Phillips 66 as one of the best businesses Berkshire invested in because of its consistent dividends and share repurchase programs. However, Berkshire sold its entire holdings in 2020.{{Cite news |url=https://www.reuters.com/article/us-investment-funds-berkshire/buffetts-berkshire-slashes-goldman-stake-exits-phillips-66-travelers-idUSKBN22R3DL |title=Buffett's Berkshire slashes Goldman stake; exits Phillips 66, Travelers | last=Stempel | first=Jonathan | publisher=Reuters | date=May 16, 2020}}{{Cite news | url=https://www.fool.com/investing/2020/05/20/warren-buffett-sold-phillips-66-heres-why-im-holdi.aspx | title=Warren Buffett Sold Phillips 66 -- Here's Why I'm Holding (and May Buy More) |last=Hall | first=Jason | work=The Motley Fool | date=May 20, 2020}}

In September 2008, at the peak of the 2008 financial crisis, Berkshire invested $5 billion in preferred stock in Goldman Sachs to provide it with a source of funding when capital markets had become constrained. The preferred stock yielded an annual interest rate of 10%, earning Berkshire $500 million in interest income per year. Berkshire also received warrants to purchase 43.5 million shares with at $115 per share, which were exercisable at any time for a five-year term.{{cite press release | url=https://www.goldmansachs.com/pressroom/press-releases/2008/berkshire-hathaway-invest | title=Berkshire Hathaway to Invest $5 Billion in Goldman Sachs | publisher=Goldman Sachs | date=September 23, 2008 | archive-url=https://web.archive.org/web/20170602025553/http://www.goldmansachs.com/media-relations/press-releases/archived/2008/berkshire-hathaway-invest.html | archive-date=June 2, 2017 | url-status=live}}{{Cite news | url=https://www.cnbc.com/2008/09/23/warren-buffett-gives-goldman-sachs-unexpected-5b-vote-of-confidence.html | title=Warren Buffett Gives Goldman Sachs Unexpected $5B Vote of Confidence | publisher=CNBC | date=September 23, 2008}} Goldman had the right to re-purchase the preferred stock at a 10% premium, and in March 2011 exercised this right paying $5.5 billion to Berkshire. Profit on the preferred stock was estimated at $1.8 billion{{cite news |title=Warren Buffett's billion-$$ Goldman bet pays off |url=https://www.cnbc.com/2013/10/01/buffetts-berkshire-set-to-get-nearly-215-billion-of-goldman-stock.html | publisher=CNBC |date=October 1, 2013 |archive-url=https://web.archive.org/web/20170730123741/https://www.cnbc.com/2013/10/01/buffetts-berkshire-set-to-get-nearly-215-billion-of-goldman-stock.html |archive-date=July 30, 2017 |url-status=live}} and exercising the warrants yielded a profit of more than $2 billion.{{cite web | url=http://pdf.secdatabase.com/2106/0000950150-08-000030.pdf | title=Berkshire Hathaway, Form 10-Q, Quarterly Report |publisher=EDGAR | date=November 7, 2008 | archive-url=https://web.archive.org/web/20130522091201/http://pdf.secdatabase.com/2106/0000950150-08-000030.pdf | archive-date=May 22, 2013 | url-status=live}} Buffett defended Lloyd Blankfein's decisions as CEO of Goldman Sachs and his efforts to improve the reputation of the company during the 2008 financial crisis.{{cite news |url=https://www.wsj.com/articles/SB122220798359168765 |title=Buffett to Invest $5 billion in Goldman | date=September 24, 2008 | work=The Wall Street Journal | first=Susanne | last=Craig |author-link=Susanne Craig |archive-url=https://web.archive.org/web/20150202015754/http://www.wsj.com/articles/SB122220798359168765 | archive-date=February 2, 2015 |url-status=live}}{{cite news | url=https://www.forbes.com/2010/05/02/lloyd-blankfein-goldman-sachs-streettalk-markets-warren-buffett.html |title=The Buffett-Blankfein Alliance | first=Robert | last=Lenzner | work=Forbes | date=May 2, 2010 | url-access=limited |archive-url=https://web.archive.org/web/20120201115813/http://www.forbes.com/2010/05/02/lloyd-blankfein-goldman-sachs-streettalk-markets-warren-buffett.html| archive-date=February 1, 2012|url-status=live}}{{cite news |url=https://archive.nytimes.com/dealbook.nytimes.com/2010/05/01/buffett-says-he-backs-goldmans-blankfein-100/ |title=Buffett Says He Backs Goldman's Blankfein 100% |work=The New York Times |date=May 1, 2010 |archive-url=https://web.archive.org/web/20150402162135/http://dealbook.nytimes.com/2010/05/01/buffett-says-he-backs-goldmans-blankfein-100/ |archive-date=April 2, 2015|url-status=live}}

In September 2008, BHE invested about US$230 million for approximately a 10% share of BYD Auto.{{Cite news |url=https://www.cnbc.com/2008/09/27/warren-buffett-invests-in-chinese-company-developing-green-cars.html |title=Warren Buffett Invests In Chinese Company Developing 'Green' Cars |last=Crippen |first=Alex | publisher=CNBC | date=September 27, 2008}} Some shares were sold in 2023 and 2024, with Buffett motivated by the China–United States trade war.{{Cite news | url=https://www.reuters.com/business/autos-transportation/berkshire-hathaway-sells-398-mln-shares-chinas-byd-2024-06-17/ | title=Berkshire Hathaway trims stake in China's BYD | first=Jonathan | last=Stempel | publisher=Reuters | date=June 17, 2024}}{{Cite news | url=https://markets.businessinsider.com/news/stocks/byd-stock-sales-warren-buffett-berkshire-hathaway-china-ev-munger-2023-11 | title=Warren Buffett's company slashed its stake in BYD. Here's why that's surprising – and 5 possible explanations. | first=Theron | last=Mohamed | work=Business Insider | date=November 14, 2023}}{{Cite news | url=https://www.cnn.com/2024/06/18/cars/berkshire-hathaway-byd-china-ev-tensions-intl-hnk/index.html | title=Warren Buffett's Berkshire Hathaway dumps BYD shares following rise in trade tension over Chinese EVs | first=Laura | last=He | publisher=CNN | date=June 18, 2024}}

In October 2008, Berkshire invested $6.5 billion in Wrigley Company as part of a financing package to enable Mars Inc. to acquire the company. Berkshire sold its remaining bonds and preferred stock to Mars in 2016.{{Cite news | url=https://www.reuters.com/article/world/europe/mars-inc-buying-out-buffett-stake-in-wrigley-idUSKCN1261XJ/ | title=Mars Inc buying out Buffett stake in Wrigley | first1=Jonathan | last1=Stempel | first2=Gayathree | last2=Ganesan | publisher=Reuters | date=October 6, 2016}}

In early 2011, Berkshire first invested in IBM. The shares were entirely sold in 2018.{{cite news | url=https://www.bloomberg.com/news/articles/2018-02-14/warren-buffett-s-berkshire-cuts-almost-its-entire-stake-in-ibm | title=Buffett's Bumpy Ride With IBM Draws to a Close With Stock Sales | first=Noah | last=Buhayar | work=Bloomberg News | date=February 14, 2018 | url-access=subscription | archive-url=https://web.archive.org/web/20180505070508/https://www.bloomberg.com/news/articles/2018-02-14/warren-buffett-s-berkshire-cuts-almost-its-entire-stake-in-ibm | archive-date=May 5, 2018 | url-status=live}}{{cite news| url=https://www.cnbc.com/2018/05/04/warren-buffett-says-berkshire-hathaway-has-sold-completely-out-of-ibm.html |title=Warren Buffett says Berkshire Hathaway has sold completely out of IBM | first=Matthew J. | last=Belvedere | publisher=CNBC | date=May 4, 2018 |archive-url=https://web.archive.org/web/20180504195836/https://www.cnbc.com/2018/05/04/warren-buffett-says-berkshire-hathaway-has-sold-completely-out-of-ibm.html | archive-date=May 4, 2018 | url-status=live}}

On August 26, 2011, Berkshire Hathaway purchased $5 billion of preferred shares in Bank of America.{{cite news |url=https://www.bloomberg.com/news/2011-08-25/franc-reverses-gain-versus-dollar-as-buffett-buys-bank-of-america-shares.html |title=Franc Reverses Gain Versus Dollar as Buffett Buys Bank of America Shares | first=Anchalee | last=Worrachate | work=Bloomberg News |date=August 25, 2011 |archive-url=https://web.archive.org/web/20120419172604/http://www.bloomberg.com/news/2011-08-25/franc-reverses-gain-versus-dollar-as-buffett-buys-bank-of-america-shares.html |archive-date=April 19, 2012|url-status=live}} The shares yielded 6%, earning Berkshire $300 million in annual interest. Alongside the preferred stock investment, Berkshire obtained warrants allowing Berkshire to buy 700 million common shares at $7.14 per share, which were exercised. By 2017, this position had yielded a profit of about $12 billion excluding the annual interest earned from the preferred stock.{{Cite news |url=https://www.cnbc.com/2017/06/30/warren-buffett-just-made-a-quick-12-billion-on-bank-of-america.html |title=Warren Buffett just made a quick $12 billion on a clever Bank of America investment |last=Melloy |first=John | publisher=CNBC | date=June 30, 2017}}

In 2013, Berkshire and 3G Capital acquired H. J. Heinz Company for $28 billion including debt.{{cite news |url=https://dealbook.nytimes.com/2013/02/14/berkshire-and-3g-capital-to-buy-heinz-for-23-billion/ |title=Berkshire and 3G Capital in a $23 Billion Deal for Heinz | first1=Michael J. | last1=de la Merced | first2=Andrew Ross |last2=Sorkin | authorlink2=Andrew Ross Sorkin |work=The New York Times |date=February 14, 2013 | url-access=limited |archive-url=https://web.archive.org/web/20190905061032/https://dealbook.nytimes.com/2013/02/14/berkshire-and-3g-capital-to-buy-heinz-for-23-billion/ | archive-date=September 5, 2019 | url-status=live}} In 2015, Heinz merged with Kraft Foods to form Kraft Heinz.{{Cite news | url=https://www.cnbc.com/2015/03/25/kraft-foods-group-and-hj-heinz-merge-to-create-the-kraft-heinz-co.html | title=Buffett's HJ Heinz to merge with Kraft Foods | first=Tom | last=DiChristopher | publisher=CNBC | date=March 25, 2015}} In 2019, Buffett said that he overpaid in the deal.{{Cite news | url=https://www.reuters.com/article/business/warren-buffett-says-berkshire-overpaid-for-kraft-heinz-idUSKCN1QE1EV/ | title=Warren Buffett says Berkshire overpaid for Kraft Heinz | first1=Jonathan | last1=Stempel | first2=Jennifer | last2=Ablan | publisher=Reuters | date=February 25, 2019}}

In 2013, Berkshire owned 1.74 million shares of Gannett; however, it sold its shares in the second quarter of 2013.{{cite news |url=https://money.cnn.com/2013/08/15/investing/berkshire-buffett-newspapers/index.html | title=Buffett's Berkshire dumps Gannett, buys Dish Network | first=Aaron | last=Smith | publisher=CNN | date=August 15, 2013}}{{Cite news | url=https://www.theguardian.com/media/greenslade/2013/aug/16/gannett-warrenbuffett | title=Buffett dumps $38m shares in Gannett | first=Roy | last=Greenslade | work=The Guardian | date=August 16, 2013}}

In the first quarter of 2016, Berkshire began investing in Apple Inc., with a purchase of 9.8 million shares (0.2% of Apple) worth $1 billion. By the end of June 2016, this stake had increased to 15.2 million shares (0.3% of Apple). By December 31, 2016, Berkshire had built up a stake of 57.4 million shares (1.1% of Apple) with an estimated average acquisition price of $110 per share (before the 2020 4:1 split). Aggressive stock purchases continued and by March 31, 2017, Berkshire had amassed a stake of 129 million shares (2.5% of Apple). By December 31, 2017, Berkshire owned 166 million shares (3.3% of Apple). Berkshire bought 75 million more shares in early 2018.{{cite news | url=https://www.usatoday.com/story/money/2018/05/04/buffett-buys-75-m-more-shares-apple-stock/579974002/ | title=Warren Buffett's Berkshire Hathaway buys 75M more Apple shares, sells off IBM | work=USA Today | first=Adam | last=Shell | date=May 4, 2018 | archive-url=https://web.archive.org/web/20180504150548/https://www.usatoday.com/story/money/2018/05/04/buffett-buys-75-m-more-shares-apple-stock/579974002/ | archive-date=May 4, 2018 | url-status=live}}{{cite news | url=https://www.reuters.com/article/business/apple-hits-record-high-after-buffetts-berkshire-increases-stake-idUSKBN1I506S/ |title=Apple hits record high after Buffett's Berkshire increases stake| publisher=Reuters |first=Sonam | last=Rai | date=May 4, 2018 | archive-url=https://web.archive.org/web/20180505070107/https://www.nasdaq.com/article/apple-hits-record-high-after-buffetts-berkshire-increases-stake-20180504-00860 | archive-date=May 5, 2018 | url-status=live}} {{As of|2022|12|31| post=,|df=US}} Berkshire owned 5.8% of Apple.{{cite web | url=https://www.sec.gov/Archives/edgar/data/1067983/000119312523038262/d382361dsc13ga.htm | title=Apple Inc. Schedule 13G |date=February 14, 2023 |publisher=U.S. Securities and Exchange Commission}}{{cite news | url=https://www.reuters.com/business/buffetts-berkshire-reduces-stake-activision-blizzard-2023-02-14/ | last1=Mandl | first1=Carolina | last2=S | first2=Sittarasu | title=Berkshire dumps shares in TSMC, banks; increases Apple stake | publisher=Reuters |date=February 14, 2023}} Berkshire Hathaway reduced its Apple stake by nearly 50%, selling $75.5 billion worth of stock in the second quarter of 2024, increasing its cash reserves to a record $276.9 billion.{{Cite news | url=https://www.bloomberg.com/news/articles/2024-08-03/berkshire-hathaway-s-cash-pile-soars-to-record-276-9-billion | title=Berkshire Cuts Apple Stake by Almost Half in Selling Spree | first1=Amanda | last1=Cantrell | first2=Katherine | last2=Chiglinsky | work=Bloomberg News | date=August 3, 2024 | url-access=subscription}} Buffett had said that Apple has developed an ecosystem and level of brand loyalty that provides it with an economic moat, and that consumers appear to have a degree of price insensitivity when it comes to the iPhone. While Buffett generally does not invest in tech stocks, he has said that Apple is a consumer products company and that he understands consumer products businesses.{{cite news | url=https://www.reuters.com/article/us-berkshire-buffett-apple-idUSKBN1I60V8 | title=Buffett owns 5 percent of Apple. He'd like to own more | first=Jonathan | last=Stempel | publisher=Reuters |date=May 5, 2018 |archive-url=https://web.archive.org/web/20190202042302/https://www.reuters.com/article/us-berkshire-buffett-apple-idUSKBN1I60V8 |archive-date=February 2, 2019 |url-status=live}}

In the third quarter of 2016, Berkshire surprised investors by making large equity investments in the major US airlines. Buffett had previously described airlines as a "deathtrap for investors". Buffett had made an investment in US Airways in 1989 which, although he sold for a profit, almost lost Berkshire a substantial sum of money.{{cite news |url=https://www.cnbc.com/2016/11/14/buffetts-berkshire-takes-stakes-in-four-major-airlines.html | title=Buffett's Berkshire takes stakes in four major airlines | first=Becky | last=Quick |authorlink=Becky Quick | date=November 14, 2016 | publisher=CNBC |url-status=live |archive-url=https://web.archive.org/web/20170605182205/https://www.cnbc.com/2016/11/14/buffetts-berkshire-takes-stakes-in-four-major-airlines.html |archive-date=June 5, 2017}} In 2017, Berkshire was the largest shareholder in United Airlines and Delta Air Lines and a top 3 shareholder in Southwest Airlines and American Airlines. Buffett himself has described this as a "call on the industry" rather than a choice in an individual company. American Airlines' CEO Doug Parker is said to have won over Ted Weschler in arguing that the airline industry had consolidated sufficiently and rationalized supply such that longer-term profitability could be achieved in an industry that has historically been loss-making in aggregate.{{cite news |url=https://www.bloomberg.com/news/articles/2017-02-15/airlines-rise-to-a-record-as-buffett-s-berkshire-deepens-bet | first=Mary | last=Schlangenstein |title=Airline Shares Reach Record as Buffett's Berkshire Extends Bet | work=Bloomberg News | date=February 15, 2017 | url-access=subscription |archive-url=https://web.archive.org/web/20170414191506/https://www.bloomberg.com/news/articles/2017-02-15/airlines-rise-to-a-record-as-buffett-s-berkshire-deepens-bet |archive-date=April 14, 2017 |url-status=live}} In April 2020, Berkshire sold all shares in the airlines due to the impact of the COVID-19 pandemic on commercial air transport.{{Cite news |url=https://www.forbes.com/sites/geoffwhitmore/2020/05/04/warren-buffett-dumps-airline-stocks/ |title=Warren Buffett Dumps Airline Stocks |first=Geoff |last=Whitmore | work=Forbes | date=May 4, 2020 | url-access=limited}}

In June 2017, Berkshire invested $377 million in Store Capital, a Scottsdale-based real estate investment trust that owned more than 1,750 properties in 48 states; the company was sold to private equity firms in 2022.{{Cite news | url=https://www.fool.com/investing/2022/09/16/this-high-yielding-warren-buffett-stock-is-getting/ | title=This High-Yielding Warren Buffett Stock Is Getting Acquired -- Here Are 2 Excellent Replacements to Buy | first=Matt | last=DiLallo | work=The Motley Fool | date=September 16, 2022}}{{cite news |url=https://kjzz.org/content/498911/metro-phoenix-real-estate-attracts-warren-buffett | title=Metro Phoenix Real-Estate Attracts Warren Buffett| first=Heather | last=van Blokland | publisher=KJZZ (FM) |date=July 3, 2017 |archive-url=https://web.archive.org/web/20170727163324/https://kjzz.org/content/498911/metro-phoenix-real-estate-attracts-warren-buffett |archive-date=July 27, 2017 |url-status=live}}{{Cite news | url=https://www.reuters.com/article/store-capital-ma-berkshire-hatha-idUSL1N1JN0H5/ |title=Berkshire bulks up in real estate with Store Capital stake | last=Stempel |first=Jonathan |publisher=Reuters |date=June 26, 2017}}

In June 2017, Berkshire acquired a 38.4% stake in Home Capital Group for $400 million, giving a lifeline to the Toronto-based embattled mortgage lender.{{cite news |url=https://financialpost.com/real-estate/canadian-real-estate-industry-welcomes-buffett-to-the-neighbourhood |title=Canadian real estate industry welcomes Buffett to the neighbourhood | first=Garry | last=Marr | work=National Post |date=June 22, 2017 |archive-url=https://web.archive.org/web/20170826160938/http://business.financialpost.com/real-estate/canadian-real-estate-industry-welcomes-buffett-to-the-neighbourhood |archive-date=August 26, 2017 | url-status=live}}{{Cite news | url=https://www.bloomberg.com/news/articles/2017-06-22/berkshire-hathaway-to-invest-in-embattled-lender-home-capital | title=Berkshire Hathaway Invests in Embattled Lender Home Capital | first1=Sree Vidya | last1=Bhaktavatsalam | first2=Jacqueline | last2=Thorpe | work=Bloomberg News | date=June 22, 2017 | url-access=subscription}} The shares were sold in 2018.{{Cite news | url=https://www.cbc.ca/news/business/home-capital-berkshire-hathaway-1.4952331 | title=Home Capital shares sell off after Berkshire Hathaways discloses it's sold most of its stake | first=Pete | last=Evans | publisher=CBC News | date=December 19, 2018}}

In 2019, by purchasing warrants and preferred stock, Berkshire provided $10 billion in financing to Occidental Petroleum as part of its acquisition of Anadarko Petroleum. Berkshire began investing in common shares of Occidental beginning in 2022 and has increased its position since.{{Cite news | url=https://www.rigzone.com/news/berkshire_now_owns_nearly_29_percent_of_occidental-18-jun-2024-177124-article/ | title=Berkshire Now Owns Nearly 29 Percent of Occidental | first=Jov | last=Onsat | work=Rigzone | date=June 18, 2024}}{{cite news | url=https://www.reuters.com/markets/deals/berkshire-hathaway-buys-nearly-105-mln-shares-occidental-petroleum-2023-12-14/ | title=Berkshire Hathaway buys Occidental Petroleum shares worth about $588.7 mln | first=Anirudh | last=Saligrama | editor-first1=Sherry | editor-last1=Jacob-Phillips | editor-first2=Sonia | editor-last2=Cheema | publisher=Reuters | date=December 13, 2023}}

Between September 2019 and August 2020, Berkshire purchased more than 5% of the outstanding stock of each of the five largest Japanese sogo shosha (Itochu, Mitsubishi, Mitsui, Sumitomo, and Marubeni) through its National Indemnity subsidiary. These stakes were worth a total of over $6 billion as of August 2020. By April 2023, Berkshire increased its stake in each of those companies to 7.4%.{{cite news |last=Lies |first=Elaine |title=Buffett says he holds 7.4% stake in five Japanese trading houses, including Itochu, Nikkei reports | url=https://www.reuters.com/markets/asia/buffett-says-he-holds-74-stake-five-japanese-trading-houses-including-itochu-2023-04-11/ | publisher=Reuters | date=April 10, 2023}} He continued to increase the stakes over time.{{Cite news | url=https://www.barrons.com/articles/warren-buffett-berkshire-hathaway-japan-sumitomo-davos-9d9310a3 | title=Warren Buffett Steadily Increasing Stakes in 5 Japanese Companies: Sumitomo CEO | first=Jack | last=Denton | work=Barron's | date=January 16, 2024}}

In the second quarter of 2020, Berkshire added a position of more than 20 million shares in Barrick Gold; the shares were sold in 2021.{{cite news |url=https://www.cnbc.com/2020/08/17/barrick-golds-stock-soars-after-buffetts-berkshire-reveals-stake.html |title=Barrick Gold's stock soars after Buffett's Berkshire reveals stake | last=Fitzgerald | first=Maggie | publisher=CNBC | date=August 17, 2020}} In the third quarter of 2020, the company agreed to buy Dominion Energy's natural gas transmission and storage operations.{{Cite news |url=https://www.morningstar.com/articles/990825/berkshire-hathaway-adds-to-energy-assets |title=Berkshire Hathaway Adds to Energy Assets |last=Warren |first=Greggory | publisher=Morningstar, Inc. | date=July 6, 2020}}

In the first quarter of 2022, Berkshire acquired a $2.6 billion stake in Paramount Global.{{Cite news |url=https://www.hollywoodreporter.com/business/business-news/warren-buffett-berkshire-hathaway-buys-paramount-global-stock-1235148090/ |last=Weprin |first=Alex |title=Warren Buffett's Berkshire Hathaway Acquires $2.6B Stake in Paramount Global | work=The Hollywood Reporter |date=May 17, 2022}} However, at an annual meeting on May 4, 2024, Buffett stated that he had sold all of his shares in Paramount at a substantial loss, blaming himself for deciding to invest.{{cite news | url=https://deadline.com/2024/05/warren-buffett-paramount-global-stock-lost-money-1235904647/ | title=Warren Buffett Says He Has Sold All Of His Paramount Global Stock, Losing "Quite A Bit Of Money" | first=Dade | last=Hayes | work=Deadline Hollywood | date=May 4, 2024}}

In the first quarter of 2022, Berkshire acquired 121 million shares of HP Inc. valued at more than $4.2 billion; the shares were sold in 2023 and 2024.{{Cite news |url=https://www.bloomberg.com/news/articles/2022-04-07/buffett-s-berkshire-hathaway-builds-new-4-2-billion-hp-stake |title=HP Soars to Record High After Buffett's Berkshire Buys a Stake | last=Chiglinsky | first=Katherine | work=Bloomberg News |date=April 7, 2022 | url-access=subscription}}

In the third quarter of 2022, Berkshire purchased 60 million shares in TSMC valued at $4.1 billion; the shares were sold in late 2022 and 2023 in part due to geopolitical tensions.{{cite news | url=https://www.ft.com/content/6d4bb1f4-270a-46bd-8069-81148b636647 | title=Warren Buffett's Berkshire Hathaway buys $4bn stake in chipmaker TSMC | last=Platt | first=Eric | work=Financial Times | date=November 15, 2022 | url-access=limited}}{{cite news | last=Stempel | first=Jonathan | title=Buffett says geopolitics a factor in Berkshire sale of TSMC stake |url=https://www.reuters.com/technology/buffett-says-geopolitics-factor-berkshire-sale-tsmc-stake-2023-04-11/ | publisher=Reuters | date=April 11, 2023}}

Berkshire began investing in Chubb Limited in 2023; by 2024, it owned a 6.4% stake worth $6.7 billion.{{Cite news | title=Warren Buffett's Berkshire Reveals Its Mystery Stock: Chubb | url=https://www.wsj.com/finance/stocks/warren-buffetts-berkshire-reveals-its-mystery-stock-chubb-8ca0b4a3 | last=Langley | first=Karen | work=The Wall Street Journal | date=May 15, 2024}}

Berkshire Hathaway bought 5.62 million shares of Constellation Brands (STZ) in the fourth quarter of 2024. This new position was worth approximately $1.24 billion at the end of the year 2024. The purchase made Berkshire Hathaway the sixth-largest shareholder of Constellation Brands.

Berkshire Hathaway sold its stake in Ulta Beauty in the fourth quarter of 2024. The company exited its position in Ulta Beauty just two quarters after initially acquiring shares in the second quarter of 2024.

In March 2025, The Wall Street Journal reported that Compass is in advanced talks to purchase HomeServices of America, Berkshire Hathaway's real estate brokerage business. No acquisition price has yet been determined.{{Cite web |last2=Thomas |first1=Nicole| last1=Friedman |first2=Lauren |title=Exclusive {{!}} Compass in Talks to Buy Warren Buffett's Real-Estate Brokerage Unit |url=https://www.wsj.com/real-estate/compass-in-talks-to-buy-warren-buffetts-real-estate-brokerage-unit-5eab82e5 |access-date=2025-03-13 |website=WSJ}}

File:2018_Berkshire_Sunday_at_Borsheims_-_41039852065.jpg

Aside from its subsidiaries, Berkshire manages a portfolio of non-controlling stock investments into which its insurance companies invest policy premiums. These holdings are broadly disclosed in its Form 13F filings, although the company sometimes obtains permission to keep active trades confidential.

In addition to these equity positions, the company had $325 billion in cash and cash equivalents, more than any other U.S.-based public company.{{Cite news | url=https://www.investors.com/etfs-and-funds/sectors/sp500-what-warren-buffett-can-buy-with-his-record-cash-pile/ | title=What Warren Buffett Can Buy With His Record $325 Billion Cash Pile | first=MATT | last=KRANTZ | work=Investor's Business Daily | date=November 13, 2024}} Berkshire's annual reports since 2008 have emphasized its commitment to holding ample cash to cover near-term insurance obligations.See for example 2023 Annual Report, "Property/Casualty Insurance."

Insurance is a major area of operations and the retained premiums (float) serve as an important source of capital.{{Cite news | url=https://www.npr.org/sections/money/2010/03/warren_buffett_explains_the_ge.html | title=Warren Buffett Explains The Genius Of The Float | first=Jacob | last=Goldstein | publisher=NPR | date=March 1, 2010}} Buffett has said that he prefers to invest in evergreen businesses that generate predictable long-term returns,{{Cite news | url=https://www.fool.com/investing/2024/08/21/why-doesnt-warren-buffett-invest-in-nvidia/ | title=Why Doesn't Warren Buffett Invest in Nvidia? | first=Leo | last=Sun | work=The Motley Fool | date=August 21, 2024}} that he doesn't invest in companies that he doesn't understand,{{Cite web | url=https://www.kornferry.com/insights/this-week-in-leadership/buffett-technology-learning-agility | title=Buffett Goes Humble on Tech | first1=Kevin | last1=Cashman | first2=Chad | last2=Astmann | publisher=Korn Ferry}} and that he does not like to invest in companies that may undergo significant change.{{Cite news | url=https://buffett.cnbc.com/2018/04/02/over-time-buffett-softens-stance-on-tech-stocks.html | title=Over time, Buffett softens his stance on tech stocks | first=Colleen | last=McKown | publisher=CNBC | date=April 2, 2018}} The company has generally avoided investing in high-tech firms, missing early opportunities to invest in Microsoft and Amazon.com despite having relationships with the founders of those companies. With some exceptions, the company also usually does not invest in real property due to precise pricing, lack of competitive advantage, complex management, and corporation tax disadvantages.{{Cite news | url=https://www.gurufocus.com/news/2050397/why-warren-buffett-steers-clear-of-real-estate | title=Why Warren Buffett Steers Clear of Real Estate | first=Andrea | last=van Schalkwyk | date=July 27, 2023}}

Berkshire Hathaway has never undergone a stock split of its Class A shares because of management's desire to attract long-term investors as opposed to short-term speculation.{{Cite news | url=https://www.cnbc.com/2022/03/17/why-warren-buffett-says-berkshire-hathaway-will-never-split-its-stock.html | title=Berkshire Hathaway shares topped $500,000 each—here's why Warren Buffett says he'll never split the stock | first=Nicolas | last=Vega | publisher=CNBC | date=March 17, 2022}} However, in 1996, Berkshire Hathaway created Class B shares, with a per-share value of {{Frac|30}} of that of the original shares (now Class A) and {{Frac|200}} of the per-share voting rights, and after the January 2010 split, at {{Frac|1,500}} the price and {{Frac|10,000}} the voting rights of the Class-A shares. Holders of class A stock are allowed to convert their stock to Class B, though not vice versa. Buffett was reluctant to create the class B shares but did so to thwart the creation of unit investment trusts that would have marketed themselves as Berkshire look-alikes.{{Cite news | url=https://finance.yahoo.com/news/berkshire-a-shares-b-shares-difference-high-low-price-buffett-120901246.html | title=The story behind Berkshire Hathaway's low-priced B shares | first=Nicole | last=Sinclair | work=Yahoo! Finance | date=April 21, 2016}}

In January 2010, as part of the acquisition of BNSF Railway, Berkshire completed a 50-to-1 stock split of its class B shares. The increased market liquidity resulted in the company's inclusion in the S&P 500.{{cite news | url=https://www.reuters.com/article/idUSTRE60P6OO20100126/ | title=Berkshire Hathaway to join S&P 500, shares soar | first=Jonathan | last=Stempel | publisher=Reuters | date=January 26, 2010 | archive-url=https://web.archive.org/web/20100130141857/http://www.reuters.com/article/idUSTRE60P6OO20100126?type=globalMarketsNews | archive-date=January 30, 2010 | url-status=live}}{{cite news | url=https://money.cnn.com/2010/02/12/news/companies/Berkshire_Hathaway_Buffett/ | title=Buffett's Berkshire Hathaway joins S&P 500 Index | publisher=CNN | date=February 12, 2010 | first=Hibah | last=Yousuf | archive-url=https://web.archive.org/web/20100424085533/https://money.cnn.com/2010/02/12/news/companies/Berkshire_Hathaway_Buffett/ | archive-date=April 24, 2010 | url-status=live}}

On March 16, 1980, Berkshire became a public company via an initial public offering, selling Class A shares for $290 each.{{Cite news | url=https://www.fool.com/investing/2024/09/26/3-stocks-that-turned-1000-into-1-million-or-more/ | title=3 Stocks That Turned $1,000 Into $1 Million (or More) | first=Leo | last=Sun | work=The Motley Fool |date=September 26, 2024}} Shares closed over $1,000 for the first time on August 26, 1983 and over $10,000 on October 16, 1992.{{Cite news | url=https://www.cnbc.com/2014/08/14/buffetts-berkshire-hits-200000-milestone.html | title=Buffett's Berkshire hits $200,000 milestone | first=Alex | last=Crippen | publisher=CNBC | date=August 14, 2014}} Shares closed over $100,000 for the first time on October 23, 2006.{{Cite news | url=https://www.nbcnews.com/id/wbna15392370 | title=Berkshire Hathaway shares close at $100,000 | agency=Associated Press | publisher=NBC News | date=October 24, 2006}} They first closed over $200,000 on August 14, 2014. Shares closed over $500,000 for the first time on March 16, 2022.{{Cite news | url=https://www.cnbc.com/2022/03/16/berkshire-hathaway-closes-at-a-record-above-500000-a-share-as-buffetts-conglomerate-roars-back.html | title=Berkshire Hathaway closes at a record above $500,000 a share as Buffett's conglomerate roars back | first=Yun | last=Li | publisher=CNBC | date=March 16, 2022}}

The salary for Buffett is $100,000 per year with no stock options, which is among the lowest salaries{{cite news | url=https://www.forbes.com/2001/04/26/buffett.html | title=Warren Buffett: Value Man Through And Through | work=Forbes | date=April 26, 2001 | url-access=limited | archive-url=https://web.archive.org/web/20180213135405/https://www.forbes.com/2001/04/26/buffett.html|archive-date=February 13, 2018 | url-status=live}} for CEOs of large companies in the United States.{{cite news | url=https://money.cnn.com/2007/05/05/news/newsmakers/buffett/index.htm | title=Being Buffett ... and blunt | first=Susan | last=Lisovicz | publisher=CNN | date=May 5, 2007 |archive-url=https://web.archive.org/web/20071213061247/https://money.cnn.com/2007/05/05/news/newsmakers/buffett/index.htm?postversion=2007050517 | archive-date=December 13, 2007 | url-status=live}} Buffett's salary has not changed in 35 years. Buffett also receives approximately $300,000 worth of home security services from the company annually.

Abel and Jain each receive a salary of $20 million per year, with a possible $3 million annual bonus at the discretion of Buffett.

Buffett's letters to shareholders are published annually.

Berkshire's annual shareholders' meetings, nicknamed "Woodstock for Capitalists", take place at the CHI Health Center Omaha in Omaha, Nebraska. Attendance generally totals over 40,000 people and the meetings last for 6 to 8 hours, with Buffett himself, as well as Abel and Jain, answering questions from shareholders.{{Cite news | url=https://www.reuters.com/business/want-attend-warren-buffetts-woodstock-capitalists-get-vaccinated-2022-02-26/ | title=Want to attend Warren Buffett's 'Woodstock for Capitalists'? Get vaccinated. | first=Jonathan | last=Stempel | publisher=Reuters | date=February 27, 2022}}{{Cite news | url=https://qz.com/emails/quartz-obsession/1269094/ | title=Berkshire Hathaway's annual meeting | work=Quartz | date=May 4, 2018 |archive-url=https://web.archive.org/web/20190330055956/https://qz.com/emails/quartz-obsession/1269094/ | archive-date=March 30, 2019 | url-status=live}}

Known for their humor and light-heartedness, the meetings typically start with a cartoon made for Berkshire shareholders.

• The 2004 cartoon featured Arnold Schwarzenegger in the role of "The Warrenator" who travels through time to stop Buffett and Munger's attempt to save the world from a "mega" corporation formed by Microsoft-Starbucks-Wal-Mart. Schwarzenegger is later shown arguing in a gym with Buffett regarding Proposition 13.{{cite news | url=https://money.cnn.com/2004/05/01/pf/buffett_day_two/index.htm | title=Folksy fun at Buffett meeting | first=Jason | last=Zweig | publisher=CNN | date=May 1, 2004}}
• The 2006 cartoon depicted actresses Jamie Lee Curtis and Nicollette Sheridan lusting after Munger.{{cite news | url=https://www.fool.com/investing/value/2006/05/26/berkshire-behind-the-scenes-part-1.aspx | title=Berkshire Behind the Scenes: Part 1 | first=Rick | last=Casterline | work=The Motley Fool | date=May 26, 2006}}{{Cite news | url=https://www.ft.com/content/bd8d5b5a-dde0-11da-af29-0000779e2340 | title=Buffett shows star quality at annual meeting | first=Richard | last=Beales | work=Financial Times | date=May 7, 2006}}
• The 2007 cartoon included Buffett playing basketball against LeBron James.{{Cite news | url=https://money.cnn.com/2007/06/14/commentary/sportsbiz/index.htm | title=LeBron: The next Buffett? | first=Chris | last=Isidore | publisher=CNN | date=June 14, 2007}}{{Cite news | url=https://www.wsj.com/articles/BL-MB-1240 | title=Buffett Plays Basketball | work=The Wall Street Journal | date=May 5, 2007 | url-access=subscription}}
• The 2008 cartoon depicted Charlie Munger becoming President of the United States, after which he promotes eating at Dairy Queen to relieve the effects of increased temperatures due to climate change.{{Cite magazine | url=https://business.time.com/2008/05/03/liveblogging_the_berkshire_hat/ | title=Liveblogging the Berkshire Hathaway annual meeting | first=Barbara | last=Kiviat | magazine=Time | date=May 3, 2008}}
• The 2009 cartoon, aired just after the 2008 financial crisis, showed a new mattress, named The Nervous Nellie, which has a hidden compartment for people who prefer to hide their money in the mattress than put it in the bank.{{Cite web | url=https://buffett.cnbc.com/video/2009/05/02/morning-session---2009--berkshire-hathaway-annual-meeting.html | title=Morning Session - 2009 Meeting | publisher=CNBC | date=May 2, 2009}}
• The 2016 cartoon featured a spoof of the 1983 film Trading Places; in this version, Munger and Jain along with the GEICO gecko conspire to manipulate the market for cocoa beans to affect See’s Candy.{{Cite news | url=https://archive.nytimes.com/www.nytimes.com/live/warren-buffett-woodstock-capitalists-shareholder-meeting-2016/the-show-before-the-show/ | title=Dispatches From 'Woodstock for Capitalists' | first=Michael J. | last=de la Merced | work=The New York Times | date=April 30, 2016}}
• The 2022 cartoon featured a veterinarian who expanded his business using his American Express credit card.{{Cite news | url=https://www.thestreet.com/investing/inside-look-berkshire-hathaways-shareholders-only-movie | title=An Inside Look at Berkshire Hathaway's Shareholders-Only Movie | work=TheStreet.com | date=April 30, 2022}}

Current members of the board of directors of Berkshire Hathaway are Warren Buffett (chairman), Greg Abel (vice chairman of non-insurance business operations), Ajit Jain (vice chairman of insurance operations), Chris Davis, Susan Alice Buffett (Buffett's daughter), Howard Graham Buffett (Buffett's son), Ronald Olson, Kenneth Chenault, Steve Burke, Susan Decker, Meryl Witmer, Charlotte Guyman, Esteban Rodriguez Jr.

Charlie Munger served as vice chairman of the company from 1978 until his death on November 28, 2023.{{Cite news | url=https://www.reuters.com/business/berkshire-hathaway-vice-chairman-charlie-munger-dies-99-2023-11-28/ | title=Charlie Munger, who was Warren Buffett's right-hand man at Berkshire, dies at 99 | first=Jonathan | last=Stempel | publisher=Reuters | date=November 29, 2023}}

David L. Sokol, CEO of Berkshire Hathaway Energy until early 2008,{{Cite news | url=https://www.theledger.com/story/news/2010/08/24/berkshire-hathaway-exec-cant-break-away/26330976007/ | title=Berkshire Hathaway Exec Can't Break Away | first1=ANDREW | last1=FRYE | first2=BETTY | last2=LIU | work=The Ledger | date=August 24, 2010}} was a top lieutenant for Buffett. Sokol, who was paid $24 million per year, resigned from Berkshire in 2011 after it was disclosed that he personally made a $3 million profit from Berkshire Hathaway's purchase of Lubrizol.{{Cite news | url=https://www.theguardian.com/business/2011/apr/30/warren-buffett-big-mistake-david-sokol-lubrizol | title=Warren Buffett admits 'I made a big mistake' over David Sokol's purchase of Lubrizol shares | first=Dominic | last=Rushe | work=The Guardian | date=April 30, 2011}}

In October 2010, Berkshire announced that 39-year old Todd Combs, manager of the hedge fund Castle Point Capital, would join as an investment manager.{{cite news |url=https://www.reuters.com/article/idUSTRE69O52R20101025 |title=Berkshire moves step closer to Buffett succession | publisher=Reuters |date=October 25, 2010 |archive-url=https://web.archive.org/web/20101029044033/http://www.reuters.com/article/idUSTRE69O52R20101025|archive-date=October 29, 2010 |url-status=live}}{{cite news | url=https://www.nytimes.com/2010/10/26/business/26berkshire.html | title=Warren Buffett Hires Todd Combs to Invest for Berkshire | work=The New York Times | date=October 26, 2010 | url-access=limited}}{{Cite news | url=https://www.cnbc.com/2010/10/25/berkshires-hiring-of-hedge-fund-manager-creates-instant-leading-contender-for-warren-buffetts-investment-role.html | title=Buffett Watch: Berkshire's Hiring of Hedge Fund Manager Creates Instant Leading Contender for Warren Buffett's Investment Role | first=Alex | last=Crippen | publisher=CNBC | date=October 25, 2010}}{{Cite news | url=https://www.marketwatch.com/story/berkshire-names-new-investment-manager-2010-10-25 | title=Berkshire names new investment manager | first=Alistair | last=Barr | work=MarketWatch | date=October 25, 2010 | url-access=limited}}

In early 2012, 50-year-old Ted Weschler, founder of Peninsula Capital Advisors, joined Berkshire as a second investment manager.{{cite web |url=http://pdf.secdatabase.com/741/0001193125-13-087679.pdf |title=Berkshire Hathaway, Form 10-K, Annual Report, Filing Date |publisher=SECDatabase | date=March 1, 2013 |archive-url=https://web.archive.org/web/20130522084440/http://pdf.secdatabase.com/741/0001193125-13-087679.pdf |archive-date=May 22, 2013 |url-status=live}}{{cite press release | url=https://www.businesswire.com/news/home/20110912005483/en/Berkshire-Hathaway-to-Add-Second-Investment-Manager | title=Berkshire Hathaway to Add Second Investment Manager | publisher=Business Wire | date=September 12, 2011}}

In January 2018, Berkshire Hathaway appointed Ajit Jain and Greg Abel to vice-chairman roles. Abel was appointed vice chairman for non-insurance business operations, and Jain became vice chairman of insurance operations.{{cite web |url=http://pdf.secdatabase.com/14/0001193125-18-008311.pdf |title=Berkshire Hathaway Inc, Current Report | date=January 10, 2018 | publisher=SECDatabase |archive-url=https://web.archive.org/web/20180424135921/http://pdf.secdatabase.com/14/0001193125-18-008311.pdf | archive-date=April 24, 2018 | url-status=live}}{{cite news | url=https://www.businessinsider.com/warren-buffetts-berkshire-hathaway-expands-its-board-2018-1 |title=Warren Buffett's Berkshire Hathaway expands its board | work=Business Insider | date=January 10, 2018 | archive-url=https://web.archive.org/web/20180110173905/https://www.businessinsider.com/warren-buffetts-berkshire-hathaway-expands-its-board-2018-1 | archive-date=January 10, 2018 | url-status=live}}

In May 2021, Buffett named Greg Abel to be his successor as CEO of Berkshire Hathaway.{{Cite news |url=https://www.cnn.com/2021/05/03/investing/warren-buffett-succesor-greg-abel/index.html |title=Warren Buffett names his successor | first=Chris | last=Isidore | publisher=CNN |date=May 3, 2021}}

In 2007, the company was named by Barron's as the most respected company in the world based on a survey of American money managers.{{cite news |url=https://www.cnbc.com/2007/09/10/warren-buffetts-berkshire-hathaway-named-most-respected-in-barrons-survey.html | title=Warren Buffett's Berkshire Hathaway Named 'Most Respected' in Barron's Survey | first=Alex | last=Crippen | publisher=CNBC | date=September 10, 2007}} It was named second after Apple Inc. on the same survey in 2014{{Cite news | url=https://www.barrons.com/articles/SB50001424053111904544004579644373669102220 | title=The World's Most Respected Companies | first=Vito J. | last=Racanelli | work=Barron's | date=June 28, 2014 | url-access=subscription}} and 2015{{Cite news | url=https://www.barrons.com/articles/apple-tops-barrons-list-of-respected-companies-1435372737 | title=Apple Tops Barron's List of Respected Companies | first=Vito J. | last=Racanelli | work=Barron's | date=June 27, 2015 | url-access=subscription}} and was second behind Johnson & Johnson in 2016.{{Cite news | url=https://www.barrons.com/articles/j-j-supplants-apple-as-barrons-most-respected-company-1465020337 | title=J&J Supplants Apple as Barron's Most Respected Company | first=Vito J. | last=Racanelli | work=Barron's | date=June 4, 2016 | url-access=subscription}}

In July 2022, Trident Mortgage Company, a subsidiary of HomeServices of America (owned by Berkshire Hathaway), agreed to a $20 million settlement with the U.S. Department of Justice and the Consumer Financial Protection Bureau over allegations of redlining in the Philadelphia area. Federal investigators found that Trident failed to provide equal access to mortgage credit in neighborhoods with large Black and Latino populations.{{Cite web |title=Justice Department and Consumer Financial Protection Bureau Secure Agreement with Trident Mortgage Company to Resolve Allegations of Lending Discrimination |url=https://www.justice.gov/archives/opa/pr/justice-department-and-consumer-financial-protection-bureau-secure-agreement-trident-mortgage |publisher=United States Department of Justice |date=July 27, 2022}}{{Better|date=March 2025}}

In January 2025, the Consumer Financial Protection Bureau filed a lawsuit against Vanderbilt Mortgage and Finance, a Berkshire Hathaway subsidiary, alleging the company steered borrowers into unaffordable loans. The complaint described aggressive lending practices that resulted in financial hardship, late fees, and in some cases, home loss or bankruptcy.{{Cite web |title=CFPB Sues Vanderbilt for Setting Borrowers Up to Fail in Manufactured Home Loans |url=https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-vanderbilt-for-setting-borrowers-up-to-fail-in-manufactured-home-loans/ |publisher=Consumer Financial Protection Bureau |date=January 18, 2025}}{{Better|date=March 2025}}

A 2025 Reuters investigation reported that Berkshire Hathaway Energy continues to operate several of the most polluting coal-fired power plants in the United States. Despite investments in renewable energy, the company was criticized for its decision to operate these plants until at least 2049, raising public health and environmental concerns.{{Cite web |title=Buffett's Berkshire Hathaway Operates Dirtiest Set of Coal-Fired Power Plants in U.S. |url=https://www.reuters.com/investigations/buffetts-berkshire-hathaway-operates-dirtiest-set-coal-fired-power-plants-us-2025-01-14/ |publisher=Reuters |date=January 14, 2025}}

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• List of Berkshire Hathaway publications

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• {{Official website|https://www.berkshirehathaway.com}}

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