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Berkshire shares left behind as S&P 500 rallies to file excessive
On the shut on March 31, Berkshire shares have been nearly even with the S&P with year-to-date losses of round 4.7%.
The day earlier than, Berkshire B was operating 1.8 proportion factors forward of the S&P, its greatest lead of the yr.
Friday, it closed 9.7 proportion factors behind the index, its greatest hole thus far in 2026.
On their very own phrases, Berkshire shares haven’t been performing properly since they closed at file highs on Could 2, 2025, simply earlier than Warren Buffett introduced he can be stepping down as CEO on the finish of that yr.
Whereas they’re round 3% above their early-August lows, each courses at the moment are down a bit greater than 12% since Buffett’s announcement.
Berkshire’s monetary historical past will get an replace
BUFFETT & BERKSHIRE AROUND THE INTERNET
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HIGHLIGHTS FROM CNBC’S BUFFETT ARCHIVE
‘We do not begrudge the taxes we pay’ (2014)
Warren Buffett and Charlie Munger clarify why they do not attempt to get round paying U.S. taxes.
ANDREW ROSS SORKIN: “Berkshire paid $8.9 billion in taxes in 2013. Pfizer is at present considering an acquisition that will permit it to maneuver its technical holding firm abroad and thereby save earnings tax expense and create shareholder worth. Is that this one thing you and Charlie would ever think about if it might create worth for Berkshire shareholders?”
WARREN BUFFETT: I feel the reply to that’s no.
What do you say, Charlie? (Applause)
CHARLIE MUNGER: I feel it might be — I feel it might be loopy to be as affluent as Berkshire and get our tax to zero whereas we stay this affluent. That may not be a legit perfect. (Applause)
WARREN BUFFETT: Yeah.
We couldn’t have carried out Berkshire in some other nation besides the US, both. You understand, and simply take a look at what we have acquired and the whole lot.
America has, in a really, very, very huge means, helped Charlie and I change into very, very, very wealthy. (Laughs). Charlie?
CHARLIE MUNGER: I’ve obtained no complaints. And I go searching at this group, I see you at breakfast, it is a very glad group of individuals.
I do not suppose lots of people are gnashing their tooth that any individual else has just a little extra.
WARREN BUFFETT: However we do not pay — I do not wish to make it holier than thou, these things. We do not pay something past that — once we get all by means of determining tax on our 20,000 page-plus return, we simply do not — we do not add a tip of 20 % or 15 % or something. (Laughter)
And we do sure transactions that are tax pushed. We’re in low-income housing tax credit, which, really, George Bush 41 congratulated me for. So it is bipartisan.
We — the wind power offers we do, the photo voltaic offers we do, they’re tax pushed to — I imply, they will not make financial sense in any other case.
So, we comply with the foundations.
However we do not begrudge the taxes we pay. We have earned some huge cash whereas paying U.S. taxes. (Applause)
BERKSHIRE STOCK WATCH
BRK.A inventory value: ~$711,558.8
BRK.B inventory value: $474.58
BRK.B P/E (TTM): 15.29
Berkshire market capitalization: $1,023,449,080,531
Berkshire Money as of Dec. 31: $373.3 billion (Down 2.2% from Sept. 30)
Excluding Rail Money and Subtracting T-Payments Payable: $369.0 billion (Up 4.1% from Sept. 30)
Berkshire resumed inventory repurchases on March 4, 2026, however has not mentioned whether or not it made any extra buys after that date.
(All figures are as of the date of publication, until in any other case indicated)
BERKSHIRE’S TOP EQUITY HOLDINGS – Apr. 17, 2026
Berkshire’s high holdings of disclosed publicly traded shares within the U.S. and Japan, by market worth, based mostly on the newest closing costs.
Holdings are as of Sept. 30, 2025, as reported in Berkshire Hathaway’s 13F submitting on Nov. 14, 2025, aside from:
The complete checklist of holdings and present market values is accessible from CNBC.com’s Berkshire Hathaway Portfolio Tracker.
QUESTIONS OR COMMENTS
Please ship any questions or feedback in regards to the publication to me at alex.crippen@nbcuni.com. (Sorry, however we do not ahead questions or feedback to Buffett himself.)
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Additionally, Buffett’s annual letters to shareholders are extremely really useful studying. There are collected right here on Berkshire’s web site.
— Alex Crippen, Editor, Warren Buffett Watch
