You’ve probably seen the headlines. Berkshire Hathaway stock performance is always a talking point, but lately, it feels different. We aren’t just talking about a ticker symbol anymore; we are watching the final acts of an era and the messy, fascinating transition into what comes next. Honestly, it’s a lot to keep track of.
The numbers are staggering. In May 2025, the Class A shares hit an all-time high of $809,350. Let that sink in for a second. That is nearly a million dollars for a single share of stock. Even the "affordable" Class B shares (BRK.B) touched roughly $540 around the same time. But as we move through January 2026, the vibe has shifted from pure growth to a sort of watchful waiting. The stock has been hovering around the $490–$500 range for the Class B shares, basically catching its breath after a massive run.
What is Actually Happening With Berkshire Hathaway Stock Performance?
If you look at the raw data, Berkshire had a monster 2024, returning over 25%. That’s the kind of year that makes people forget the "boring value" label. But 2025 was more of a mixed bag. The stock was up about 10-11% for the year, which is solid by any normal standard, but it trailed the S&P 500.
People are getting twitchy. Why? Because Warren Buffett, the "Oracle" himself, has been selling.
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Berkshire dumped a massive chunk of its Apple stake—about 115 million shares in the first quarter of 2025 alone. They even started nibbling on Alphabet (Google's parent company), which was a bit of a shocker for the old-school value crowd. Then there's the cash. The cash pile is now a literal mountain, sitting at more than $340 billion.
It’s kind of wild. Buffett is essentially saying, "I have hundreds of billions of dollars, and I can't find anything worth buying." When the world's greatest investor decides to sit on his hands and hold T-bills, the rest of the market starts to wonder if they should be worried too.
The Elephant in the Room: Successsion
You can't talk about Berkshire Hathaway stock performance without mentioning the 2025 Annual Meeting. It was heavy. Buffett, now 95, essentially gave his "final letter" and announced he was going quiet. Greg Abel is the guy now.
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Is the market scared of a post-Buffett world? Sorta.
We saw a "Buffett discount" start to bake into the price toward the end of 2025. Investors are wondering if Greg Abel can pull off the same magic. Abel is a different beast—more of an operator, less of a "folk hero." Morningstar currently has a fair value estimate of around $765,000 for Class A shares, suggesting the stock might actually be slightly undervalued right now because of all the succession anxiety.
The Financials: Beyond the Stock Price
Operating earnings are the real heartbeat here. In early 2025, Berkshire reported Q1 operating earnings of $11.2 billion. That’s a lot of money coming from insurance underwriting (GEICO is finally performing again) and investment income. Higher interest rates have actually been a secret weapon for Berkshire. Because they hold so much cash in Treasury bills, they are printing money just by doing nothing.
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- Insurance: GEICO’s path forward looks better after some rough years.
- Energy: Berkshire Hathaway Energy (BHE) is facing some massive regulatory headaches and wildfire litigation, which has been a drag on the overall mood.
- Buybacks: They’ve slowed down. Buffett only buys back shares when they are "almost certainly" underpriced. Right now? He’s not buying much.
Why the 2026 Outlook is Boring (In a Good Way)
Most analysts expect the stock to stay relatively flat or rise slowly this year. The consensus 12-month forecast for BRK.B is around $528. It's not a "moon" stock. It's a "don't lose my money" stock.
The big question for 2026 is what happens to that $340 billion. If the market cracks and prices drop, Berkshire will be the only one with the dry powder to buy entire companies. That’s their superpower. They are the "lender of last resort."
Real Insights for the Long Haul
If you're holding Berkshire, you aren't looking for a quick flip. You're betting on a culture. The company is basically a giant insurance business with a massive hedge fund and a collection of random businesses (like See's Candies and Duracell) attached to it.
The biggest risk isn't that the businesses fail. It’s that without Buffett's "aura," the stock might trade at a lower valuation permanently. But honestly? The math still works. Even without the Oracle, the compounding machine is built to keep running.
Actionable Steps for Investors
- Watch the Price-to-Book Ratio: Historically, Berkshire is a "buy" when it gets close to 1.2x book value. Currently, it's hovering a bit higher, but keep an eye on it during market dips.
- Monitor the Cash: If that $340 billion starts getting deployed into a major acquisition (like the rumored OxyChem deal), it could be a massive catalyst for the stock.
- Don't Panic Over "Underperformance": Berkshire often lags in a raging bull market because it doesn't own the "shiny new things" in AI. It shines when things get ugly.
- Class A vs Class B: Unless you have $700k+ lying around, stick to Class B. They are more liquid and easier to trade without the massive bid-ask spreads of the Class A shares.
Berkshire Hathaway isn't just a stock. It’s a fortress. It might not be the most exciting thing in your portfolio, but when the "casino" (as Buffett calls the market) gets out of hand, you’ll be glad you have a piece of the "cathedral."