Berkshire Hathaway INC: insider trades · United States · SEC (Form 4)

About Berkshire Hathaway INC

Berkshire Hathaway Inc. is a U.S.-listed conglomerate, traded in the American market on NYSE/NASDAQ terms, with its Class A shares BRK.A primarily associated with the NYSE. The company is headquartered in Omaha, Nebraska, United States, where it has remained rooted for decades. Berkshire’s identity is closely tied to Warren Buffett, who reshaped a former textile business into one of the world’s most diversified capital-allocation platforms. Today, Berkshire operates as a decentralized holding company with a long-term ownership mindset, strong cash generation, and a highly disciplined approach to capital deployment. The group’s business model rests on several core pillars. First is insurance, which is the economic engine of Berkshire. Its insurance operations include GEICO, Berkshire Hathaway Primary Group, and Berkshire Hathaway Reinsurance Group. Insurance provides underwriting profits when pricing is favorable and, crucially, generates float that Berkshire can invest over time. The second major pillar is BNSF, one of the largest freight rail networks in North America, which gives Berkshire exposure to essential transportation infrastructure. A third pillar is Berkshire Hathaway Energy, a regulated utility and energy platform active in power generation, transmission, distribution, and related energy services. Beyond that, Berkshire owns a broad set of manufacturing, service, retail, and distribution businesses across industrial, consumer, and logistics-related niches. Berkshire’s competitive position is unusual. Few companies combine large-scale insurance, a strategic rail franchise, regulated utilities, and a portfolio of private operating businesses and marketable securities with similar breadth. This diversification helps reduce reliance on any single end market, but it also means the company carries substantial capital intensity and earnings exposure across multiple cycles. Berkshire is also a major investor in public equities, so its reported results can be materially influenced by market-driven gains and losses on its investment portfolio. Geographically, Berkshire remains predominantly U.S.-centered operationally, although some subsidiaries have international exposure, especially in insurance and certain industrial businesses. The latest annual reporting shows a very broad operating footprint, with major groupings including insurance, BNSF, BHE, manufacturing, service and retailing, McLane, and Pilot. The company’s 2025 annual report highlights the scale of capital employed across BHE, BNSF and the industrial platform, underscoring the defensive yet capital-heavy nature of the model. Recent developments are also important. Berkshire’s 2025 annual report shows Gregory E. Abel as President and Chief Executive Officer in 2026, reinforcing the succession transition away from the Buffett era. The same filing also disclosed significant investment impairments related to Kraft Heinz and Occidental, reminding investors that Berkshire’s results still reflect volatility in its listed equity portfolio. For French-speaking investors, Berkshire Hathaway remains a benchmark U.S. holding company: a rare blend of insurance, infrastructure, energy, and long-duration capital allocation on the NYSE/NASDAQ market in the United States.