One of the world's most anticipated financial reports has just dropped over in the United States – that of Warren Buffett's massive conglomerate, Berkshire Hathaway Inc (NYSE: BRK.A) (NYSE: BRK.B).
Like all US stocks, Berkshire is required to report its financials every three months, making its four quarterly reports some of the most anticipated on the American (and global) financial calendar.
The latest of these reports was released over the weekend, and covers the three months to 30 September 2025.
It's a notable report because it is the second-to-last one that Buffett will deliver as CEO of Berkshire. Earlier this year, the legendary 95-year-old investor announced he would be stepping down as CEO in January 2026, ending a monumentally successful tenure of more than six decades at the head of Berkshire Hathaway. He will still stay on as chairman, though.
Perhaps as a result, the Berkshire share price has had a fairly lacklustre year (up around 6%) to date, as investors slowly come to terms with the inevitable transition that almost all have dreaded.
But let's get to the latest numbers out of the massive company.
Has Buffett been buying or selling stocks?
Over the most recent quarter, the company's 10F filing shows that Buffett has continued to be a net seller of stocks. That's a position he has historically been uncomfortable about. The filing revealed that the company recorded US$10.4 billion in taxable gains over the three-month period. That included US$6.1 billion worth of sales of common stocks.
Unfortunately, we will have to wait a little longer to see exactly which stocks Buffett was selling, though. As of the most recent numbers, the company's top five public holdings include Apple Inc (NASDAQ: AAPL), American Express Inc (NYSE: AXP), Bank of America Corp (NYSE: BAC), Coca-Cola Co (NYSE: KO), and Chevron Corporation (NYSE: CVX).
Buffett also did not undertake any additional buybacks of Berkshire's own shares during the quarter, something he has been concentrating his efforts on in recent years.
Overall, Berkshire recorded a 34% rise in operating profits (year on year) to US$13.49 billion, and a 17% increase in quarterly net income to US$30.8 billion. Buffett always tells investors to disregard that net figure, though, as it includes on-paper investment gains.
This latest profit allowed Berkshire's gargantuan cash pile to climb to another record high. Berkshire reported that it now has a whopping US$381.6 billion in cash and cash equivalents. Going off Buffett's past behaviour, this could indicate that he simply sees nothing worth buying at the current time. Or perhaps it indicates that Buffett expects to see significant buying opportunities in the not-too-distant future.
Only time will tell if the 'Oracle of Omaha' is on the money on that one.
