Berkshire Hathaway shares closed at their highest since Warren Buffett announced his planned departure, driven by buybacks, investments, higher interest rates and a shift from tech stocks.
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01Summary
- 01Class A shares closed at $798,000, just 1.4% below their all-time high of $809,350.
- 02Berkshire spent $4.5 billion on buybacks in Q2 and invested in Alphabet, Taylor Morrison Home, Lennar and Bending Spoons.
- 03Last week's Bending Spoons disclosure included a $330m private placement at $33 per share; shares closed at $47.07 on Friday.
- 04Coca-Cola, a $37.6bn holding, closed at an all-time high on Friday, up 34% year-to-date.
- 05Keefe, Bruyette & Woods analyst Meyer Shields said higher short-term interest rates are helping lift Berkshire's shares.
02Why it matters
The rally signals investor confidence in new CEO Greg Abel's strategy, as the firm deploys part of its $360bn cash pile. Berkshire's performance also reflects a broader market rotation away from AI stocks toward traditional economy names.
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