Warren Buffet and Greg Abel lead the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025. The company reported a 34% jump in operating profit to $13.485 billion in the third quarter, driven by a 200% surge in insurance underwriting income. Despite a record cash hoard of $381.6 billion, there were no buybacks in 2025.

Buffett refrained from repurchasing shares despite a stock pullback. Berkshire’s cash hoard grew to $381.6 billion in 2025, surpassing the previous high of $347.7 billion. The company also sold equities in the third quarter for a taxable gain of $10.4 billion. Buffett announced his upcoming retirement as CEO at the year-end, with Greg Abel set to take over. Abel will start writing annual letters in 2026.

Berkshire Hathaway announced a deal to acquire Occidental Petroleum’s petrochemical unit, OxyChem, for $9.7 billion in cash, marking the company’s largest deal since 2022. The conglomerate’s shares have dropped double digits from all-time highs following Buffett’s retirement announcement, reflecting the so-called “Buffett premium” investors pay for his exceptional record and skills.

Read more at CNBC: Berkshire Hathaway BRK earnings Q3 2025