1962 - 2026 • The Complete Record
Every Acquisition Warren Buffett
Ever Made at Berkshire Hathaway
Wholly-owned subsidiaries, stock portfolio positions, what he paid, what they do, and what happened next.
70+Companies Owned
$150B+Spent on Deals
$274BStock Portfolio
$1T+Market Cap
19.9%CAGR 1965-2024
Where It All Began
A spiteful purchase that became a $1 trillion empire
Berkshire Hathaway - The Textile Company That Changed Everything
In 1962, Warren Buffett started buying shares of Berkshire Hathaway at $7.50 per share through his investment partnership, Buffett Partnership Ltd. The company was a struggling New England textile manufacturer formed from the 1955 merger of Hathaway Manufacturing and Berkshire Fine Spinning Associates. Buffett saw a pattern - every time Berkshire closed a mill, it bought back shares. He planned to accumulate stock and sell into the next tender offer for a quick profit.
In 1964, the company's CEO Seabury Stanton offered to buy Buffett's shares at $11.50 each. They shook on it. But when the written offer arrived, it read $11.375 - an eighth of a point less than agreed. Buffett was furious. Instead of selling, he bought more stock at even higher prices, took control of the company by April 1965, and fired Stanton. Buffett later called it the dumbest investment he ever made - a $14 million bet on a dying textile business made out of pure spite. He estimated the emotional decision cost him roughly $200 billion in lost compounding over the decades, since the money would have performed far better if invested directly through his partnership instead of being trapped in a struggling textile operation.
But from that terrible starting point, Buffett built an empire. He kept the Berkshire Hathaway name and used the company as his acquisition vehicle, pivoting away from textiles into insurance, and then into everything else. The textile operations limped along until 1985, when Buffett finally shut them down. By then, Berkshire was already a conglomerate worth billions. In August 2024, it became the first non-technology company to reach a $1 trillion market cap.
The Empire - Wholly-Owned & Majority Acquisitions
Every company Berkshire Hathaway bought outright or took a controlling stake in
Swipe or scroll → to see full details
| Year | Company | Price | Stake | Sector | What They Do |
|---|---|---|---|---|---|
| ◆ The 1960s - Insurance & First Steps | |||||
| 1967 | National Indemnity Co. | $8.6M | 100% | Insurance | Omaha-based auto insurer. Berkshire's first acquisition and entry into the insurance business. The float from this company funded decades of investments. |
| 1967 | National Fire & Marine | Incl. above | 100% | Insurance | Acquired alongside National Indemnity as part of the same deal. Property and casualty insurer. |
| 1968 | Sun Newspapers | ~$0.5M | 100% | Media | Group of Omaha-area weekly newspapers. Small early acquisition, later sold. |
| 1969 | Illinois National Bank & Trust | ~$15.5M | 100% | Banking | Rockford, Illinois bank. Run by Eugene Abegg, who Buffett admired. Later divested due to the Bank Holding Company Act of 1969. |
| ◆ The 1970s - Candy, Media & Foundations | |||||
| 1972 | See's Candies | $25M | 100% | Consumer | Iconic California boxed chocolate maker. Purchased via Blue Chip Stamps. Generated over $2 billion in cumulative pre-tax earnings. Buffett's first great brand acquisition and the deal that taught him about pricing power. |
| 1973 | Wesco Financial | Various | 80%→100% | Finance | Financial holding company managed by Charlie Munger. Berkshire accumulated shares over decades, fully acquiring remaining 19.9% for $547M in 2011. |
| 1977 | Buffalo Evening News | $32.5M | 100% | Media | Niagara Falls-area newspaper. Fought brutal circulation war, eventually became monopoly paper. Sold to Lee Enterprises in 2020 as part of newspaper divestiture. |
| 1978 | Berkshire Hathaway Homestate Cos. | Internal | 100% | Insurance | Collection of six insurance companies consolidated under one brand. Provides workers' comp, commercial auto, and property insurance across multiple states. |
| ◆ The 1980s - Furniture, Shoes & Encyclopedias | |||||
| 1983 | Nebraska Furniture Mart | ~$60M | 90% | Retail | Largest home furnishings store in America, founded by Russian immigrant Rose Blumkin ("Mrs. B"). Buffett bought it on a handshake - no audit needed. Still family-managed. |
| 1983 | Blue Chip Stamps | Merger | 100% | Finance | Trading stamp company that Buffett and Munger had been accumulating since the early 1970s. Merged into Berkshire. Owned See's Candies and the Buffalo News. |
| 1986 | Scott Fetzer Company | $315M | 100% | Manufacturing | Diversified Cleveland manufacturer. Produced Kirby vacuum cleaners, World Book encyclopedias, and Campbell Hausfeld air compressors, among other products. |
| 1986 | Fechheimer Brothers | $46M | 84% | Manufacturing | Cincinnati-based manufacturer and distributor of public safety and military uniforms. Police, fire, and military dress uniforms. |
| 1989 | Borsheim's | Undisclosed | 80% | Retail | Omaha jewelry store. One of the largest independent jewelry stores in America. Buffett bought an 80% stake and told management "Don't change a thing." |
| ◆ The 1990s - Insurance Empire & Ice Cream | |||||
| 1991 | H.H. Brown Shoe | ~$161M | 100% | Manufacturing | Work boots and casual footwear manufacturer. Later absorbed Dexter Shoe and Lowell Shoe into the H.H. Brown umbrella. |
| 1991 | Central States Indemnity | ~$81M | 82% | Insurance | Omaha-based insurance company specializing in credit insurance and supplemental health products. |
| 1993 | Dexter Shoe Company | $433M* | 100% | Manufacturing | Maine-based shoe manufacturer. *Paid with 25,203 shares of Berkshire stock. Buffett called this his worst deal ever - the shoes couldn't compete with foreign imports and those shares are now worth over $9 billion. |
| 1995 | Helzberg Diamonds | ~$470M | 100% | Retail | Kansas City-based jewelry chain operating in malls across America. The founder's son pitched Buffett on the street outside the New York Plaza Hotel. |
| 1995 | RC Willey Home Furnishings | ~$175M | 100% | Retail | Utah-based home furnishing retailer. Famously closed on Sundays. Buffett loved the management and let them keep the policy. |
| 1996 | GEICO | $2.3B | 100% | Insurance | Government Employees Insurance Company. Buffett first invested at age 20 in 1951 after visiting their offices. Berkshire bought the remaining 49% it didn't already own. Now the second-largest U.S. auto insurer behind State Farm. |
| 1996 | FlightSafety International | $1.5B | 100% | Aviation | World's leading provider of professional aviation training. Uses advanced flight simulators to train pilots for corporate, commercial, and military aviation. |
| 1997 | Dairy Queen | $585M | 100% | Restaurant | International fast-food chain with 7,000+ locations known for soft-serve ice cream, Blizzards, and burgers. Buffett was a longtime fan of their Dilly Bars. |
| 1997 | Star Furniture | Undisclosed | 100% | Retail | Largest furniture retailer in Texas. Houston-based chain that complemented Nebraska Furniture Mart in Berkshire's home furnishing portfolio. |
| 1998 | General Re | $22B | 100% | Insurance | Global reinsurance giant based in Stamford, CT. Berkshire's largest deal at the time, paid in Class A shares. Provided massive float. Buffett later said he overpaid. |
| 1998 | NetJets (Executive Jet) | $725M | 100% | Aviation | World's largest fractional jet ownership company. Invented shared private jet ownership in 1986. Now operates 750+ aircraft worldwide. |
| 1999 | MidAmerican Energy Holdings | $2.1B | 76%→92% | Energy | Iowa-based utility company. Renamed Berkshire Hathaway Energy. Now a $26 billion revenue powerhouse owning PacifiCorp, NV Energy, and massive wind/solar operations. Greg Abel ran this company before becoming Berkshire CEO. |
| 1999 | Jordan's Furniture | ~$200M | 100% | Retail | New England furniture retailer famous for its in-store entertainment experiences including IMAX theaters and trapeze schools inside the stores. |
| ◆ The 2000s - Building Materials, Boots & Railways | |||||
| 2000 | CORT Business Services | Undisclosed | 100% | Services | Largest U.S. provider of rental furniture for businesses, apartments, and events. Acquired through Wesco Financial. Operates in the "rent-to-rent" segment of the furniture rental industry. |
| 2000 | Justin Industries / Acme Brick | $600M | 100% | Manufacturing | Texas-based holding company. Main assets: Acme Brick (largest U.S. brick maker), Justin Boots (iconic Western boot brand including Tony Lama and Nocona). |
| 2000 | Ben Bridge Jeweler | Undisclosed | 100% | Retail | Founded in 1912. Family-owned luxury jewelry retailer with 90+ stores across 11 states. Third jewelry retailer in Berkshire's collection. |
| 2000 | Shaw Industries | ~$2.1B | 100% | Manufacturing | World's largest carpet and flooring manufacturer, based in Dalton, Georgia. Acquired 87% in 2000-2001, remainder in January 2002. |
| 2000 | Benjamin Moore | $1B | 100% | Manufacturing | Premium paint manufacturer founded in 1883. Known for high-quality architectural coatings sold through 5,000+ independent retailers. |
| 2001 | Johns Manville | $1.8B | 100% | Manufacturing | Leading manufacturer of insulation, roofing, and building materials. Founded in 1858. One of the largest building products companies in North America. |
| 2001 | MiTek Industries | ~$400M | 100% | Manufacturing | Global supplier of engineered connector products, construction software, and services for the building components industry. |
| 2001 | XTRA Corporation | $578M | 100% | Transport | One of the largest trailer leasing companies in North America. Leases over-the-road trailers and intermodal containers to trucking and shipping companies. |
| 2002 | Larson-Juhl | Undisclosed | 100% | Manufacturing | World's leading designer, manufacturer, and distributor of custom picture frame mouldings. Products include wood and metal molding, matboard, and framing supplies. |
| 2002 | Fruit of the Loom | $835M | 100% | Consumer | Iconic underwear and casualwear brand founded in 1851. Acquired out of bankruptcy. 32,000+ employees. Also owns Vanity Fair brands. |
| 2002 | The Pampered Chef | Undisclosed | 100% | Consumer | Largest direct seller of kitchen tools in the U.S. Founded by a home economics teacher. Sells through a network of 65,000+ independent consultants via in-home demonstrations. |
| 2002 | CTB International | ~$200M | 100% | Agriculture | Leading global manufacturer of systems and solutions for the poultry, pig, egg production, and grain industries. |
| 2002 | Garan Inc. | $273M | 100% | Consumer | Children's apparel manufacturer known for the Garanimals brand. Makes coordinated children's clothing sold at Walmart and other mass retailers. |
| 2003 | McLane Company | $1.5B | 100% | Distribution | One of America's largest supply chain services companies. Distributes grocery and foodservice products to convenience stores, restaurants, and retailers. Bought from Walmart. 80+ distribution centers. |
| 2003 | Clayton Homes | $1.7B | 100% | Housing | Largest manufacturer of manufactured and modular homes in America. Also provides mortgage financing through 21st Mortgage Corporation and Vanderbilt Mortgage. Based in Maryville, Tennessee. |
| 2005 | Medical Protective | $825M | 100% | Insurance | America's first medical malpractice insurer, founded in 1899. Acquired from GE. Now part of the MedPro Group covering physicians, surgeons, dentists, and hospitals. |
| 2005 | PacifiCorp | $5.1B | 100% | Energy | Electric utility serving 2 million customers across six western states. Acquired through MidAmerican/Berkshire Hathaway Energy. Has faced significant wildfire liabilities. |
| 2005 | Forest River | ~$800M | 100% | Manufacturing | One of America's largest recreational vehicle manufacturers. Also makes cargo trailers, buses, and pontoon boats. Founder Pete Liegl pitched Buffett with a price and they shook hands a week later. Now generates ~$6 billion in annual revenue. |
| 2006 | Business Wire | ~$600M | 100% | Media | Leading global distributor of corporate press releases and regulatory disclosures. Used by companies worldwide to distribute news. |
| 2006 | Iscar / IMC Metalworking | $4B | 80%→100% | Manufacturing | Israeli precision cutting tools manufacturer. Buffett's first major international acquisition. Remaining 20% acquired in 2013 for ~$2B. |
| 2006 | Russell Athletic / Brooks | $600M | 100% | Consumer | Athletic apparel brand acquired through Fruit of the Loom. Included Brooks Running, which Berkshire made an independent subsidiary in 2012. Brooks is now a top-selling running shoe brand worldwide. |
| 2007 | TTI Inc. | Undisclosed | 100% | Distribution | World's largest specialist distributor of passive, interconnect, and electromechanical electronic components. Based in Fort Worth, Texas. |
| 2007 | Richline Group | Undisclosed | 100% | Manufacturing | America's foremost fine jewelry manufacturer and marketer. Formed from Buffett's acquisitions of Bel-Oro and Aurafin. Now a ~$900M revenue business spanning precious metals and finished goods. |
| 2008 | Marmon Group | ~$7.5B | 60%→100% | Manufacturing | Holding company with 125+ diverse manufacturing and service businesses. Bought from the Pritzker family (Hyatt Hotels founders). Acquired in stages - 60% in 2008, remainder by 2013. Products include railroad tank cars, pipes, and industrial materials. |
| 2009 | BNSF Railway | $44B | 100% | Transport | One of North America's largest freight railroads with 32,500 miles of track across 28 states. Berkshire already owned 22.6% and paid $26B for the remaining 77.4% in 2010. Buffett called it "an all-in wager on the economic future of the United States." |
| ◆ The 2010s - Chemicals, Batteries & Aerospace | |||||
| 2011 | Lubrizol | $9.7B | 100% | Chemicals | Wickliffe, Ohio specialty chemical company. Makes additives for transportation and industrial lubricants. Controversial deal - David Sokol, who pitched it, had secretly bought shares first and was forced to resign. |
| 2012 | Oriental Trading Company | Undisclosed | 100% | Retail | One of America's largest direct retailers of party supplies, toys, novelties, and crafts. Based in Omaha. Sells through catalogs and online. |
| 2012 | GUARD Insurance | $221M | 100% | Insurance | Workers' compensation insurer acquired by National Indemnity. Now operates as Berkshire Hathaway GUARD Insurance Companies across multiple states. |
| 2013 | H.J. Heinz Company | $28B* | ~50% | Consumer | Iconic ketchup maker. Joint acquisition with 3G Capital. *Total deal value $28B; Berkshire contributed ~$12B in equity plus $8B in preferred stock. Merged with Kraft in 2015. Now widely considered one of Buffett's worst mistakes. |
| 2013 | NV Energy | $5.6B | 100% | Energy | Nevada's largest electric utility, serving Las Vegas, Reno, and surrounding areas. Acquired through Berkshire Hathaway Energy. |
| 2014 | Van Tuyl Group (BH Automotive) | ~$4.1B | 100% | Auto | Largest independently-owned auto dealership group in America at time of purchase. Renamed Berkshire Hathaway Automotive. Now operates 81+ dealerships. |
| 2014 | AltaLink | $2.9B CAD | 100% | Energy | Alberta, Canada's largest electricity transmission company. 13,000+ km of transmission lines. Acquired through Berkshire Hathaway Energy. |
| 2016 | Precision Castparts | $32.1B | 100% | Aerospace | World leader in aerospace castings, forged components, and airfoil castings. Nearly every aircraft has PCC parts. Berkshire's largest-ever acquisition. Buffett wrote down $10B in 2020 admitting he overpaid. |
| 2016 | Duracell | $4.7B | 100% | Consumer | World's leading battery brand. Acquired from Procter & Gamble in a stock swap - Berkshire exchanged its P&G shares for the battery maker. Clever tax-efficient deal structure. |
| 2017 | Pilot Flying J | ~$14B total | 38.6%→100% | Retail/Energy | Largest operator of truck stops and travel centers in North America with 750+ locations. Initial 38.6% in 2017 ($2.8B). Additional 41.4% for $8.2B in 2023. Final 20% for $3B in 2024. |
| 2018 | MLMIC Insurance | Undisclosed | 100% | Insurance | Largest underwriter of medical professional liability insurance in New York state. Acquired through National Indemnity after converting from a mutual company. Covers physicians, hospitals, and dentists. |
| ◆ The 2020s - Insurance, Chemicals & the Abel Era | |||||
| 2022 | Alleghany Corporation | $11.6B | 100% | Insurance | Insurance and reinsurance holding company. Also brought Jazwares (Squishmallows - the viral plush toy phenomenon selling 100M+ units/year) and W&W/AFCO Steel (steel fabricator) into the Berkshire portfolio. |
| 2025 | Bell Laboratories | Undisclosed | 100% | Manufacturing | World leader in rodent control products. Wisconsin-based pest control manufacturer. Closed July 31, 2025. Buffett, Greg Abel, and Howard Buffett visited headquarters days after closing. |
| 2026 | OxyChem | $9.7B | 100% | Chemicals | Occidental Petroleum's chemical division. Top-three U.S. manufacturer of PVC, chlor-alkali, and calcium chloride. Products used in water treatment, pharma, construction. Completed January 2, 2026 - one of the first deals under CEO Greg Abel. |
The Stock Portfolio - Current Positions
Berkshire's publicly traded equity holdings as of December 31, 2025 (13F filed February 17, 2026) - 42 holdings worth $274.2 billion
Swipe or scroll → to see full details
| Company | Ticker | First Bought | Ownership | Value | % Portfolio | What They Do |
|---|---|---|---|---|---|---|
| Apple Inc. | AAPL | 2016 | ~2.6% | $62B | 22.6% | Consumer electronics, software, services. iPhone, Mac, iPad. Buffett called it "even better" than Coca-Cola. Trimmed another 4% in Q4 2025, continuing a selling pattern since late 2023. |
| American Express | AXP | 1991 | ~21% | $56B | 20.5% | Global payments and credit card company. Buffett first invested in Amex during the 1960s "salad oil scandal." Has never sold a single share in 25+ years. |
| Bank of America | BAC | 2011/2017 | ~8.9% | $28B | 10.4% | One of America's largest banks. Got $5B in preferred stock during 2011 turmoil. Converted warrants to common in 2017. Reduced 9% in Q4, trimming since mid-2024. |
| Coca-Cola | KO | 1988 | ~9.3% | $28B | 10.2% | World's largest beverage company. Has held 400 million shares since 1994 and never sold one. Collects ~$776M/year in dividends on a $1.3B cost basis. |
| Chevron | CVX | 2020 | ~6.6% | $20B | 7.2% | Global energy company. One of the world's largest integrated oil and gas companies. Berkshire continued building this position in Q4 2025. |
| Occidental Petroleum | OXY | 2019 | ~28% | $13B | 4.7% | Oil and gas exploration and production. Berkshire helped fund OXY's Anadarko acquisition and kept buying. Also acquired OxyChem division outright in 2026. |
| Moody's Corporation | MCO | 2000 | ~13% | $12B | 4.4% | One of the "Big Three" credit rating agencies. Berkshire inherited shares when Moody's spun off from Dun & Bradstreet. |
| Kraft Heinz | KHC | 2015 | ~27.5% | ~$8.5B | 3.2% | Global food company (Heinz Ketchup, Oscar Mayer, Kraft Mac & Cheese). EXITING Stock down ~70% since merger. Greg Abel initiated sale process Jan 2026. |
| Chubb Ltd. | CB | 2024 | ~6.7% | ~$7B | 2.6% | World's largest publicly traded P&C insurer. Kept confidential for two quarters before 2024 disclosure. Continued building position through Q4 2025. |
| Alphabet (Google) | GOOGL | Q3 2025 | ~0.3% | ~$5.6B | ~2% | Google parent. Search, cloud, YouTube, Android. Buffett and Munger called not buying Google their biggest mistake. 17.85M shares bought Q3 2025 at ~$209/share. Held through Q4. |
| DaVita Inc. | DVA | 2012 | ~45% | ~$6B | 2.2% | Largest dialysis provider in the U.S. with 2,700+ outpatient centers. Led by Ted Weschler's investment decisions. |
| VeriSign | VRSN | 2013 | ~13% | ~$3B | 1.1% | Operates the authoritative registry for .com and .net domain names. A toll-booth model - every .com domain renewal pays VeriSign. |
| Kroger | KR | 2019 | ~7% | ~$3B | 1.1% | America's largest supermarket chain by revenue. 2,700+ stores under banners including Ralphs, Fred Meyer, and Harris Teeter. |
| Domino's Pizza | DPZ | 2024 | ~3.6% | ~$2.5B | ~0.9% | World's largest pizza chain. Berkshire began building position in 2024 and continued adding through Q4 2025. A franchise-heavy model Buffett would appreciate. |
| Constellation Brands | STZ | 2024 | ~2% | ~$2B | 0.7% | Beer, wine, and spirits producer. Brands include Corona, Modelo, Casa Noble tequila. Reduced 3% in Q4. |
| UnitedHealth Group | UNH | Q2 2025 | <1% | ~$1.3B | ~0.5% | Largest U.S. health insurer. NEW 2025 Classic "buy when others are fearful" move - stock had plummeted 40% on rising costs and billing investigations. |
| Capital One Financial | COF | 2025 | <1% | ~$1B | ~0.4% | Major bank and credit card company. NEW 2025 Buffett adding to financial sector exposure. |
| Sirius XM Holdings | SIRI | 2016 | ~35% | ~$2.5B | 0.9% | Satellite radio provider. Inherited through Liberty Media deal. Facing subscriber pressures from streaming competition. |
| Amazon | AMZN | 2019 | <1% | ~$1B | ~0.4% | E-commerce and cloud giant. Buffett admitted he was "an idiot" for not buying sooner. Position slashed 77% in Q4 2025 (sold 7.7M of 10M shares). |
| Lamar Advertising | LAMR | 2024 | ~6% | ~$1.8B | ~0.7% | Largest outdoor advertising company in the U.S. Billboards, transit, and airport advertising. Continued building through 2025. |
| New York Times | NYT | Q4 2025 | ~2% | ~$352M | ~0.1% | NEW Q4 2025 America's newspaper of record. 5.1M shares purchased. A digital media bet in Buffett's final quarter as CEO. |
| Visa Inc. | V | 2024 | <1% | ~$700M | ~0.3% | World's largest payment processor. NEW 2024 |
| Heico Corporation | HEI | 2024 | <1% | ~$700M | ~0.3% | Aerospace and electronic components manufacturer. NEW 2024 |
| Aon plc | AON | 2024 | <1% | ~$700M | ~0.3% | Global professional services firm focused on risk and insurance brokerage. NEW 2024 |
| Pool Corporation | POOL | 2024 | ~3% | ~$500M | ~0.2% | World's largest wholesale distributor of swimming pool and related outdoor living products. NEW 2024 |
| Japanese Trading Houses (5) | Various | 2020 | ~8-9% each | ~$23B total | ~8.4% | Itochu, Marubeni, Mitsubishi, Mitsui, Sumitomo. Five diversified Japanese conglomerates. Buffett took equal positions - a rare international bet he called a long-term hold. |
The Graveyard - Notable Positions Sold or Exited
Major stock positions Berkshire no longer holds, including some of Buffett's biggest wins and worst mistakes
Swipe or scroll → to see full details
| Company | Bought | Sold | Cost Basis | Outcome | Notes |
|---|---|---|---|---|---|
| Washington Post | 1973 | 2014 | $11M | ~100x return | Buffett's first great stock pick. Bought during Watergate panic. Exchanged for Berkshire shares worth ~$1.1B. Held 41 years. |
| Capital Cities/ABC | 1985 | 1996 | $345M | ~$2.5B (7x) | Helped fund Capital Cities' acquisition of ABC television network. Sold when Disney bought Cap Cities/ABC in 1996. |
| Gillette / P&G | 1989 | 2016 | $600M | ~$5B+ (8x) | $600M in convertible preferred. Gillette merged with P&G in 2005. Berkshire swapped P&G shares for Duracell in 2016. |
| Salomon Brothers | 1987 | 1997 | $700M | $1.7B (2.4x) | Treasury bond scandal forced Buffett to become interim chairman in 1991 to save the firm. Sold to Travelers in 1997. |
| Wells Fargo | 1989 | 2022 | ~$2.9B | Profitable overall | Once Berkshire's largest holding at ~10% ownership. Sold after fake accounts scandal. Fully exited by 2022. |
| Goldman Sachs | 2008 | 2020 | $5B preferred | ~$3.7B profit | Crisis-era investment. $5B in preferred at 10% annually plus warrants. Goldman paid dearly to redeem early. |
| General Electric | 2008 | 2017 | $3B preferred | ~$1.5B profit | Another 2008 crisis deal. $3B in preferred stock at 10% dividend. GE paid a 10% premium to redeem. |
| BYD Company | 2008 | 2025 | $232M | $5B+ (20x+) | Chinese EV and battery maker. Charlie Munger's pick. $232M grew to over $9B at peak. Gradually sold to zero over 2022-2025. |
| USAir (US Airways) | 1989 | 1998 | $358M | Near-total loss | Preferred stock in the airline. Nearly wiped out as the carrier neared bankruptcy. Buffett said he had a 1-800 number to call if tempted to buy airlines again. |
| IBM | 2011 | 2018 | ~$10.7B | ~$2B loss | Buffett's first major tech bet. Built a 5% stake. Sold at a loss as IBM's cloud transition stumbled. Money would have been far better in Google or Amazon. |
| Airlines (4 carriers) | 2016 | 2020 | ~$7-8B | ~$3-4B loss | Delta, Southwest, American, United. Sold all four at the bottom during COVID-19. "The world changed for airlines." |
| Tesco | 2006 | 2014 | ~$2.3B | ~$444M loss | UK grocery giant. Held on too long through accounting scandals and competitive struggles. Buffett called it a "huge mistake." |
| Paramount Global | 2022 | 2024 | ~$1.6B | ~$900M loss | Media company (CBS, Paramount Pictures). Quick in-and-out as streaming economics deteriorated. One of Berkshire's fastest exits. |
The Numbers Behind the Empire
Visualizing six decades of deal-making
Acquisition Spending by Decade
Top 10 Biggest Deals (All Time)
Current Stock Portfolio Breakdown
Sector Breakdown (Wholly-Owned)
Buffett's Biggest Admitted Mistakes
Even the Oracle of Omaha got it wrong sometimes - and he was always the first to say so
Berkshire Hathaway Itself (1962)
The original sin. A $14M purchase of a dying textile company made out of spite. Buffett estimated this emotional decision cost him roughly $200 billion in lost compounding, since the money would have performed better invested directly.
Dexter Shoe (1993)
Paid $433M in Berkshire stock for a shoe company that couldn't compete with imports. The 25,203 shares of Berkshire stock used to pay are now worth over $9 billion. "The worst deal I've made" - because he paid with stock instead of cash.
Kraft Heinz (2015)
Teamed with 3G Capital to create a food giant. Stock has fallen ~70% since the merger. The cost-cutting strategy gutted the brands. Greg Abel initiated exit process in January 2026.
Precision Castparts (2016)
Paid $32.1B for the aerospace parts maker - Berkshire's largest-ever acquisition. In 2020 Buffett wrote down the value by $10 billion. "I was wrong about the normalized earnings."
The Google / Amazon Miss
Berkshire used Google ads at GEICO and saw how powerful the business was, yet Buffett never bought. Munger said they were "ashamed" and "just sat there sucking our thumbs." Berkshire finally invested $4.3B in Alphabet in Q3 2025 - roughly 20 years too late.
Airlines - Again (2016-2020)
After calling airlines a "death trap for investors" for decades, Buffett bought $7-8B in Delta, American, Southwest, and United. Then COVID hit. Sold all four in April 2020 at a $3-4 billion loss.
From $7.50 to $800,000 Per Share
When Warren Buffett started buying Berkshire Hathaway stock in 1962, he paid $7.50 per share for a struggling textile mill. Sixty years and hundreds of acquisitions later, a single Class A share trades above $800,000. A $1,000 investment in 1965 would be worth over $55 million today. The textile operations that started it all were shut down in 1985.
Buffett stepped down as CEO on January 1, 2026, handing the reins to Greg Abel after 60 years at the helm. He remains chairman of the board. Berkshire sits on $354 billion in cash and holds 42 public stock positions worth $274 billion, while its 70+ wholly-owned subsidiaries employ over 400,000 people across insurance, railroads, energy, manufacturing, retail, and technology. The most successful investment vehicle in American history. And it all started because somebody shorted him an eighth of a point.