The Financial Times Editor, Roula Khalaf, curates a selection of top stories in a weekly newsletter titled the Editor’s Digest.
According to the latest quarterly earnings from Berkshire Hathaway, Warren Buffett continued his trend of selling stocks during the first three months of 2025 amidst a widespread market downturn. This marks the tenth consecutive quarter of stock sales, ahead of Buffett’s annual shareholders meeting in Omaha, Nebraska.
Berkshire’s report revealed that Buffett sold $4.7 billion in stocks in the quarter ending March 31, surpassing the $3.2 billion in purchases. These sales contributed to increasing Berkshire’s cash reserves to a record $348 billion, fueled by various business interests including insurance, manufacturing, utilities, North America’s prominent railway, and interest from U.S. Treasury holdings.
Shareholders in Omaha are expected to examine these figures closely for insights into Buffett’s investment perspective before the question-and-answer session scheduled for Saturday.
The event will mark Buffett’s first commentary on the markets and economy following U.S. President Donald Trump’s recent announcement of new tariffs on imports, instigating a trade conflict. A social media post by Trump on April 4 suggested Buffett’s backing of his economic strategies, leading Berkshire to issue a statement declaring such reports as false.
In an interview with CBS News in March, Buffett characterized tariffs as “an act of war, to some degree,” equating them to a tax on goods, and noting, “The tooth fairy doesn’t pay them.”
Berkshire’s net profit changes predominantly mirror fluctuations in its $264 billion equity portfolio and other investments. The company reported first-quarter earnings of $4.6 billion, a decline from $12.7 billion the previous year.
Buffett emphasizes the importance of focusing on operating profit, which stood at $9.6 billion, down from $11.2 billion, mainly due to reduced insurance underwriting profits.
In 2025, Berkshire Hathaway shares have surged by 20%, reaching a record $809,808.50 for “A class” stock by Friday’s close. No share buybacks were authorized by Berkshire in the first quarter.
This report included additional input from Eric Platt.
