Berkshire Hathaway reported $67.53B in Cost of Sales for its fiscal quarter ending in December of 2024. Data for Berkshire Hathaway | BRKB - Cost Of Sales including historical, tables and charts were last updated by Trading Economics this last July in 2025.

Of the approximate 492 billion U.S. dollars in financial investments held by Berkshire Hathaway's insurance division as of December 31, 2023, the vast majority were equity securities. At this time, the company held almost 346 billion U.S. dollars in equities. In total, across all divisions, Berkshire Hathaway's revenue from investments and derivatives amounted to nearly 75 billion U.S. dollars in 2023.

Berkshire Hathaway reported $94.92B in Sales Revenues for its fiscal quarter ending in December of 2024. Data for Berkshire Hathaway | BRKB - Sales Revenues including historical, tables and charts were last updated by Trading Economics this last June in 2025.

As of December 31, 2021, U.S. multinational conglomerate Berkshire Hathaway owned a significant portion of some of the largest companies in the world. Their shares in Apple - with a market value of over 160 billion U.S. dollars at this time - meant they owned 5.6 percent of the company, while their Bank of America holding translated to an ownership stake of almost 13 percent. Other household names in which Berkshire Hathaway holds a major stake include American Express, the Coca Cola Company, Chevron, General Motors, Mitsubishi, and Verizon.

Berkshire Hathaway current p/s ratio as of July 03, 2025 is 4227.18. Berkshire Hathaway average p/s ratio for 2024 was 3827.7, a 15.92% increase from 2023. Berkshire Hathaway average p/s ratio for 2023 was 3301.97, a 4.68% increase from 2022. Berkshire Hathaway average p/s ratio for 2022 was 3463.98, a 5.5% decline from 2021. P/s ratio can be defined as the price to sales or PS ratio is calculated by taking the latest closing price and dividing it by the most recent sales per share number. The PS ratio is an additional way to assess whether a stock is over or under valued and is used primarily in cases where earnings are negative and the PE ratio cannot be utilized.

Berkshire Hathaway reported $27.39B in Gross Profit on Sales for its fiscal quarter ending in December of 2024. Data for Berkshire Hathaway | BRKB - Gross Profit On Sales including historical, tables and charts were last updated by Trading Economics this last July in 2025.

Historical holdings data showing quarterly positions, market values, shares held, and portfolio percentages for BERKSHIRE HATHAWAY INCSERIES B NEW held by WINTRUST INVESTMENTS LLC from Q2 2019 to Q2 2022

Historical ownership data of BERKSHIRE HATHAWAY INCSERIES B NEW by WINTRUST INVESTMENTS LLC

Berkshire Hathaway net acquisitions/divestitures for the twelve months ending March 31, 2025 were $-1.100B, a 95.72% decline year-over-year. Berkshire Hathaway annual net acquisitions/divestitures for 2024 were $-0.396B, a 95.4% decline from 2023. Berkshire Hathaway annual net acquisitions/divestitures for 2023 were $-8.604B, a 18.78% decline from 2022. Berkshire Hathaway annual net acquisitions/divestitures for 2022 were $-10.594B, a 2223.25% increase from 2021.

Semper Augustus Investments Group - SAIG holdings, position sizes, and latest 13F filings. Top holdings: BERKSHIRE HATHAWAY INC DEL (BRK-B) – ~2055% of stock portfolio ($127M; 239,349 shares) BERKSHIRE HATHAWAY INC DEL (BRK-A) – ~1493% of stock portfolio ($93M; 116 shares) DOLLAR GEN CORP NEW (DG) – ~1286% of stock portfolio ($80M; 907,179 shares) KINROSS GOLD CORP (KGC) – ~916% of stock portfolio ($57M; 5M shares) DOLLAR TREE INC (DLTR) – ~597% of stock portfolio ($37M; 493,386 shares)

Berkshire Hathaway reported $16.6B in Operating Profit for its fiscal quarter ending in December of 2024. Data for Berkshire Hathaway | BRKB - Operating Profit including historical, tables and charts were last updated by Trading Economics this last July in 2025.

Cullen Value Fund - CVF holdings, position sizes, and latest 13F filings. Top holdings: BERKSHIRE HATHAWAY INCORPORATED DEL CLASS B NEW (BRK-B) – ~787% of stock portfolio ($52M; 97,442 shares) APPLE INCORPORATED (AAPL) – ~711% of stock portfolio ($47M; 210,960 shares) MICROSOFT CORPORATION (MSFT) – ~501% of stock portfolio ($33M; 87,925 shares) WALMART INCORPORATED (WMT) – ~433% of stock portfolio ($29M; 325,170 shares) JPMORGAN CHASE & COMPANY. (JPM) – ~378% of stock portfolio ($25M; 101,694 shares)

Jim Cullen - Cullen Value Fund holdings, position sizes, and latest 13F filings. Top holdings: BERKSHIRE HATHAWAY INCORPORATED DEL CLASS B NEW (BRK-B) – ~668% of stock portfolio ($47M; 97,409 shares) MICROSOFT CORPORATION (MSFT) – ~622% of stock portfolio ($44M; 88,611 shares) APPLE INCORPORATED (AAPL) – ~613% of stock portfolio ($43M; 211,592 shares) WALMART INCORPORATED (WMT) – ~452% of stock portfolio ($32M; 327,474 shares) JPMORGAN CHASE & COMPANY. (JPM) – ~423% of stock portfolio ($30M; 103,470 shares)

Berkshire Hathaway stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

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While the value of most of Berkshire Hathaway's revenue sources have remained relatively consistent over the last five years, their income from investments (including derivatives) has fluctuated greatly. From a loss of 22.5 billion U.S. dollars in 2018, this turned around to a gain of 72.6 billion U.S. dollars one year later. In 2020 - despite the economic effects of the global coronavirus pandemic - the company was able to generate over 40 billion U.S. dollars in investment gains. Berkshire Hathaway's investment gains in 2024 were to almost 53 billion U.S. dollars.

Aquamarine Zurich AG - AZA holdings, position sizes, and latest 13F filings. Top holdings: BERKSHIRE HATHAWAY INC DEL (BRK-B) – ~25.5% of stock portfolio ($75K; 140,600 shares) AMERICAN EXPRESS CO (AXP) – ~19.2% of stock portfolio ($57K; 210,000 shares) MASTERCARD INCORPORATED (MA) – ~12.3% of stock portfolio ($36K; 65,750 shares) BANK AMERICA CORP (BAC) – ~10.9% of stock portfolio ($32K; 767,845 shares) BERKSHIRE HATHAWAY INC DEL (BRK-A) – ~8.2% of stock portfolio ($24K; 30 shares)

Aquamarine Capital - AC holdings, position sizes, and latest 13F filings. Top holdings: BERKSHIRE HATHAWAY INC DEL (BRK-B) – ~2255% of stock portfolio ($38K; 140,600 shares) AMERICAN EXPRESS CO (AXP) – ~1710% of stock portfolio ($29K; 210,000 shares) BK OF AMERICA CORP (BAC) – ~1404% of stock portfolio ($24K; 767,845 shares) MASTERCARD INCORPORATED (MA) – ~1219% of stock portfolio ($21K; 65,750 shares) BERKSHIRE HATHAWAY INC DEL (BRK-A) – ~721% of stock portfolio ($12K; 30 shares)

The NYSE U.S. 100 Index tracks the largest U.S. companies traded on the New York Stock Exchange. This statistic shows the leading 20 companies on the NYSE U.S. 100 Index by market capitalization. As of January 28, 2024 the multinational conglomerate company ****************** ranked as the first, with a market capitalization of over *** billion euros. This was followed by ********* and ***************, with market capitalizations amounting to *** billion and *** billion euros respectively. NYSE U.S. 100 Index vs. Nasdaq 100 Index The New York Stock Exchange and the Nasdaq are the largest two stock exchanges in the world, but they differ in the kinds of companies they list. The NYSE is known to list stable and long-lasting firms, commonly referred to as “blue-chip” companies. In contrast, the Nasdaq is renowned for listing the world’s biggest companies, mainly from the tech industry. Similar to the NYSE U.S. 100 Index, the Nasdaq 100 Index tracks the 100 largest non-financial companies listed on the Nasdaq exchange, including both U.S. and non-U.S. companies. The leader of the NYSE U.S. 100 index: Berkshire Hathaway Berkshire Hathaway, the leader of the NYSE U.S. 100 Index, was also among the world's largest companies by revenue in 2023. The company is a multinational conglomerate and holding company with insurance as its core business and interests in other sectors such as railroad, utilities and energy, finance. In fact, Berkshire was the world's biggest insurance company by revenue in 2023. As a holding company, it has significant stakes in some of the world’s largest companies, including Apple, Bank of America and Coca-Cola. With its diverse background in various businesses and industries, Berkshire Hathaway had a total revenue of *** billion U.S. dollars in 2023.

Why is the stock down here?

• EV Adoption Concerns
  • After a period of accelerating EV penetration through 2022, the adoption curve has plateaued
  • Concerns around the consumer’s appetite for BEVs and hybrids due to the EV price premium when compared to ICE vehicle alternatives
  • Election of President Trump and the end of the $7,500 EV rebate, which will potentially lead to a drop off in EV demand as seen in other countries that pulled EV subsidies
• Mix shift to local OEMs away from Multinational OEMs in the Chinese market
  • Chinese nationalism and advancement of Chinese EVs at lower prices has driven Chinese consumer demand to favor local Chinese OEMs over foreign multinational (FMN) OEMs. This headwind is not unique to APTV
  • Currently, APTV’s customer mix in China is ~55% local OEMs and ~45% FMN (FMN mix was closer to 80% 3-4 years ago). This is slightly under-indexed vs the ~65% market share local OEMs have in China
  • From a bookings standpoint for APTV, 60% - 70% of the backlog is with local Chinese OEMs, which means the local Chinese OEM mix will continue to improve going forwards. APTV is actively working with five top Chinese OEMs who are looking to set up production outside of China
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• Customer mix headwinds in the North American market
  • Affordability issues (driven by inflation and higher rates) have pushed consumers to look for cheaper cars, which are primarily produced by Japanese OEMs (J3). APTV has more CPV with the D3 American OEMs vs the J3
  • This headwind was exacerbated by the UAW strikes in 4Q23, which further reduced D3 production
  • Over the years, the D3 has shifted their production to SUVs and CUVs and have discontinued the production of smaller sedans (more affordable)
• Production cuts at 4 of the top 5 APTV OEM customers
  • Stellantis and Ford have been dealing with destocking and high inventory in the North America market
  • Tesla production will be down y-o-y for the first time
  • Volkswagen has seen weakness across Europe which pushed them to consider shutting down three factories in Germany
  • Exposure to these OEMs have been a big drag on APTV’s Growth over Market (GOM) in 2024

Thesis

• At this point, expectations for APTV are very low (trading at 9x fwd PE and 7.2x fwd EBITDA), and we think a lot of the bad news is already baked into the stock
• EV adoption should continue to increase over time and benefit APTV, which has 3x CPV on BEV and 2x on PHEVs
  • The price gap between EV and ICE will continue to narrow and EVs will become more affordable for the consumer
    • In 2022, the price gap between the average EV and average ICE was ~$17k. This gap shrunk to ~$2k as of January 2024 according to COX automotive
      • This price gap is on an overall basis. On a like for like basis, when we compare a handful of EV models with their ICE counterparts, we think the average price gap is ~$7k - $8k, which was largely covered by the EV credit. The gap is wider on lower end models and smaller with more premium models
      • Price tends to be the #1 hurdle for the average consumer to get past when considering an EV over an ICE vehicle

    • Most industry 3rd party research believes that EVs will reach price parity with ICE vehicles some time in the back half of this decade. This will be driven by lower battery costs for an EV which makes up ~40% of the total cost. Battery costs have declined significantly since 2008 and currently cost ~$115 per kwh. Costs need to come down to $100 per kwh for EVs to reach price parity. This next leg down will be driven by lower commodity costs and higher nickel content in battery chemistry
    • Several <$35K EV models are set to launch over the next 2 years
  • Consumers will demand EVs long-term, given they are (1) a higher quality/better product and (2) cheaper to operate and maintain
    • A survey of 3,897 electric car drivers has shown that 85% would never go back to petrol or diesel. The 15% of those that would go back, cite charging infrastructure as the main reason
    • Maintenance costs for EVs are much cheaper because they don’t require annual oil changes, spark plugs, engine air filter, or power steering fluid
    • The EV savings grow when you factor in the gas prices. EVs save an extra ~$1,300 annually to “fill the tank”. This means there’s a 6.7 year pay back period when you purchase an EV without the tax credit
• US and Europe have put regulations and incentives in place to support the growth of EVs. OEMs have largely bought into this and made substantial investments to hit their long-term EV targets
  • New US EPA regulation approved March 2024 are a continuation of prior emissions guidelines and extends through the 2027 – 2032 model periods
    • While slightly more relaxed vs the initial proposal, the approved emissions rules contemplate scenarios where EV & PHEV penetration rates reach 69% - 72% by 2032
    • The mix between BEV and PHEV shifts in either way between the scenarios, but generally this should be viewed positively for EV adoption
  • Euro 7, approved Sept 2023 and effective July 2025, will keep Euro 6 emission regulations, particle/matter, as well as battery health
    • In 2022, the EU passed a law banning the sale of new ICE vehicles by 2035; the UK recently pushed out their target to be in-line with the EU
• Trump’s elimination of the $7,500 EV subsidy and “EV mandate” may not stop OEMs from continuing to advance EV sales
  • EV adoption is more than just consumer preferences, and is being driven by critical stakeholders including OEMs and national security concerns
    • OEMs view EVs as an existential, must-have product that is necessary to secure their competitiveness long-term. The industry is at a point where a reversal of emissions rules would be detrimental to the auto industry. An OEMs’ planning cycle is much longer compared to an election cycle and it is very difficult to flip flop. When Trump reversed Obama’s car emission standards (SAFE Vehicles Rule in 2020), the OEMs themselves asked for him to not reverse them so dramatically so that they could stay competitive
    • EVs are becoming computers on wheels and so their production within the US is viewed as a matter of national security. As a result, the US government is incentivized to keep US EV OEMs and their adoption competitive internationally
  • The state of California sets its own emissions rules, which are more stringent vs the EPA’s. 13 other states follow California’s lead and major OEMs have also agreed to follow California’s standards. April 2024, the U.S. Court of Appeals for the District of Columbia Circuit blocked an attempt by Ohio, Alabama, Texas and other Republican-led states to revoke California’s authority to set standards that are stricter than rules set by the federal government. Several OEMs have sided with California over this decision and recognize the state’s authority in this matter under the Clean Air Act. As a business, you can’t increase and decrease investments based on elections results, you need to invest for the future which is zero-emissions. Therefore, even if Trump reverses EPA emissions rules, California’s own standard will remain and OEMs will continue to invest in EVs across the US to scale and reach profitability
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• Today’s vehicles are increasingly adding technological content as the industry works towards full autonomous driving. APTV’s active safety business is well positioned to take advantage of this megatrend
  • The more basic systems (level 0 and level 1) have ~$300 of content while the more advanced systems (L2+) have ~$1,000. L3 systems see a big jump up to ~$3,000 driven by the need for LIDAR
    • APTV is focused on the development of L2, L2+ and L3 technologies
    • Currently, the market is just starting to commercialize L3 technology with Mercedes as the first OEM allowed to sell their L3 vehicle at retail
    • Google’s Waymo is considered level 4, but this technology is reserved for robo-taxi commercial applications. The amount of LIDAR cameras required for L4 makes the cost too expensive for passenger car consumers (Waymo pays ~$15k - $20k for the hardware they use)
  • The growth in this segment is driven by higher adoption of autonomous technology and higher content from step up in more advanced systems
    • Today, only LSD-MSD% of vehicles have L2 or greater ADAS capabilities. APTV expect this % to