Overview
- Berkshire was a net seller for 12 consecutive quarters and unloaded more than $24 billion of equities through the first nine months of 2025.
- The company’s cash balance reached a record $354 billion at the end of the third quarter, reflecting sustained caution.
- Recent buying totaled roughly $13.4–$14 billion, including 17.8 million shares of Alphabet.
- Berkshire agreed to acquire OxyChem from Occidental Petroleum, with the deal described as set to close this month.
- Buffett points to the Buffett Indicator near 225% and warns investors are “playing with fire” given stretched U.S. equity valuations.