Warren Buffett’s Berkshire Hathaway (BRK.B) (BRK.A) continued its selling spree in Q3, unloading $6.1 billion worth of stocks. The move marks the 12th straight quarter of net stock sales, signaling a cautious stance amid market uncertainty. Meanwhile, Berkshire’s cash and equivalents reached a record high at the end of September.
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For context, legendary investor Buffett’s Berkshire Hathaway owns a diverse portfolio of businesses and investments across insurance, energy, manufacturing, and major holdings in public companies. The Q3 results come as Buffett enters his final months as CEO after more than six decades at the company. His longtime deputy, Greg Abel, has been named as his successor.
Warren Buffett’s Big Sell-Off Continues
Berkshire Hathaway sold $6.1 billion more in stocks than it bought in the third quarter. In particular, the filings revealed that the company sold $12.5 billion worth of stocks and bought $6.4 billion during the three months ended in September, marking more selling than buying.
This implies that Buffett has found more value in selling than buying equities, as stock prices have surged sharply across several sectors. Over the past three years, Berkshire has offloaded nearly $184 billion worth of shares.
After several quiet years with no major takeovers, Berkshire Hathaway made headlines last month by striking a $9.7 billion all-cash deal to acquire Occidental Petroleum’s (OXY) petrochemicals division. The move represents the first major acquisition under Abel’s direction and could signal the start of a new era for the investing giant.
Berkshire Hathaway’s Operating Earnings Surge
In the third quarter, Berkshire Hathaway’s operating profit surged 34% year over year to $13.5 billion. The growth was mainly driven by its insurance, railroad, and energy units. The standout was insurance underwriting income, which soared over 200% to $2.37 billion. Despite the solid performance, Buffett held off on share buybacks for the first nine months of 2025.
Notably, Berkshire’s cash pile hit a record $381.6 billion, surpassing the prior high of $347.7 billion set earlier this year. The record cash pile suggests that Buffett may be waiting for a better time to invest.
Is BRK.B Stock a Buy?
Berkshire Hathaway’s Class B stock currently has a Moderate Buy rating based on one Buy and one Hold issued in the past three months. The average BRK.B price target of $536 implies 12.24% upside from current levels.
