SCHEDULE: Buffett Converts, Donates Berkshire Hathaway Shares

Warren Buffett converted Class A shares to Class B and donated them to several foundations, reducing his direct beneficial ownership.

Summary

• Warren Buffett converted 1,800 shares of Berkshire Hathaway Class A Common Stock into 2,700,000 shares of Class B Common Stock on November 10, 2025.
• Immediately following the conversion, he donated all 2,700,000 newly converted Class B shares to four foundations.
• The donations included 1,500,000 Class B shares to the Susan Thompson Buffett Foundation and 400,000 Class B shares each to the Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation.
• After these transactions, Mr. Buffett beneficially owns 196,317 shares of Class A Common Stock, representing approximately 37.7% of the outstanding Class A shares.
• He also beneficially owns 1,114 shares of Class B Common Stock, which represents less than 0.01% of the outstanding Class B shares.
• His aggregate voting power across both classes of shares is 29.8%, and his economic interest is 13.6%.

Sentiment

Score: 6

Explanation: The filing reports a significant philanthropic donation by Warren Buffett, which is generally viewed positively. However, it also notes a reduction in his direct beneficial ownership and voting power, which could be seen as a minor negative by some investors concerned about his direct control.

Positives

• Significant philanthropic donations were made to multiple foundations, supporting their charitable missions.

Negatives

• A reduction in Warren Buffett's direct beneficial ownership and voting power in Berkshire Hathaway.

Future Outlook

No specific forward-looking statements or guidance were provided in this filing.

Industry Context

This filing primarily concerns a change in beneficial ownership and philanthropic activity by a key individual, rather than broader industry trends. It reflects ongoing philanthropic commitments by Warren Buffett, a well-known aspect of his personal and corporate philosophy.

Stakeholder Impact

• Shareholders: A slight reduction in Warren Buffett's direct voting power and economic interest, potentially signaling a gradual shift in control over time, though his influence remains substantial.
• Foundations: Significant financial benefit to the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation, enabling their philanthropic missions.

Key Dates

Recommendation

This filing primarily details a philanthropic donation by Warren Buffett, involving a conversion of Class A to Class B shares and subsequent gifting. While it slightly reduces his direct beneficial ownership and voting power, it does not indicate any fundamental change in Berkshire Hathaway's operational performance, strategic direction, or financial health. Investors typically view such planned philanthropic activities as part of Mr. Buffett's long-term estate planning and commitment, rather than a signal for immediate investment action. The core investment thesis for Berkshire Hathaway remains unchanged based on this filing.

Keywords

Berkshire Hathaway, Warren Buffett, Schedule 13D, Class A Common Stock, Class B Common Stock, Share Conversion, Philanthropy, Stock Donation, Beneficial Ownership, Corporate Governance