SCHEDULE: Warren Buffett Reduces Berkshire Hathaway Stake Through Major Philanthropic Donations

Warren Buffett has significantly reduced his beneficial ownership in Berkshire Hathaway Inc. through the conversion of Class A shares to Class B shares and subsequent substantial donations to several foundations, fulfilling his lifetime philanthropic commitments.

Summary

• Warren E. Buffett, the reporting person, maintains sole voting and dispositive power over 198,117 shares of Berkshire Hathaway Class A Common Stock and 1,144 shares of Class B Common Stock.
• His ownership represents approximately 37% of outstanding Class A shares, less than 0.01% of outstanding Class B shares, 29.7% of the aggregate voting power of both classes, and 13.8% of the economic interest of both classes.
• On June 27, 2025, Mr. Buffett converted 8,239 shares of Class A Common Stock into 12,358,500 shares of Class B Common Stock.
• On June 30, 2025, he donated a total of 12,358,501 shares of Class B Common Stock to various foundations as part of his lifetime commitment:
• 9,433,839 shares were donated to the Gates Foundation Trust.
• 943,384 shares were donated to the Susan Thompson Buffett Foundation.
• 660,366 shares were donated to each of the Sherwood Foundation, the Howard G. Buffett Foundation, and the NoVo Foundation.

Sentiment

Score: 7

Explanation: The filing details substantial philanthropic donations by Warren Buffett, fulfilling his lifetime commitments, which is a positive aspect. However, it also reflects a reduction in his direct beneficial ownership and economic interest in Berkshire Hathaway. Given these are expected actions, the overall sentiment is moderately positive.

Positives

• Significant philanthropic contributions totaling 12,358,501 Class B shares demonstrate Warren Buffett's continued commitment to charitable causes.
• The donations align with Mr. Buffett's publicly known lifetime philanthropic commitments, indicating consistency in his long-term plans.

Negatives

• The reduction in Warren Buffett's direct beneficial ownership and economic interest in Berkshire Hathaway Inc. through these donations.

Future Outlook

The filing does not provide forward-looking statements or guidance regarding Berkshire Hathaway's future financial performance or strategic direction. It primarily reports on past ownership changes and philanthropic activities.

Management Comments

• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct."

Industry Context

This filing reflects a personal ownership change and philanthropic activity by a prominent investor, Warren Buffett, rather than a broader industry trend. While large philanthropic donations by high-net-worth individuals are common, the scale and consistency of Buffett's commitments are notable within the investment community.

Related Party Transactions

• The donations to the Gates Foundation Trust, Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation can be considered related party transactions given Warren Buffett's involvement and commitments to these entities.

Stakeholder Impact

• Shareholders: A reduction in Warren Buffett's direct beneficial ownership and economic interest, though expected due to his philanthropic commitments.
• Foundations (Recipients): Significant financial benefit from the substantial Class B share donations, enabling their charitable missions.
• Employees/Customers/Suppliers/Creditors: No direct impact mentioned or implied by this ownership filing.

Key Dates

Keywords

Berkshire Hathaway, Warren Buffett, Schedule 13D, Beneficial Ownership, Class A Common Stock, Class B Common Stock, Philanthropy, Gates Foundation Trust, Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, NoVo Foundation, Stock Conversion, Donation