BRK.B

Berkshire Hathaway Inc. Class B shares provide the same proportional economic ownership as Class A shares but at a fraction of the price and with reduced voting rights. Class B shares were created in 1996 to make Berkshire ownership more accessible to smaller investors, with each Class B share representing 1/1500th of a Class A share economically and 1/10000th of the voting power. The underlying company is Warren Buffett's legendary conglomerate owning insurance, utilities, railroads, manufacturing, retail, and service businesses, plus major public company equity holdings. Berkshire's success is built on value investing, acquiring quality businesses at fair prices, decentralized management, and long-term capital compounding. Class B shares trade at roughly $400-500 per share compared to over $600,000 for Class A shares, making them accessible to average investors seeking Berkshire exposure. Both share classes benefit from the same underlying businesses, earnings, and book value growth, with no dividends paid. The company faces succession concerns given Warren Buffett's age, though Greg Abel has been designated as his successor as CEO. Berkshire continues to generate significant cash flows, maintain massive liquidity, and seek acquisitions and investments.