Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) is hard to describe. On a very basic level, it partially or wholly owns a vast and varied collection of businesses (or the stock of those businesses). But that description misses a lot of the complexities of how it operates.

Shares of Warren Buffett's Berkshire Hathaway ended the day at another record. The company's Class B shares are up nearly 17% this year, compared with a 3.7% decline in the S&P 500. It was their fifth consecutive record close,

Berkshire Hathaway just hit a new all-time high while Wall Street is drowning in fear. The company led by Warren is now outperforming almost every major index in 2025.