In today's newsletter: Berkshire vs. S&P, Brooks vs. Brooks, and get ready to make travel plans.
 | FRI, OCT 28, 2022 | | | |
Berkshire has big lead over S&P going into home stretch |
With two months remaining in the year, shares of Berkshire Hathaway are significantly outperforming the benchmark S&P 500 stock index. But it's not because Berkshire is having a stellar year. It's because it isn't doing as badly as the S&P. Berkshire's Class A shares are down a bit less than 1% year-to-date and the more widely held Class B shares have a small gain. By comparison, the S&P is down a little more than 18%. (With dividends included, the loss is cut to just over 17%.) |
After underperforming the S&P (with dividends) in 2019 and 2020. Berkshire scored a small victory last year with a gain of 29.6% to 28.7%. According to the latest Buffett letter to shareholders, Berkshire's per-share market value has a compounded annual gain of 20.1% from 1965 to 2021 vs. 10.5% for the S&P with dividends. |
Berkshire Hathaway's Brooks Sports, Inc. subsidiary (aka Brooks Running) has settled a legal fight with Brooks Brothers. Since 1980, the two companies have had a "coexistence" trademark agreement. One is best known for making running shoes, while the other has a reputation for preppy clothing. |
Brooks display showing Warren Buffett at the 2022 Berkshire shareholder meeting. (Yun Li | CNBC) |
But in 2020, Brooks Running went to court, accusing Brooks Brothers of breaking that agreement by asking for federal approval to use just "Brooks" for some of its products, including sports bags and athletic accessories. At the time, Brooks Brothers countered that Brooks Sports had dropped its "path" logo and was putting "Brooks" on its clothing, in violation of that same agreement. This week, a federal judge ordered the dismissal of the suit after the companies agreed to a settlement. Neither side responded to Reuters' requests for comment. |
Berkshire Hathaway says its 2023 annual meeting will be held on Saturday, May 6. A post on its website says more information is "coming soon." |
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BERKSHIRE'S TOP U.S. STOCK HOLDINGS - Oct. 28, 2022 |
Berkshire's top holdings of disclosed publicly-traded U.S. stocks, and BYD, by market value, based on today's closing prices. Holdings are as of June 30, 2022 as reported in Berkshire Hathaway's 13F filing on August 15, 2022, except for: - Apple, Bank of America, Chevron, and U.S. Bancorp, which also include shares held as of June 30, 2022 as disclosed in New England Asset Management's 13F filing on August 15, 2022
- BYD, which is as of September 1, 2022
- Occidental Petroleum, which is as of September 28, 2022
The full list of holdings and current market values is available from CNBC.com's Berkshire Hathaway Portfolio Tracker. |
Please send any questions or comments about the newsletter to me at alex.crippen@nbcuni.com. (Sorry, but we don't forward questions or comments to Buffett himself.) If you aren't already subscribed to this newsletter, you can sign up here. -- Alex Crippen, Editor, Warren Buffett Watch |
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