Berkshire Has Gained 16% in About 5 Weeks
Berkshire hit a record high with no press release, no filing, and no executive comment to explain it. Three days before earnings, one report could show whether buybacks and cash moves are driving the rally or whether it has outrun…
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Class B shares of Berkshire Hathaway (NYSE:BRK-B | BRK-B Price Prediction) closed at a record $579.09 on November 4, 2026. The shares rose $22.02, or 3.95%, which was the biggest one-day gain since a 5.84% jump on April 9, 2025. The close also exceeded the prior record of $557.07, set on November 3.
Class A shares rose 3.93% to $869,301. That left them near their 52-week high of $870,492.
Berkshire issued no press release between October 6 and November 4, and no filing or executive statement explains the jump. That leaves a record price with no stated cause, three days before a quarterly report that will test it.
How Five Weeks Produced a 16% Gain
From its September 30 close of $497.95, Class B has gained 16.29% over 25 sessions, based on price only. September 30 was the lowest close since at least late August, so the start date makes the figure look better than it would from most other days.
Class B rose in 20 of those sessions, including the last five in a row.
Berkshire Rose While Chip Stocks Slid
Over the same period, the S&P 500 went from 7,651.54 to 7,688.62. The SPDR S&P 500 ETF (NYSEARCA:SPY) went from $762.63 to $766.81, so both were nearly flat.
The Nasdaq Composite fell about 4.2%. NVIDIA (NASDAQ:NVDA) fell about 12.4% and Micron (NASDAQ:MU) about 25.3%. No disclosure links Berkshire’s gain to those declines.
For 2026 so far, Class B is up 15.21% from its 2025 close of $502.65. That places it ahead of SPY’s gain of about 12.4%.
Investors Have Accepted the Abel Era
Greg Abel became CEO on January 1, 2026. Warren Buffett became chairman emeritus, and Howard G. Buffett was elected chairman on September 18, 2026.
Class B’s highest close before the transfer was $539.80, on May 2, 2025, the last session before the transfer was announced. The stock fell 5.12% on May 5. It did not close above that high until October 20, 2026, when it ended at $539.82, so the market took well over a year to accept the change.
Berkshire Is Finally Putting Cash to Work
Second-quarter operating earnings rose to $12.983 billion from $11.160 billion a year earlier. Berkshire bought back about $4.5 billion of its own stock in the quarter and about $4.8 billion over the first half.
Cash fell to a reported $364.7 billion at the end of June, down from a record $380.2 billion at the end of March. Berkshire bought almost $20 billion more stock than it sold in the quarter. That ended 14 straight quarters as a net seller.
Form 4 filings report completed trades. They show Berkshire bought 924,281 shares of Sirius XM (NASDAQ:SIRI) on October 30, November 2, and November 3, a small purchase for a company of Berkshire’s size.
What Berkshire’s Third-Quarter Report Could Reveal
The start date makes the run look bigger, but the business improved over the same period: operating earnings grew, Berkshire started putting its cash to work, and the market has accepted the new leadership.
Its P/E is about 12x. The price still assumes only modest growth.
SPY tracks the whole market, but it was nearly flat over these five weeks and is behind Berkshire for 2026. Berkshire’s earnings come mainly from insurance, railroads and energy, so the swings in chip stocks affect it less.
The first test comes when Berkshire posts third-quarter results and its Form 10-Q on Saturday, November 7, 2026, at about 7:00 a.m. Central time. Berkshire buys back stock only when management believes shares trade below intrinsic value, meaning below what the business is actually worth. If repurchases continued while the price climbed, that would support the rally.
The case for the rally weakens if the report shows buybacks stopped, cash built up again, or operating earnings slipped. It also gets weaker if Class B closes back below $539.80.
Contact [email protected] for any questions or corrections.
Omor Ibne Ehsan is a writer at 24/7 Wall St. He is a self-taught investor with a focus on growth, cyclical, and dividend equities that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as penny stocks.
