Berkshire Hathaway Report, Shareholder Letter Released: What's Going On With The Stock?

Berkshire Hathaway Inc. BRK shares are trading slightly lower Monday after the company released its annual report and letter to shareholders. Here's a look at the details.

The Details:

Berkshire said approximately 79% of the aggregate fair value was concentrated in five companies: $28.4 billion in American Express, $174.3 billion in Apple, $34.8 billion in Bank of America, $23.6 billion in Coca-Cola and $18.8 billion in Chevron.

Berkshire disclosed that the Department of Justice notified its subsidiary, PacifiCorp, of its intent to sue over the company's alleged failure to cover $356 million in costs associated with the 2020 Slater wildfire, including fire suppression costs, natural resource damages and burned area emergency response costs. 

Berkshire Hathaway Energy said PacifiCorp is cooperating to resolve the claims, possibly through mediation or arbitration, and the $356 million could grow to reflect interest, penalties and additional environmental damages.

The company also stated in its annual report that the Justice Department has corresponded with PacifiCorp about recovering the estimated $625 million costs and damages to federal lands from the 2020 wildfires in southern Oregon.

"There remain only a handful of companies in this country capable of truly moving the needle at Berkshire, and they have been endlessly picked over by us and by others. Some we can value; some we can't. And, if we can, they have to be attractively priced. Outside the U.S., there are essentially no candidates that are meaningful options for capital deployment at Berkshire. All in all, we have no possibility of eye-popping performance," Warren Buffet said in Berkshire's annual shareholder letter. 

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BRK/B, BRK/A Price Action: According to Benzinga Pro, Berkshire Hathaway New Common Stock shares are down 0.75% at $414.25, and Berkshire Hathaway Common Stock shares are up 0.55% at $628,930.18 at the time of publication.

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