After reaching a record high of No. 2 on the Fortune 500 last year, Warren Buffett’s Berkshire Hathaway drops back below Exxon. The conglomerate holding company–whose many subsidiaries include Geico and the railroad Burlington Northern–struggled to grow through acquisitions in 2017, losing out on its bid for Oncor when it refused to raise its offer. Still, the Oracle of Omaha’s investment portfolio beat the S&P 500, as Buffett traded in underperforming stocks like IBM for winners including Apple, now Berkshire’s largest holding. And while the heavy hurricane season was tough on Berkshire’s reinsurance business, it more than made up for the losses by selling a world-record-setting policy to AIG for $10.2 billion.
Looking for leads, investment insights, or competitive intelligence?