Berkshire has built a record $325 billion cash heap as a historically expensive stock market presents few obvious value buys.

Not only are investors looking to dig into Berkshire's financials, they are also keenly awaiting Buffett's annual letter to shareholders that may offer commentary on investments and the economy.

The Omaha, Nebraska-based conglomerate scooped up 763,000 shares of the Houston-based oil and gas producer on Friday for $35.7 million, according to a filing.

Berkshire entered a new holding in Constellation Brands during the fourth quarter of 2024. Buffett's firm also trimmed its position in Bank of America.

Investors are awaiting Berkshire Hathaway Chairman Warren Buffett’s annual investor letter, in which he typically expounds on Berkshire’s performance along with anecdotes and vignettes about investing and life.

There’s a good chance that Berkshire Hathaway’s stock will lag the S&P 500 in the coming years. This is a matter of simple probabilities, and not a criticism of Berkshire Hathaway Chairman and Chief Executive Warren Buffett or his designated successors.