The much-awaited Berkshire Hathaway Annual Shareholders Meeting is scheduled for Saturday. Berkshire Hathaway Inc.’s first quarter earnings release and its quarterly report on Form 10-Q will be released on Saturday, May 6, 2023, at approximately 7:00 a.m. Central time.
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Prior to the Annual Shareholders Meeting, Warren Buffett, Berkshire’s Chairman and Chief Executive Officer, Charlie Munger, Berkshire’s Vice Chairman, Greg Abel, Vice Chairman Non-Insurance Operations and Ajit Jain, Vice Chairman Insurance Operations, will hold a question-and-answer session that will commence at approximately 9:15 a.m. Central time.
Ahead of the annual shareholder meeting, a fresh controversy is brewing up. National Legal and Policy Center (NLPC), the sponsor of a Berkshire Hathaway shareholder has proposed to separate the roles of Chairman and CEO. Berkshire Hathaway Shareholder NLPC is criticizing Warren Buffett and Bill Gates for politicized philanthropy.
NLPC had earlier filed a proxy memo with the Securities and Exchange Commission in support of their resolution, explaining why they believe the succession plan is inadequate and that the company should be less identified with Warren Buffett’s politics.
NLPC Chairman Peter Flaherty plans to make a statement at the Berkshire annual meeting on Saturday, May 6 in Omaha, Nebraska.
Warren Buffett has reportedly said that he is expecting a “much bigger crowd this year” at the Berkshire Hathaway annual shareholders meeting on May 6.
Due to the COVID pandemic, the events in 2020 and 2021 were broadcast on television and there was no live audience. Stockholders were once again permitted to attend last year, but they had to present proof of vaccination instead of the normal 40,000 or so attendees.
Despite managing $347 billion in invested assets, Warren Buffett’s portfolio consists largely of just 11 stocks, accounting for 89% of his total holdings. Tech-stock Apple (NASDAQ: AAPL) has been dubbed by the Oracle of Omaha as one of Berkshire Hathaway’s “four giants.” Apple is, by far, Berkshire Hathaway’s largest holding by market value, and has received $214 million in dividend income this quarter.
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Since the start of his career, Buffett has invested in concentrated value. Nevertheless, his approach has evolved over time to concentrate on buying high-calibre companies and trying to do it at a discount, but the value is still an important stage in his stock-picking process.
Data from Bespoke Investment Group shows that Berkshire has a history of outperforming the S&P 500 during recessions and doing particularly well during bear markets. Over the course of six recessions since 1980, Berkshire shares have outperformed the general market by a median of 4.41 percentage points.
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Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, retailing and services. The common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B
