Berkshire Hathaway stock trounced the market last year, but so far this year, the shares are lagging behind. A foundation established by one of the conglomerate’s executives just sold a substantial amount of shares.
Berkshire Hathaway Class B stock (ticker:
) edged up 3.3% in 2022, compared with a 19% drop in the
S&P 500 index
Year to date in 2023, the shares have gained 2.1%, while the index is up 6%. Thanks to its enormous holdings of Treasury debt, Berkshire Hathaway is getting a boost from rising interest rates.