" Diversified - 44.97%
Berkshire Hathaway, Inc., Class A(a)(b) 1,028 796,699,990
Berkshire Hathaway, Inc., Class B(a)(b) 310,000 159,287,300
955,987,290"

STEW is down to 310,000 B shares down from 485,000 Bs a few years ago. The fund does write calls so my guess is they may be allowing Bs to get called away into this high brkb valuation, the past 2-3 years. They might be thinking of doing a small tender at say a 2-4 % discount to NAV. In most CEFs, an activist like SABA CAP can step in and force moves to reduce the discount. With STEW, the control family calls the shots, period. My dream that BRK would buy the entire fund at a 5 % discount to NAV is now a 30 to one shot, maybe greater. IF BRK did offer to buy the fund a few years ago, the family's decision not to sell out turned out brilliantly! Good luck to those who own it. My guess, the B holdings might be below 300,000 shares now.

Berkshire Hathaway FAQ

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