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The week's question
In March 2025, in the thread "Re: OT, out", Umm asked the members: "Do you think it is because America is made up of magical soil that makes businesses based in America magically profitable?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: rnam ✭☼  😊 😞
Number: of 22354 
Subject: Increase in A Shares
Date: 11/05/25 10:14 AM
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Gary Gambino has posted an excellent review of BRK’s Q3 earnings. He notes an unusually rise in A shares outstanding.

There were no buybacks in the quarter, yet the front page of the 10-Q shows a higher count of A shares and a correspondingly lower count of B shares on 10/20/2025 compared to 7/21/2025. This happened even though conversion of A shares to B shares would be expected to make the counts of the two share classes move in opposite directions.

The company had 3817 more A shares outstanding and 3817 * 1500 = 5,725,500 fewer B shares outstanding on 10/20 than on 7/21. Since A shares are convertible to B shares but not the other way around, it is unclear how A shares could have increased over that period.


Any guesses why this happened? Could it just be a correction to accounting error in the previous period?

seekingalpha.com - Berkshire hathaway stock deep dive into q3 results exercise caution reiterate hold
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This community has written 21,861 posts about Berkshire Hathaway. The article-length ones it recommended most:
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Summary of 2Q 2026 · 55 recs · 2026
3Q Summary · 53 recs · 2024
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