Berkshire shares closed October 16, 2026, at their highest levels since Warren Buffett announced his planned departure as chief executive in May 2025. Both share classes finished about 1.4% below their record closing prices, extending a recovery that has coincided with fresh investment activity under CEO Greg Abel.
Key Takeaways
- Both Berkshire share classes gained more than 1% on October 16 and finished close to their record highs.
- Class B shares narrowed their year-to-date performance gap with the S&P 500 to 6 percentage points.
- Bending Spoons announced a further $330 million Berkshire investment, subject to customary closing conditions.
Table of Contents
- Berkshire shares approach their pre-succession highs
- Buybacks and investments put cash to work
- Bending Spoons deal expands an unusual technology holding
- Conclusion
Berkshire shares approach their pre-succession highs
Class A shares ended Friday at $798,000, compared with their all-time closing high of $809,350. Class B shares closed at $532.02, against a record of $539.80. Both records were set immediately before Buffett's May 2025 succession announcement.
The shares subsequently lost more than 14% over roughly three months before reaching a post-announcement low in August 2025. Their recovery has been uneven: a decline on October 15 ended a 10-session winning streak that had added about 5%, before Friday's rebound.
The recovery has also reduced Berkshire's relative underperformance. Class B shares trailed the S&P 500 by 6 percentage points for 2026 through October 16, compared with a 17.5-percentage-point deficit on June 1. Near-record prices therefore did not mean Berkshire had caught up with the benchmark.
| Item | Details |
|---|---|
| New shares to be issued | 10 million ordinary shares |
| Private-placement price | $33 per share |
| Stated resulting ownership | 4%, as announced by Bending Spoons |
| Transaction status | Subject to customary closing conditions |
Buybacks and investments put cash to work
Berkshire repurchased $4.5 billion of its own shares in the second quarter of 2026. Its reported cash balance at June 30 was $365.5 billion, down 8% from March 31, leaving substantial resources available even after the buybacks.
The latest investment announcement adds another example of capital deployment under Abel. It does not, by itself, establish why Berkshire's shares rose: the stock-price recovery and individual investment decisions are separate developments.
Bending Spoons deal expands an unusual technology holding
In its October 14 investment announcement, Bending Spoons said Berkshire would invest a further $330 million through a private placement, following a $600 million investment at its July 2026 initial public offering. Together, the two commitments total $930 million.
The Italian technology company acquires digital businesses and restructures their operations, reinvesting earnings in further acquisitions. Its businesses include AOL, Evernote and Vimeo. Bending Spoons said the new funding would enhance its financial flexibility and ability to pursue acquisitions.
Bending Spoons shares closed October 16 at $47.07, about 42.6% above the placement price. That comparison represents a market-price premium to the agreed subscription price, not a realized Berkshire profit; the announcement said closing remained subject to customary conditions.
The announcement did not specify how many shares Berkshire acquired at the IPO or identify who at Berkshire made the investment decision. The company's stated 4% ownership figure is therefore more reliable than estimates built on an assumed IPO purchase price.
Conclusion
Berkshire's recovery has brought both share classes close to records, while leaving a year-to-date gap with the S&P 500. Its next portfolio disclosure, expected in November for holdings as of September 30, may clarify the July Bending Spoons position but would not capture the newly announced October placement.
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