Warren Buffett's Annual Shareholder Letter Arrives Saturday: Could Investors Get Updates On Apple, Succession, New Investments?

Warren Buffett will unveil the newest Berkshire Hathaway Inc BRKBRK shareholder letter Saturday, after once again beating the S&P 500 in 2024.

Here’s a look at what could be included in the legendary investor’s newest shareholder letter.

What Happened: Each year, Buffett releases a shareholder letter that discusses the market outlook, the performance of Berkshire Hathaway segments and the public stocks it invests in.

Last year’s letter was one of the more meaningful and memorable ones. Buffett penned a detailed tribute to the late Charlie Munger, who Buffett called “the architect of Berkshire Hathaway.”

On Saturday, there could be moments of tribute to Munger once again. The letter will likely revolve more around current Berkshire Hathaway investments and operating segments.

“I am charged with writing a letter every year that will be useful to this diverse and ever-changing group of owners, many of whom wish to learn more about their investment,” Buffett said in last year’s letter.

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What Could Be In The 2024 Letter: There are hundreds of items that Buffett could cover in the 2024 annual letter.

One area covered in recent years is handpicking several stocks that are said to leave him feeling comfortable among the non-controlled stock investments. In 2022, he picked Coca-Cola and American Express. In 2023, Occidental Petroleum and the basket of Japanese stocks made the cut.

The question is: Which companies will Buffett pick for 2024? After selling Apple Inc AAPL shares several times in recent quarters, Buffett held tight in the fourth quarter. Buffett often praises the technology giant — a staple in the Berkshire Hathaway portfolio in recent years. Is there enough to call the company one of the most comfortable investments going forward?

If Apple doesn’t make the cut, Buffett could still profile the company and its future growth. The stock still makes up a large weighting in the company’s investment portfolio.

Buffett could profile newer investments in the shareholder letter. In recent quarters, Buffett’s company has added to its stakes in Domino’s Pizza DPZ and Pool Corporation POOL. Berkshire Hathaway also took an initial 5,624,324 share position in Constellation Brands STZ in the fourth quarter.

Buffett likely won’t comment on whether it was he who made the investment decisions or an advisor. He also won’t likely indicate whether the company is done buying shares. Yet, investors would love more color on the reasoning behind the purchases. Buffett could share more on if the stocks were added as defensive names due to macroeconomic concerns or if there is growth or undervaluation that caught the firm’s attention.

Succession is another topic that has been brought up in recent years. Last year’s shareholder letter cited Greg Abel as the handpicked leader of the company after Buffett. Considering Buffett is 94 years old, investors are likely looking for more commentary on how and when the succession could take place, or how much control Abel currently has over the company.

The shareholder letter will also dive into the companies that are owned by Berkshire Hathaway, which could provide a good outlook on how sectors like insurance, railroads and consumer products are doing. Duracell, a Berkshire company, made its first ever Super Bowl commercial earlier this month. Buffett’s writing about that decision could provide a great marketing lesson for the value of Super Bowl ads.

While Buffett doesn’t get too political, commentary on the new White House administration, international markets, tariffs and rate cuts could all be items closely watched by investors.

Price Action: Berkshire Hathaway Class B shares trade at $479.82 versus a 52-week trading range of $395.66 to $491.67. The stock is up 6.3% year-to-date in 2025 and up 17.2% over the last year.

The SPDR S&P 500 ETF Trust SPY, which tracks the S&P 500 Index, trades at $600.27. The ETF is up 2.7% year-to-date in 2025 and up 20.7% over the last year.

Berkshire is currently outperforming the SPY in 2025, but lagging on a 52-week basis.

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