Warren Buffett and Charlie Munger at press conference during the Berkshire Hathaway Shareholders Meeting in Omaha, Nebraska, April 30, 2022.<\/p>\n
CNBC<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Berkshire Hathaway<\/a><\/span><\/span><\/span>‘s Warren Buffett said his sprawling conglomerate may only slightly outperform the average American company due to its sheer size and the lack of buying opportunities that could make an impact.<\/p>\n The Omaha-based giant \u2014 owner of everything from BNSF Railway to Dairy Queen and 6% of Apple \u2014 has by far the largest net worth recorded by any American business and now reached 6% of that of the total S&P 500 companies, Buffett said in his annual letter released Saturday.<\/p>\n “There remain only a handful of companies in this country capable of truly moving the needle at Berkshire, and they have been endlessly picked over by us and by others,” Buffett wrote. “Some we can value; some we can’t. And, if we can, they have to be attractively priced.”<\/p>\n The last sizable deal Berkshire did was buying insurer and conglomerate Alleghany for $11.6 billion\u00a0in 2022<\/a>. The “Oracle of Omaha” has also acquired a 28% stake in energy giant Occidental Petroleum<\/a><\/span><\/span><\/span>, while ruling out buying the whole company. These moves, while significant, didn’t live up to the expectation of an “elephant-sized” target that Buffett has been wanting to make for years.<\/p>\n