Categories
BNSF

Rail Investment Hits Six-Year High as BNSF Customers Pour in $5.3 Billion

(BRK.A), (BRK.B)

Customers of BNSF Railway invested more than $5.3 billion in 2025, completing 117 rail-served projects—the highest total in six years. Spanning industrial, agricultural, and consumer sectors, these developments created over 1,200 jobs while expanding production capacity, strengthening supply chains, and supporting long-term economic growth. Major completed projects included initiatives by U.S. Steel and South Dakota Soybean Processors.

BNSF also expanded its network by adding a new Certified Site near Mobile, Alabama—the first served by a Shortline Select™ partner, Genesee & Wyoming’s Alabama & Gulf Coast Railway. The site enhances access to Gulf Coast and global markets, reflecting BNSF’s focus on growth through partnerships and infrastructure readiness.

According to Executive Vice President and Chief Marketing Officer Tom Williams, the record number of projects highlights strong customer confidence in rail-supported development. He emphasized that expanding rail-ready sites helps businesses scale operations and pursue long-term strategies with greater certainty.

Among the year’s highlights, U.S. Steel invested approximately $27 million to enhance rail infrastructure at its Big River Steel Works facility, boosting production capacity and reinforcing northeast Arkansas as a hub for advanced steel manufacturing. Meanwhile, South Dakota Soybean Processors completed a $500 million processing plant near Mitchell, capable of handling 35 million bushels annually, supporting regional agriculture and improving market access.

As investment momentum continues, BNSF remains focused on enabling sustainable growth, improving logistics efficiency, and supporting economic development across its rail network.

© 2026 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
National indemnity

Berkshire Hathaway Expands Japan Bet with $1.8 Billion Tokio Marine Stake

(BRK.A), (BRK.B)

Berkshire Hathaway is expanding its presence in Japan’s insurance sector through a new strategic investment in Tokio Marine Holdings. Its subsidiary, National Indemnity Company, will acquire a 2.49% stake in Tokio Marine for ¥287.4 billion (about $1.8 billion) via a third-party allotment of treasury shares.

To protect existing shareholders, Tokio Marine plans to repurchase its own stock and avoid dilution. National Indemnity has also agreed to cap its ownership at 9.9% unless it receives prior approval from Tokio Marine’s board.

The deal goes beyond a simple equity investment. Both companies aim to collaborate on reinsurance and jointly pursue mergers and acquisitions, combining Berkshire’s financial strength with Tokio Marine’s extensive global underwriting network.

Founded as Japan’s oldest insurer, Tokio Marine operates in nearly 40 countries and reported total assets of ¥31.2 trillion (around $205 billion) as of March 2025, along with annual adjusted net income of approximately ¥1.07 trillion—underscoring the scale of this partnership between two major industry players.

© 2026 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
Berkshire Hathaway Specialty Insurance

Berkshire Hathaway Specialty Insurance Enters Irish Surety Market, Appoints Sean Mulvey as Head

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has announced its entry into the surety market in Ireland, marking a further expansion of its capabilities in the region. As part of this move, the company has appointed Sean Mulvey as Head of Surety to lead the new product line.

BHSI aims to provide surety bonding solutions to leading construction firms involved in major national and international projects across Ireland. According to Caoimhe Gormley, Country Manager for Ireland, the combination of Mulvey’s experience and the company’s strong financial position will offer clients greater certainty and stability as they pursue large-scale opportunities and deliver critical infrastructure.

Mulvey brings over a decade of experience in surety underwriting and corporate banking to the role and will be based in Dublin.

© 2026 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
Lessons From Warren Buffett

Lessons From Warren Buffett: All Dollars Are Created Equal

Warren Buffett has long cautioned investors against getting swept up in the excitement of trendy industries. At Berkshire Hathaway’s 1999 annual meeting, he reminded shareholders that the value of money doesn’t depend on its source.

“A dollar earned from a horseshoe company is the same as a dollar earned from an internet company,” Buffett said. “It is not worth more, based on whether it comes from somebody named dot-com or the Old-Fashioned Horseshoe Company. The dollars are equal.”

His message: profits are profits, regardless of industry. Investors should focus on business fundamentals rather than chasing sectors simply because they are fashionable.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2026 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
HomeServices of America

HomeServices of America and Zillow Team Up

(BRK.A), (BRK.B)

Berkshire Hathaway’s HomeServices of America, one of the nation’s leading providers of homeownership services, has announced a new partnership with Zillow Group aimed at giving real estate listings earlier and greater exposure.

Through the collaboration, eligible “coming soon” properties from agents affiliated with HomeServices will be featured in Zillow’s Preview program before officially going live. These listings will appear on both Zillow and Trulia, offering buyers an early look at homes and creating additional lead opportunities for agents.

Zillow, which attracts an average of 235 million monthly users and operates the top real estate app in the U.S., provides significant reach. The partnership extends to HomeServices-owned companies as well as the Berkshire Hathaway HomeServices franchise network, collectively representing more than 75,000 agents and nearly 200,000 listings.

Listings included in the Preview program will receive enhanced placement in search results, prominently displaying brokerage information and direct contact options for listing agents. This setup allows prospective buyers to connect directly with agents even before homes officially hit the market.

After the preview period, listings will transition to standard display once they are entered into local Multiple Listing Services (MLS), in accordance with local rules and regulations.

Executives from both companies emphasized the benefits of the partnership. Chris Kelly highlighted the added exposure for sellers at the start of the sales process, while Jeremy Wacksman noted the shared commitment to transparency and empowering consumers with better information.

The initiative reflects a broader effort to modernize how homes are marketed, giving both buyers and sellers more timely access to critical real estate data.

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
BNSF

BNSF Breaks Ground on Major Logistics Center in Gunter, Texas

(BRK.A), (BRK.B)

BNSF Railway and city officials in Gunter, Texas, have officially broken ground on the new Logistics Center North Dallas, marking the start of construction on a major industrial development designed to support regional economic growth.

Local leaders, including Gunter Mayor Karen Souther, Grayson County Judge Bruce Dawsey, community representatives, and public-private partners attended the ceremony celebrating the launch of the project.

The 944-acre logistics center will be located about an hour north of Dallas and roughly 30 minutes from Frisco. Positioned near State Highway 289, the site will operate as a multi-customer, multi-commodity industrial park with direct rail service, giving businesses expanded access to transportation and supply chains across North Texas.

According to BNSF, the ready-to-build facility will also provide companies with a speed-to-market advantage by cutting an estimated nine to 12 months from typical development timelines.

“Gunter is well-placed in one of the fastest-growing corridors in the country,” said BNSF Assistant Vice President of Economic Development and Real Estate Scot Bates. “This logistics center allows customers to expand their supply chain reach faster and more efficiently.”

Mayor Karen Souther described the groundbreaking as a key milestone for the city. She emphasized that the project was made possible through collaboration among local leaders and partners committed to balancing community protection with new economic opportunities.

Officials say the development is expected to bring several community benefits, including lower transportation costs through rail shipping, well-paying long-term logistics and supply-chain jobs, and reduced truck traffic on regional roadways. By shifting more freight to rail, the facility could also help decrease congestion and emissions.

BNSF and the City of Gunter will continue working together on zoning and platting requirements as the project moves forward. Construction of the first phase is expected to take about 19 months.

© 2026 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
Lessons From Warren Buffett

Lessons From Warren Buffett: Graham’s Three Timeless Lessons

Warren Buffett, widely regarded as Benjamin Graham’s most successful student, has often credited Graham’s book The Intelligent Investor as the foundation of his investing philosophy. At Berkshire Hathaway’s 1995 annual meeting, Buffett summed up Graham’s teachings into three timeless principles.

First, he emphasized the importance of maintaining the right attitude toward the stock market, as outlined in Chapter 8 of Graham’s book. “If you’ve got that attitude toward the market, you start ahead of 99 percent of all people,” Buffett noted.

Second, he highlighted the concept of a margin of safety — buying with a cushion to protect against errors or unforeseen risks — a principle he said applies far beyond investing.

Finally, Buffett urged investors to view stocks not as trading vehicles but as ownership in real businesses. Together, these principles form the bedrock of value investing and continue to guide Buffett’s approach today.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2026 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
Berkshire Hathaway Specialty Insurance

Rory O’Broin Joins BHSI to Lead Global Transactional Liability Business

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has appointed Rory O’Broin as Global Head of Transactional Liability, strengthening its leadership team amid growing demand for specialized risk solutions in global dealmaking.

Announcing the appointment, Hilary Browne, Global Chief Underwriting Officer at BHSI, said the company is pleased to welcome O’Broin and highlighted the significant contribution he is expected to make to the global transactional liability business. She noted that the move reflects BHSI’s ongoing commitment to enhancing its global capabilities in a rapidly evolving market and delivering tailored, high-quality solutions to clients.

O’Broin brings extensive international experience spanning M&A transactional liability, contingent risk, and tax liability insurance. He also offers deep legal expertise in supporting complex cross-border transactions. He will be based in the company’s London office.

© 2026 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
Lessons From Warren Buffett

Lessons From Warren Buffett: The Two Questions Every Investor Should Ask

Warren Buffett has long emphasized simplicity and discipline when evaluating potential investments. At Berkshire Hathaway’s 1995 annual meeting, he explained the two threshold questions he always asks before committing capital.

“The first question is, can I understand it?” Buffett said, noting that he avoids businesses outside his circle of competence, such as software or biotech. “There’s no sense kidding myself into thinking that I’m going to understand some software company … what the hell am I going to know about it?”

Once he clears that hurdle, Buffett turns to the second question: does the business have strong economics? Specifically, he looks for companies that consistently earn high returns on capital.

These two principles—understandability and solid economics—remain cornerstones of Buffett’s investing approach.

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Categories
Berkshire Hathaway Specialty Insurance

BHSI Appoints Marcus Portbury as Regional President, Asia Middle East

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Marcus Portbury as Regional President, Asia Middle East (AME), reinforcing its leadership presence across the region. Subject to regulatory approval, Portbury will also assume the role of Chief Executive of the company’s Hong Kong Branch.

Portbury succeeds Marc Breuil, who is retiring from both the company and the insurance industry after a distinguished career.

Peter Eastwood, President and CEO of BHSI, said Portbury has been instrumental in expanding the company’s footprint across Asia and the Middle East since its regional launch. He credited Portbury with upholding BHSI’s underwriting discipline, financial strength and commitment to customer service.

Eastwood also paid tribute to Breuil’s leadership, noting that he helped establish a strong and stable portfolio while building a high-performing team across the region.

Portbury joined BHSI in 2014 and most recently served as Regional Head of Third-Party Lines, Asia. With more than 30 years of insurance industry experience — including over two decades in senior leadership roles across Asia — he will continue to be based in Hong Kong.

© 2026 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.