Warren Buffett is set to release his annual Berkshire Hathaway Inc. (BRK) shareholder letter this Saturday, following another year of outperforming the SP 500 in 2024. What to Expect in Buffett’s Latest Letter Every year, Buffett’s letter offers a mix of market insights, Berkshire Hathaway’s performance review, and commentary on key stock investments. Last year’s edition was particularly memorable, featuring a heartfelt tribute to Charlie Munger, whom Buffett called “the architect of Berkshire Hathaway.” This time, while Munger may receive another tribute, the focus will likely shift toward Berkshire’s current investments and business operations. As Buffett stated in last year’s letter: “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.” Potential Highlights of the Letter Buffett has historically spotlighted a few standout stocks in Berkshire’s portfolio. In past letters, he singled out Coca-Cola, American Express, Occidental Petroleum, and a selection of Japanese stocks. Apple: Still a Favorite? Buffett trimmed Berkshire’s Apple holdings recently but held firm in Q4. Will he still see it as a top pick, or share insights on its future and Berkshire’s stake? New Investments on the Radar Berkshire boosted its stake in Domino’s Pizza (DPZ) and added Constellation Brands (STZ). Investors await clues on whether these moves are defensive or growth-driven. Succession Planning With Buffett now 94, succession remains a key topic. Last year’s letter confirmed Greg Abel as the designated successor, but investors will be looking for further details on his growing role and how leadership transition plans are progressing. Insights on Berkshire’s Businesses Beyond stock picks, Buffett’s letter will likely provide updates on Berkshire’s operating companies, from insurance to railroads to consumer brands. Duracell, a Berkshire-owned company, made its Super Bowl ad debut this year—Buffett’s thoughts on that decision could offer valuable marketing insights. Macroeconomic Political Commentary Buffett typically avoids direct political commentary, but investors will still be watching for his thoughts on key issues like tariffs, international markets, and potential interest rate cuts. Berkshire’s Market Performance Berkshire is outperforming the SP 500 so far in 2025 but trailing over the past year. With Buffett’s letter always a must-read for investors, Saturday’s release could provide key insights into Berkshire’s future—and perhaps a few surprises.