Warren Buffett is no longer at the helm of Berkshire Hathaway (BRK), and some members of Congress are apparently not sticking around to see what happens next.
Two lawmakers have sold their Berkshire stock in recent weeks, according to disclosures tracked by MarketDash. Rep. Josh Gottheimer (D-N.J.) sold between $1,000 and $15,000 in Berkshire Class B shares on May 4, 2026 — twice. Rep. Christian Menefee (D-Texas) unloaded a larger chunk on Feb. 10, with three sales totaling between $31,000 and $115,000.
Gottheimer is no stranger to trading Berkshire stock. He bought shares twice in 2024 and sold twice in 2025. Overall, he's one of Congress's most active traders, with over 3,500 transactions worth more than $340 million, per Quiver Quantitative. Menefee, who took office in 2026, had never disclosed a Berkshire purchase, meaning he likely held the stock before becoming a congressman.
The timing is interesting. Greg Abel took over as Berkshire's CEO at the start of 2026, succeeding Buffett after decades. While Buffett remains chairman, the transition marks a new chapter. The congressional sales could be a coincidence, but they also might reflect a broader sentiment: without the Oracle of Omaha calling the shots, some investors are taking profits or moving on.
Berkshire's first-quarter 13F filing — the first under Abel — showed a flurry of activity. The conglomerate added several new positions and exited others, one of the most active quarters in recent memory. It's a sign that Abel isn't afraid to shake things up, even if the market hasn't rewarded the stock lately.
Berkshire shares underperformed the S&P 500 (SPY) in 2025, and the trend has continued in 2026. Year-to-date, Berkshire is down 1.3%, while the S&P 500 has gained 8.3%. Investors once paid a premium for Buffett's stewardship, but with Abel at the wheel, that premium may be fading. Whether Abel can reverse the underperformance — or whether Congress's sales are a canary in the coal mine — remains to be seen.
