(Reuters) -Class A shares of Warren Buffett's Berkshire Hathaway fell 3% in afternoon trading on Monday, as investors fretted over a $3.8 billion write-down and a dip in quarterly operating profit that the firm disclosed on Saturday.

The write-down of Berkshire Hathaway's 27.4% stake in Kraft Heinz, its second for the company, reflects a significant decline in the value of the investment.

Berkshire had taken a $3 billion write-down in Kraft Heinz in 2019.

The conglomerate also reported a 4% dip in operating income, which fell from $11.6 billion the year earlier, as underwriting premiums fell and trade policy uncertainties hurt most of Berkshire's consumer businesses.

The Omaha, Nebraska-based company, which has not repurchased any shares since May 2024, indicated it remains cautious about market valuations amid ongoing uncertainty over tariffs and economic growth.

Class A shares of the company, which have gained about 2% in 2025, lagged the benchmark S&P 500 index. The stock shed gains since Buffett's announcement to step down as the CEO of the conglomerate at the end of the year.

Buffett, 94, has led the company for over five decades.