Berkshire shares hit all-time highs

Both classes of Berkshire Hathaway stock hit all-time intraday highs in today's trading, building on a rally that has erased the steep drop last March that was sparked by the onset of the coronavirus pandemic.

Class A shares traded as high as $356,500 today before falling back to close at $354,401, a 0.1% drop from yesterday's all-time closing high of $354,760.

It's the same story for the Class B shares.  They hit $236.98 today before losing a bit of ground to close at $235.16, a drop of 0.3% from yesterday's all-time closing high of $235.77.

Earlier this week, UBS has raised its price target for Berkshire Hathaway Class B shares to $272 from $233, according to Reuters.

The new target would be a gain of almost 16% from today's closing price.

The Class A target went to $407,000 from $350,000, which is 15% more than today's close.

NetJets invests in turning waste into fuel

Berkshire Hathaway's NetJets says it is the first private aviation company to "buy a stake in the production of sustainable aviation fuel."

It has committed to buying at least 100 million gallons of fuel over the next ten years produced by WasteFuel, a company that says it uses "proven technology that converts municipal waste into aviation grade biofuel that burns at an 80% reduction in carbon to fossil fuel-based aviation fuel."

Aviation Week reports NetJets is also acquiring a 20% stake in WasteFuel.

According to the news release, the companies are starting to develop a plant in Manilla, Philippines that would eventually "convert 1 million tons of municipal waste into 30 million gallons" of jet fuel each year.

They hope to have it operational in 2025.

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BERKSHIRE STOCK WATCH

BERKSHIRE'S TOP U.S. STOCK HOLDINGS - Feb 5, 2021

Berkshire's top holdings of disclosed publicly-traded U.S. stocks by market value, based on today's closing prices.

Holdings are as of September 30, 2020 as reported in Berkshire Hathaway and New England Asset Management's 13F filings on November 16, 2020.

The full list of holdings and current market values is available from CNBC.com's Berkshire Hathaway Portfolio Tracker.

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-- Alex Crippen, Editor, Warren Buffett Watch