In his annual letter to shareholders, Warren Buffett said he’s looking for “more major acquisitions” after the economic recovery and the purchase of the Burlington Northern Santa Fe railroad helped increase fourth-quarter profits at his Berkshire Hathaway Inc., Bloomberg reported. “Our elephant gun has been reloaded, and my trigger finger is itchy,” Buffett said of the outlook for deals. Omaha-based Berkshire reported a 43 percent gain in profits in the three months ended Dec. 31, 2010. The company’s cash holdings rose to $38.2 billion, the highest in three years. Buffett, 80, is seeking takeovers as economic expansion boosts results at Berkshire’s subsidiaries and near record-low interest rates limit the returns available in fixed-income markets. Net income in the three months ended Dec. 31 surged to $4.38 billion, Berkshire’s highest quarterly profits since 2007, Bloomberg said.