NYSE · Financials

BERKSHIRE HATHAWAY INC-CL B BRK.B

Berkshire Hathaway is a diversified holding company built around insurance, railroads, energy, operating subsidiaries, public equities, permanent capital, float, and capital allocation.

Insurance / Holding Company

Company profile

Business mix

  • Insurance: GEICO, reinsurance, and insurance float are long-term capital sources.
  • BNSF, Berkshire Hathaway Energy, and many industrial, service, and retail subsidiaries provide operating earnings.
  • Public equities include long-held positions such as Apple, American Express, Coca-Cola, and Bank of America.

Current key questions

  • How do cash balances, buybacks, and large acquisition opportunities shape future compounding?
  • How do underwriting profit, BNSF, energy, operating subsidiaries, and public equities differ across cycles?
  • How durable are capital allocation and governance after Buffett?
Holders 15 Current sample portfolio
Public mentions 28 Videos / interviews / letters
Valuation snapshot
PE 14.54 FCF 2.27% Buyback -0.05%
2026-06-07

Current firm holders

Firm Weight Value Filing period
H&H International Investment Duan Yongping 21.9% $4.4B 2026-03-31
GQG Partners Rajiv Jain 1.4% $908.9M 2026-03-31
Markel Group Tom Gayner 6.1% $734.1M 2026-03-31
Gardner Russo & Quinn Thomas Russo 6.3% $532.1M 2026-03-31
Himalaya Capital Li Lu 13.4% $430.2M 2026-03-31
Davis Advisors Chris Davis 1.6% $359.3M 2026-03-31
Giverny Capital Francois Rochon 6.6% $181.4M 2026-03-31
Yacktman Asset Management Stephen Yacktman 2.0% $150.9M 2026-03-31
Sequoia Fund 2.5% $148.7M 2026-03-31
Weitz Investment Management Wallace Weitz 9.3% $133.6M 2026-03-31
Semper Augustus Investments Group Christopher Bloomstran 14.5% $121.2M 2026-03-31
Soros Fund Management George Soros 0.7% $63.9M 2026-03-31
Gotham Asset Management Joel Greenblatt 0.2% $49.9M 2026-03-31
Tweedy, Browne Company 3.7% $46.7M 2026-03-31
Mar Vista Investment Partners 2.9% $28.8M 2026-03-31

Recent trading changes over the last 4 quarters

Net buyers 7 Last 4 13F filing periods
Net reducers 6 Last 4 13F filing periods
Unchanged holders 3 Share count unchanged
Increase amount $3.8B Estimated from net added shares
Reduction amount $147.4M Estimated from net reduced shares
Net share change / base shares +78.4% +7,588,637 / 9,676,495
H&H International Investment Duan Yongping 4 filing periods
13F 2025-06-30 Filed 2025-08-14
Unchanged Shares 0.0% 13F value change $0
13F 2025-09-30 Filed 2025-11-14
Major increase Shares 53.5% 13F value change +$967.3M
13F 2025-12-31 Filed 2026-02-17
Major increase Shares 38.2% 13F value change +$997.2M
13F 2026-03-31 Filed 2026-05-19
Major increase Shares 27.5% 13F value change +$776.5M
Settlement As of 13F 2026-03-31 · Filed 2026-05-19
Base shares 3,381,300 Last 4 periods +5,766,496 (+170.5%) Total shares 9,147,796 Value $4.4B
Himalaya Capital Li Lu 4 filing periods
13F 2025-06-30 Filed 2025-08-14
Unchanged Shares 0.0% 13F value change $0
13F 2025-09-30 Filed 2025-11-12
Unchanged Shares 0.0% 13F value change $0
13F 2025-12-31 Filed 2026-02-17
Unchanged Shares 0.0% 13F value change $0
13F 2026-03-31 Filed 2026-05-15
Unchanged Shares 0.0% 13F value change $0
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 897,749 Last 4 periods +0 (0.0%) Total shares 897,749 Value $430.2M
Soros Fund Management George Soros 1 filing periods
13F 2026-03-31 Filed 2026-05-15
New Shares - 13F value change +$63.9M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 0 Last 4 periods +133,277 (New) Total shares 133,277 Value $63.9M
Gotham Asset Management Joel Greenblatt 4 filing periods
13F 2025-06-30 Filed 2025-08-14
Minor increase Shares 1.2% 13F value change -$4.0M
13F 2025-09-30 Filed 2025-11-14
Minor increase Shares 5.4% 13F value change +$4.3M
13F 2025-12-31 Filed 2026-02-17
Minor reduction Shares -2.7% 13F value change -$1.4M
13F 2026-03-31 Filed 2026-05-15
Minor increase Shares 3.6% 13F value change -$635,251
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 96,845 Last 4 periods +7,239 (+7.5%) Total shares 104,084 Value $49.9M
Giverny Capital Francois Rochon 4 filing periods
13F 2025-06-30 Filed 2025-08-13
Minor increase Shares 1.7% 13F value change -$19.5M
13F 2025-09-30 Filed 2025-11-14
Minor reduction Shares -0.2% 13F value change +$8.1M
13F 2025-12-31 Filed 2026-02-13
Minor reduction Shares -0.9% 13F value change -$2.4M
13F 2026-03-31 Filed 2026-05-15
Major reduction Shares -25.2% 13F value change -$72.9M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 503,332 Last 4 periods -124,707 (-24.8%) Total shares 378,625 Value $181.4M
Sequoia Fund 4 filing periods
13F 2025-06-30 Filed 2025-08-14
Minor reduction Shares -3.0% 13F value change -$20.7M
13F 2025-09-30 Filed 2025-11-14
Minor reduction Shares -1.3% 13F value change +$3.4M
13F 2025-12-31 Filed 2026-02-13
Minor reduction Shares -2.0% 13F value change -$3.3M
13F 2026-03-31 Filed 2026-05-15
Minor reduction Shares -1.8% 13F value change -$10.2M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 336,982 Last 4 periods -26,594 (-7.9%) Total shares 310,388 Value $148.7M
Semper Augustus Investments Group Christopher Bloomstran 4 filing periods
13F 2025-06-30 Filed 2025-08-15
Minor increase Shares 3.1% 13F value change -$7.7M
13F 2025-09-30 Filed 2025-11-14
Minor increase Shares 1.4% 13F value change +$6.0M
13F 2025-12-31 Filed 2026-02-17
Minor reduction Shares -0.4% 13F value change -$539,246
13F 2026-03-31 Filed 2026-05-15
Minor increase Shares 1.5% 13F value change -$4.0M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 239,349 Last 4 periods +13,676 (+5.7%) Total shares 253,025 Value $121.2M
Weitz Investment Management Wallace Weitz 4 filing periods
13F 2025-06-30 Filed 2025-08-12
Unchanged Shares 0.0% 13F value change $0
13F 2025-09-30 Filed 2025-11-10
Unchanged Shares 0.0% 13F value change $0
13F 2025-12-31 Filed 2026-02-12
Unchanged Shares 0.0% 13F value change $0
13F 2026-03-31 Filed 2026-05-14
Minor reduction Shares -2.8% 13F value change -$10.6M
Settlement As of 13F 2026-03-31 · Filed 2026-05-14
Base shares 286,850 Last 4 periods -8,000 (-2.8%) Total shares 278,850 Value $133.6M
Gardner Russo & Quinn Thomas Russo 4 filing periods
13F 2025-06-30 Filed 2025-08-13
Minor reduction Shares -2.2% 13F value change -$67.9M
13F 2025-09-30 Filed 2025-11-12
Minor increase Shares 0.6% 13F value change +$23.0M
13F 2025-12-31 Filed 2026-02-12
Minor reduction Shares -3.1% 13F value change -$18.2M
13F 2026-03-31 Filed 2026-05-13
Minor reduction Shares -1.3% 13F value change -$33.6M
Settlement As of 13F 2026-03-31 · Filed 2026-05-13
Base shares 1,180,608 Last 4 periods -70,179 (-5.9%) Total shares 1,110,429 Value $532.1M
Mar Vista Investment Partners 4 filing periods
13F 2025-06-30 Filed 2025-08-11
Minor increase Shares 0.9% 13F value change -$3.2M
13F 2025-09-30 Filed 2025-11-12
Major reduction Shares -16.0% 13F value change -$4.9M
13F 2025-12-31 Filed 2026-02-17
Minor reduction Shares -7.3% 13F value change -$2.4M
13F 2026-03-31 Filed 2026-05-13
Minor increase Shares 0.3% 13F value change -$1.3M
Settlement As of 13F 2026-03-31 · Filed 2026-05-13
Base shares 76,295 Last 4 periods -16,236 (-21.3%) Total shares 60,059 Value $28.8M
GQG Partners Rajiv Jain 2 filing periods
13F 2025-12-31 Filed 2026-02-13
New Shares - 13F value change +$1.0B
13F 2026-03-31 Filed 2026-05-12
Minor reduction Shares -5.1% 13F value change -$95.3M
Settlement As of 13F 2026-03-31 · Filed 2026-05-12
Base shares 0 Last 4 periods +1,896,646 (New) Total shares 1,896,646 Value $908.9M
Davis Advisors Chris Davis 4 filing periods
13F 2025-06-30 Filed 2025-08-08
Major reduction Shares -18.4% 13F value change -$92.3M
13F 2025-09-30 Filed 2025-11-12
Minor reduction Shares -3.6% 13F value change -$604,267
13F 2025-12-31 Filed 2026-02-02
Major increase Shares 38.6% 13F value change +$103.5M
13F 2026-03-31 Filed 2026-05-07
Minor increase Shares 1.3% 13F value change -$12.6M
Settlement As of 13F 2026-03-31 · Filed 2026-05-07
Base shares 678,453 Last 4 periods +71,393 (+10.5%) Total shares 749,846 Value $359.3M
Tweedy, Browne Company 4 filing periods
13F 2025-06-30 Filed 2025-07-29
Minor increase Shares 12.8% 13F value change +$1.4M
13F 2025-09-30 Filed 2025-11-20
Minor reduction Shares -2.4% 13F value change +$522,901
13F 2025-12-31 Filed 2026-02-03
Minor reduction Shares -2.1% 13F value change -$1.0M
13F 2026-03-31 Filed 2026-05-06
Minor increase Shares 0.3% 13F value change -$2.1M
Settlement As of 13F 2026-03-31 · Filed 2026-05-06
Base shares 89,970 Last 4 periods +7,436 (+8.3%) Total shares 97,406 Value $46.7M
Markel Group Tom Gayner 4 filing periods
13F 2025-06-30 Filed 2025-08-01
Unchanged Shares 0.0% 13F value change $0
13F 2025-09-30 Filed 2025-10-31
Unchanged Shares 0.0% 13F value change $0
13F 2025-12-31 Filed 2026-02-06
Unchanged Shares 0.0% 13F value change $0
13F 2026-03-31 Filed 2026-05-01
Unchanged Shares 0.0% 13F value change $0
Settlement As of 13F 2026-03-31 · Filed 2026-05-01
Base shares 1,531,971 Last 4 periods +0 (0.0%) Total shares 1,531,971 Value $734.1M
Yacktman Asset Management Stephen Yacktman 4 filing periods
13F 2025-06-30 Filed 2025-08-06
Minor reduction Shares -13.2% 13F value change -$41.9M
13F 2025-09-30 Filed 2025-11-04
Minor reduction Shares -2.0% 13F value change +$2.3M
13F 2025-12-31 Filed 2026-02-03
Minor reduction Shares -2.3% 13F value change -$3.7M
13F 2026-03-31 Filed 2026-05-01
Minor increase Shares 0.6% 13F value change -$6.4M
Settlement As of 13F 2026-03-31 · Filed 2026-05-01
Base shares 376,791 Last 4 periods -61,810 (-16.4%) Total shares 314,981 Value $150.9M
Smead Capital Management 2 filing periods
13F 2025-03-31 Filed 2025-05-14
New Shares - 13F value change +$100.7M
13F 2025-06-30 Filed 2025-08-14
Sold out Shares -100.0% 13F value change -$100.7M
Settlement As of 13F 2025-06-30 · Filed 2025-08-14
Base shares 0 Last 4 periods +0 (New) Total shares 0 Value $0

Recent mentions

Mental Models at Heilbrunn Center for Graham and Dodd Investing

Pabrai Investment Funds / Dalal Street · Mohnish Pabrai

Pabrai lectures on mental models at Columbia Business School's Heilbrunn Center, and the official summary mentions Buffett's early entrepreneurship, habit-forming children, and the "savior" in dilemmas.

Public speech

Warren Buffett's Mid-Meeting Live Interview

Berkshire Hathaway · Warren Buffett

Buffett was interviewed by Becky Quick during halftime of the 2026 Berkshire Annual Meeting, focusing on his post-CEO role, Greg Abel's mandate, scarcity of market opportunities, AI, and Berkshire's cash option.

Interview

2026 Berkshire Hathaway Annual Meeting

Berkshire Hathaway · Warren Buffett

Greg Abel hosted the annual meeting for the first time as Berkshire CEO, with Buffett present as chairman. The focus shifted from Buffett's personal Q&A to Berkshire's operating system, cultural continuity and Q&A with each business leader.

Shareholder meeting

CNBC Squawk Box Interview with Warren Buffett

Berkshire Hathaway · Warren Buffett

One of Buffett's first long interviews since stepping down as CEO, on the return of charity lunches, office routines, Greg Abel, Apple, cash, T-Bills, market declines, and circle of competence issues at AI/tech companies.

Interview

Berkshire Hathaway 2025 Annual Report

Berkshire Hathaway · Warren Buffett

Greg Abel's first CEO shareholder letter. It is not a long letter written by Buffett, but it is very important because it is the first time to use the language of a formal annual report to explain Berkshire’s capital allocation and cultural continuation after Buffett’s retirement.

Shareholder letter / fund letter

Warren Buffett Thanksgiving Letter

Berkshire Hathaway · Warren Buffett

In his Thanksgiving message, Buffett confirmed that he would no longer write long letters to Berkshire’s annual report and would no longer speak for long periods of time at the annual meeting; he also told Greg Abel to take over, that he would continue to serve as chairman, and that he would accelerate charitable donations.

Shareholder letter / fund letter

2025 Berkshire Hathaway Annual Meeting

Berkshire Hathaway · Warren Buffett

Buffett's final Berkshire annual meeting as CEO. The biggest story was his announcement at the end of the meeting that he would recommend to the board that Greg Abel take over as CEO at the end of the year.

Shareholder meeting

Berkshire Hathaway 2024 Annual Report / Warren Buffett Letter

Berkshire Hathaway · Warren Buffett

Buffett's 60th annual shareholder letter, reviewing Berkshire's transformation from a textile mill to a large conglomerate, explaining cash, taxes, investment opportunities, insurance, and Japanese trading company positions.

Shareholder letter / fund letter

Li Lu: Global value investing and the times

Himalaya Capital · Li Lu

Li Lu delivered a long speech at the 10th anniversary of the "Value Investment" course at Peking University Guanghua School of Management. The theme was global value investment and the times, focusing on insufficient domestic demand, private economic confidence, changes in the American order, the middle-income stage, modern capital markets and global value investment methods.

Public video

2024 Berkshire Hathaway Annual Meeting

Berkshire Hathaway · Warren Buffett

First Berkshire Annual Meeting after the death of Charlie Munger. Buffett joins Greg Abel and Ajit Jain to talk Apple reductions, capital gains taxes, AI scams, Paramount losses and the Berkshire succession.

Shareholder meeting

Giverny Capital Annual Letter 2023

Giverny Capital · Francois Rochon

Giverny's 2023 annual letter discusses market rebounds, portfolio company operations, long-term investment principles and individual stock cases, reflecting Rochon's focus on growth in the intrinsic value of companies.

Shareholder letter / fund letter

Berkshire Hathaway 2023 Annual Report / Warren Buffett Letter

Berkshire Hathaway · Warren Buffett

First Buffett shareholder letter after Munger's death. It opens with Munger as the architect of Berkshire and Buffett himself more as a general contractor; then returns to long-term holdings, insurance, energy, cash and avoiding Wall Street noise.

Shareholder letter / fund letter

Charlie Munger's Final CNBC Interview

Daily Journal Corporation · Charlie Munger

Daily Journal / Charlie Munger 这条访谈资料提供了可用于跟踪的公开信息,适合作为后续比较其观点和持仓变化的基线。

Interview

2023 Berkshire Hathaway Annual Meeting

Berkshire Hathaway · Warren Buffett

Buffett shared the stage with Munger to answer questions about the banking crisis, Apple, Occidental, TSMC, AI, Sino-US relations, and the resilience of the US economy. It was one of Munger's last major public Q&A sessions.

Shareholder meeting

2023 Daily Journal Annual Meeting

Daily Journal Corporation · Charlie Munger

The Daily Journal 2023 Annual Meeting features a Q&A hosted by Becky Quick, with Charlie Munger discussing the Daily Journal, Journal Technologies, Alibaba, BYD, Tesla, cryptocurrency, investing disciplines, and life lessons.

Shareholder meeting

Giverny Capital Annual Letter 2021

Giverny Capital · Francois Rochon

Giverny's 2021 Annual Letter looks back at strong market years, long-term portfolio performance, corporate cases and investment principles, setting the stage for the 2022 pullback.

Shareholder letter / fund letter

2022 Daily Journal Annual Meeting Transcript

Daily Journal Corporation · Charlie Munger

Daily Journal 2022 Annual Meeting Q&A Transcript, with Munger discussing China, Alibaba, inflation, banks, the software business, investment manager fees and rational judgment, is important context ahead of the 2023 Annual Meeting.

Public Q&A

Snowball Special Edition: Duan Yongping Investment Questions and Answers (Investment Logic)

H& H International Investment · Duan Yongping

Snowball Special Edition compiles Duan Yongping’s public Q&A on investment philosophy, circle of competence, valuation, discounted cash flow, opportunity cost, derivatives and investment mentality. It is a classic material that has long been cited by the Chinese value investment community.

Public Q&A

Li Lu 2019 Peking University Speech and Q&A

Himalaya Capital · Li Lu

Li Lu's public lectures and Q&A at Peking University, focusing on China opportunities, value investment practices, circles of competence, long-termism and corporate research, are important public materials for understanding Himalaya's Chinese perspective.

Public Q&A

Lecture at Peking University Guanghua School of Management

Pabrai Investment Funds / Dalal Street · Mohnish Pabrai

Pabrai's classic long lecture at Peking University Guanghua School of Management revolved around Dhandho, cloning, low risk and high uncertainty, and learning from Buffett/Munger.

Public speech

Lecture at Boston College Carroll School of Management

Pabrai Investment Funds / Dalal Street · Mohnish Pabrai

Pabrai's classic student lectures at Boston College have long been used as an introduction to understanding his Dhandho, Buffett/Munger learning paths and models of investment behavior.

Public speech

Graham & Doddsville Interview with Li Lu

Himalaya Capital · Li Lu

Columbia Business School Graham & Doddsville's long interview with Li Lu, discussing the introduction to value investing, how investors can find a style that suits them, management judgment, error control, and long-term compounding.

Interview

Li Lu Speech at San Francisco State University

Himalaya Capital · Li Lu

Li Lu's public speech at San Francisco State University talked about the basic principles of value investing, circle of competence, cash flow, market fluctuations and long-term mentality. It is one of the classic speeches long cited in the Chinese investment circle.

Public speech

Warren Buffett and Bill Gates: Keeping America Great

Berkshire Hathaway · Warren Buffett

Buffett's open Q&A with Bill Gates for students at Columbia Business School. The setting is the aftermath of the financial crisis, and topics focus on American capitalism, career choices, innovation, philanthropy, and how to maintain long-term judgment in a recession.

Public Q&A

Mr. Buffett on the Stock Market

Berkshire Hathaway · Warren Buffett

Fortune's classic market valuation article based on Buffett's 1999 Sun Valley speech. It explains that long-term stock returns ultimately come from interest rates, corporate profits and investor expectations, rather than the market story itself.

Public speech

Warren Buffett Lecture at University of Florida

Berkshire Hathaway · Warren Buffett

Buffett's classic public lecture and Q&A for University of Florida MBA students, spanning integrity, circles of competence, good business, long-term holding, LTCM, risk, and career choices.

Public speech

The Superinvestors of Graham-and-Doddsville

Berkshire Hathaway · Warren Buffett

Buffett gave a lecture at Columbia for the 50th anniversary of Security Analysis, later compiled into an article. It is one of the most classic public defenses of value investing, using the long track record of a group of Graham-Dodd investors to refute the claim that markets are perfectly efficient.

Public speech