13F-HR: Berkshire Hathaway Discloses Q3 2025 Equity Holdings

Berkshire Hathaway Inc. has filed its Form 13F-HR, revealing its equity holdings totaling over $267 billion as of September 30, 2025.

Summary

• Berkshire Hathaway Inc. reported its institutional investment holdings for the quarter ended September 30, 2025.
• The total market value of the reported holdings was $267,334,501,955.
• The report included 115 distinct holding entries across various companies.
• The filing encompasses holdings managed by Berkshire Hathaway Inc. and 14 other included managers, such as Berkshire Hathaway Homestate Insurance Co. and National Indemnity Co.
• Key holdings include significant positions in Apple Inc., American Express Co., Bank of America Corp., Coca-Cola Co., and Chevron Corp.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of holdings and does not inherently convey positive or negative sentiment regarding the reporting manager's performance or outlook.

Positives

• The portfolio demonstrates substantial value, exceeding $267 billion, reflecting significant investment capital.
• Holdings are diversified across major sectors including technology, financial services, consumer staples, energy, and industrials, indicating a broad investment strategy.
• Large positions in well-established, blue-chip companies like Apple, American Express, and Coca-Cola suggest a focus on stable, high-quality assets.

Negatives

• NA

Risks

• NA

Future Outlook

NA

Management Comments

• NA

Industry Context

Berkshire Hathaway's portfolio, as disclosed in this 13F filing, continues to reflect a strategic preference for established companies across diverse sectors. The significant allocations to financial services (American Express, Bank of America), technology (Apple), consumer staples (Coca-Cola, Kraft Heinz), and energy (Chevron, Occidental Petroleum) align with a long-standing investment philosophy focused on businesses with strong brand recognition, durable competitive advantages, and consistent cash flows. This approach often contrasts with more growth-oriented or sector-specific funds, highlighting Berkshire's value-driven and long-term investment horizon.

Comparison to Industry Standards

• Berkshire Hathaway's portfolio exhibits a concentrated investment strategy, with a substantial portion of its total value allocated to a relatively small number of companies, particularly Apple Inc., American Express Co., and Bank of America Corp. This concentration is distinct from many institutional portfolios that typically hold a larger number of smaller positions to achieve broader diversification.
• The significant weighting towards financial services and consumer staples aligns with Berkshire's historical preference for mature, stable industries, often seeking companies with strong economic moats and predictable earnings, a strategy that diverges from the higher-growth, often more volatile, technology-heavy portfolios common among many modern investment funds.
• The inclusion of energy sector giants like Chevron and Occidental Petroleum reflects a continued belief in the long-term value of traditional energy assets, potentially offering a hedge against inflation or commodity price fluctuations, a position that may differ from institutions with stronger ESG mandates or a focus on renewable energy transitions.

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• NA

Stakeholder Impact

• Shareholders of Berkshire Hathaway Inc. gain transparency into the company's investment strategy and portfolio composition, which can influence their perception of the company's asset allocation and long-term value.
• The market prices of the underlying securities held by Berkshire Hathaway may be influenced by the disclosure of these significant positions, particularly for smaller-cap holdings or those where Berkshire's stake is a substantial portion of the outstanding shares.

Next Steps

• NA

Key Dates

Keywords

Berkshire Hathaway, 13F, Holdings, Equity Portfolio, Investment, Warren Buffett, Q3 2025, SEC Filing, Institutional Investor