Berkshire Hathaway reports $299.3 billion in assets in Q3 2026, Apple remains its largest position
As of September 30, 2026, Berkshire Hathaway reported a listed portfolio of $299.3 billion, with 22% ($65.95 billion) invested in Apple. The top 10 holdings account for nearly 91% of the total, with American Express and Alphabet in second and third positions.
Berkshire Hathaway, the conglomerate led by Warren Buffett, reported a listed portfolio of $299.3 billion as of September 30, 2026, covering 26 listed positions in the United States.
Warren Buffett follows a so-called "value investing" approach, seeking businesses with a durable competitive advantage (or "moat") and capable of generating stable cash flows over the long term. The manager favors listed equities, holding them for many years, and avoids speculative operations or short positions. This discipline has allowed Berkshire Hathaway to accumulate more than $300 billion in managed assets over decades, with a strong preference for sectors such as consumer goods, financial services, and energy. The current portfolio reflects these priorities by concentrating the largest amounts in globally recognized brands and strong financial institutions, aligning with the strategy of acquiring high-quality companies at reasonable valuations.
Major New Positions and Reinforcements
According to available information, the Q3 2026 13F filing does not indicate any new positions or major reinforcements compared to previous disclosures. The top 10 holdings remain unchanged, with Apple Inc. leading at $65.95 billion (22.0% of the portfolio), followed by American Express ($51.28 billion â 17.1%), Alphabet ($37.76 billion â 12.6%), and Coca-Cola ($32.51 billion â 10.9%). These holdings collectively amount to $272.4 billion, representing approximately 91% of the total declared value.
Each top 10 holding aligns with Buffett's investment logic. Apple combines a massive user base, a closed ecosystem, and the ability to generate high margins, constituting a rare technological moat. American Express benefits from a premium payment network and strong customer loyalty, two criteria appreciated by the fund. Alphabet, while more growth-oriented, holds a dominant position in online search and digital advertising, sources of recurring cash flow. Coca-Cola, a consumer staple icon, offers a global brand and the ability to withstand economic cycles. Bank of America provides exposure to financial services with an attractive dividend yield. Chevron and Occidental offer exposure to energy, a sector Buffett views as essential to the global economy and one where he sees attractive valuation opportunities. Chubb, a leading insurer, boasts a strong combined ratio, signaling operational efficiency. Moody's, a credit rating agency, benefits from a near-monopolistic positioning in its field. Finally, Kraft Heinz, a food industry player, aligns with Buffett's preference for brands rooted in consumer habits.
By aggregating these positions, the fund demonstrates a macroeconomic vision focused on the resilience of American businesses, their ability to generate cash flow even during slowdowns, and diversification across technology, consumption, finance, and energy. No notable movements were indicated, suggesting a desire for stability and confidence in the already held titles.
Reductions and Exits â What Buffett/The Manager is Abandoning
The 13F report mentions no reductions in stakes or full exits among the 26 declared holdings. Without additional data, it appears that the fund maintained all its positions during the quarter without selling major assets or significantly reducing its exposure to already favored sectors. This absence of disengagement reinforces the interpretation of a long-term accumulation and holding strategy.
The Limits of the 13F: What This Filing DOES NOT Say
Required by the SEC, the 13F form only lists long equity positions in U.S.-listed securities held at the end of the quarter, with a 45-day delay after the quarter's close. It does not include short positions, options, futures contracts, non-U.S. listed securities, or indirect holdings through funds or portfolio companies. Thus, Berkshire Hathaway's real portfolio, which also includes private investments (e.g., BNSF Railway, Seeâs Candies) and debt securities, is not fully reflected in this filing. Additionally, movements between the quarter-end date and the filing date (August 14, 2026) remain invisible. Investors should therefore consider the 13F as a partial snapshot, useful for identifying major public positions but insufficient to grasp the entirety of the fund's allocation strategy.
