The investment fund Berkshire Hathaway, under the leadership of Warren Buffett, reported a publicly traded portfolio of $299.3 billion for the third quarter of 2026. The 13F filing indicates that the portfolio includes 26 positions, with the top ten representing nearly 90% of the total value. INVESTMENT PHILOSOPHY OF WARREN BUFFETT Warren Buffett is known for an investment approach focused on value. He seeks companies with sustainable competitive advantages, high-quality management, and a stable history of profitability. This philosophy favors equity positions in the United States, often in sectors such as consumer goods, financial services, and energy, where he believes future cash flows are predictable. The track record of Berkshire Hathaway demonstrates a preference for long-term positions with minimal portfolio turnover from year to year. MAJOR NEW POSITIONS AND STRENGTHENINGS The 13F filing dated August 14, 2026, lists the top ten positions by value. Apple Inc. leads with $65.95 billion, representing 22.0% of the portfolio, followed by American Express ($51.28 billion, 17.1%), Alphabet ($37.76 billion, 12.6%), Coca-Cola ($32.51 billion, 10.9%), and Bank of America ($27.54 billion, 9.2%). Positions in the energy sector – Chevron ($13.99 billion, 4.7%) and Occidental Petroleum ($12.87 billion, 4.3%) – as well as insurance (Chubb, $11.67 billion, 3.9%) and financial services (Moody’s, $11.17 billion, 3.7%) complete the top ten. The remainder of the portfolio, totaling $26.8 billion, is spread across 16 additional positions not detailed in the summary provided. No details are available in the filing regarding new positions or increases in stake compared to the previous quarter. REDUCTIONS AND EXIT: WHAT BUFFETT IS LEAVING BEHIND The document does not explicitly specify the securities that were reduced or completely liquidated during the quarter. Without a comparison to the previous quarter's filings, it is impossible to identify specific divestments. The filing only includes the holdings as of the quarter’s closing date, without indication of percentage changes or share counts compared to prior periods. LIMITS OF THE 13F: WHAT THIS FILING DOES NOT SAY The Form 13F, required by the SEC, reflects only long equity positions in U.S.-listed companies and excludes short positions, options, futures contracts, or non-equity investments. Reporting is due within 45 days after the end of the quarter, introducing a lag that can make the information slightly outdated. Additionally, foreign holdings or indirect investments through funds are not always fully captured. Thus, the filing provides only a partial view of Berkshire Hathaway's actual portfolio. MACROECONOMIC PERSPECTIVE OF BERKSHIRE HATHAWAY Based solely on the reported securities, the portfolio shows significant exposure to the technology sector (Apple, Alphabet), financial services (American Express, Bank of America), and consumer goods (Coca-Cola, Kraft Heinz). The notable presence of energy assets (Chevron, Occidental) indicates diversification into commodities, likely to hedge against oil price fluctuations. This composition suggests that the fund continues to favor enterprises with strong cash flow generation, capable of enduring uncertain economic cycles. Individual investors may interpret this allocation as a reflection of Buffett's conviction in stability and long-term cash flow generation. ACCESS THE FULL DOCUMENT The complete filing is available on the SEC website via the following link: https://www.sec.gov/Archives/edgar/data/1067983/000119312526352200/0001193125-26-352200-index.htm. Readers wishing to examine detailed positions, exact share quantities, and reported values are encouraged to review the original document. DISCLOSURE All information presented is derived from the 13F filing submitted on August 14, 2026. No figures were added or extrapolated beyond what is indicated in the official filing. Investors should consider the inherent limitations of this type of reporting before making investment decisions.