Berkshire Hathaway, the conglomerate led by Warren Buffett, filed its 13F form with the SEC for Q3 2026. The reported portfolio value is $299.3 billion, spread across 26 positions. This filing reflects holdings as of the last day of the quarter.
Warren Buffett's Investment Philosophy at Berkshire Hathaway
Warren Buffett, the legend of value investing, has led Berkshire Hathaway since 1965. His strategy focuses on selecting companies with durable competitive advantages, strong management, and reasonable valuations. He favors defensive sectors such as consumer staples, finance, and energy. His track record is extraordinary: an annualized return of approximately 20% over five decades, far outpacing the S&P 500. The current portfolio reflects this approach: large-cap stability, predictable cash flow generation, with a preference for dividend yields.
Key New Positions and Strengthens
The 13F filing does not detail intra-quarter movements, but the holdings as of the last day of the quarter show relative stability compared to previous quarters. No major new positions appear in the provided data; the number of positions remains unchanged at 26. Notable strengthens include:
Alphabet Inc: The position reaches $37.76 million, representing 12.6% of the portfolio, with 105,979,600 shares. Berkshire has increased its stake in recent quarters, reflecting growing conviction in the tech giant.
Occidental Petroleum: The holding amounts to $12.87 million (4.3%), with 264,941,431 shares. Buffett has actively increased this position, supporting energy transition and oil prices.
Chubb Limited: $11.67 million (3.9%), with 34,249,183 shares, a leading insurer.
These strengthens highlight a preference for technology (Alphabet) and energy (Occidental) sectors, while maintaining significant exposure to financials.
Cuts and Exits - What Buffett is Leaving Behind
The provided data does not explicitly show reductions or full exits compared to the previous quarter. However, portfolio concentration suggests adjustments: Apple represents 22.0% ($65.95 million), down from higher percentages in earlier quarters. Buffett has sold portions of his Apple stake in recent years for tax and valuation reasons. American Express (17.1%) and Coca-Cola (10.9%) remain stable pillars. No position has been fully sold, according to available information.
Limitations of the 13F: What This Filing Doesn't Say
The 13F form is a transparency tool but has significant limitations:
45-Day Delay: Positions are reported up to 45 days after the end of the quarter, so data may be outdated.
Longs Only: The 13F only reports long equity positions. Short positions, options, bonds, and private investments are excluded.
Non-US Exclusions: Non-US securities are not included unless traded in the US. Berkshire holds international stakes, but they do not appear here.
Despite these limitations, the 13F provides a valuable glimpse into Buffett's strategy. For individual investors, it's essential to consult the original filing on SEC EDGAR to verify figures. The link to the filing is available in the sources.
