Key Morningstar Metrics for Berkshire Hathaway
- Fair Value Estimate: USD 765,000
- Morningstar Rating: ★★★
- Morningstar Economic Moat Rating: Narrow
- Morningstar Uncertainty Rating: Low
Berkshire 13F Update
Berkshire Hathaway BRK.A reported a few changes in its 13F equity investment portfolio for the third quarter, including selling more Apple and Bank of America shares while starting a new stake in Alphabet.
Why it matters: Based on our estimates, net sales came in at around USD 7.9 billion (composed of USD 13.1 billion of estimated sales and USD 5.2 billion of purchases). While this varied from the insurer’s reported net sales of USD 6.1 billion (USD 12.5 billion/USD 6.4 billion) in its recent 10-Q filing, the 13F only includes US reportable securities.
- Among the major changes made during the September quarter was the sale of an additional 41.8 million shares of Apple for an estimated USD 9.6 billion, as well as the sale of another 37.2 million shares of Bank of America for an estimated USD 1.8 billion. Berkshire has been selling Apple since the start of September 2023, and Bank of America since the start of July 2024.
- Berkshire also sold a third of its stake in VeriSign for an estimated USD 1.2 billion, 1.6 million shares of DaVita for USD 225 million, 0.2 million shares of Nucor for USD 27 million, and eliminated the firm’s stake in D.R. Horton for USD 222 million.
- The insurer put new money to work in Alphabet’s Class A shares, buying 17.8 million shares for USD 3.7 billion, and increased its stake in Chubb by nearly 16% for USD 1.2 billion. Other additions included 0.3 million shares of Domino’s Pizza for USD 154 million, 5.0 million shares of Sirius XM for USD 116 million, 32,603 shares of Lamar Advertising for USD 4.0 billion, and 2,007 Lennar Class B shares for USD 237 million.
Key stats: Berkshire ended the third quarter of 2025 with USD 267.3 billion worth of reportable equity holdings, based on its 13F filing, which was up 3.8% from reportable equity holdings of USD 257.5 billion at the end of the second quarter.
