Berkshire Hathaway

BRK.A and BRK.B • NYSE

Berkshire Hathaway is a insurance - diversified company in the financial services sector on NYSE, led by Warren E. Buffett, with a market cap of $1.09T. As of Q3 2025, 47% of shares are held by 4,549 institutional investors, with VANGUARD GROUP INC as the largest holder at 7.42%.

CEOWarren E. Buffett

Market Cap$1.09T

Insurance - Diversified

Financial Services

Employees396.5K

Websiteberkshirehathaway.com

Country

United States of America

Overview

Overview of institutional ownership in BRK.A and BRK.B as of Q3 2025 with a market cap of $1.08T

All Institutions

Institutions: 4,549
Value Held: $511.49B
Shares Held: 882.1M
Avg Position: $88.5M
Median Position: $2.7M

Hedge Funds

Hedge Funds: 154
Value Held: $10.8B
Shares Held: 18.1M
Avg Position: $58.8M
Median Position: $5.7M

Ownership Breakdown

Institutional (non-HF)

46.16%

$500.73B

Hedge Funds

0.993%

$10.8B

Retail & Other

52.85%

$573.21B

Based on market cap of $1.08T as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BRK.A and BRK.B as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$80.5B 1.20% of portfolio	7.42% 154.3M shares	Q4 2019 Held for 5y 11m	$6.69T
B BlackRock, Inc. Institution	-	$58.1B 1.02% of portfolio	5.36% 114.6M shares	Q4 2019 Held for 5y 11m	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$36.9B 1.28% of portfolio	3.40% 72.8M shares	Q4 2019 Held for 5y 11m	$2.88T
FMR LLC Institution	-	$24.9B 1.29% of portfolio	2.29% 8.9M shares	Q4 2019 Held for 5y 11m	$1.92T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$20.0B 1.28% of portfolio	1.85% 40.0M shares	Q4 2019 Held for 5y 11m	$1.57T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$13.9B 0.85% of portfolio	1.28% 26.6M shares	Q4 2019 Held for 5y 11m	$1.65T
FIRST MANHATTAN CO Institution	Zachary A Wydra CEO	$12.0B 31.87% of portfolio	1.11% 1.9M shares	Q4 2019 Held for 5y 11m	$37.6B
B BILL & MELINDA GATES FOUNDATION TRUST Institution	-	$10.9B 29.91% of portfolio	1.01% 21.8M shares	Q4 2019 Held for 5y 11m	$36.6B
NORTHERN TRUST CORP Institution	Michael G. O'Grady CEO	$8.2B 1.05% of portfolio	0.76% 15.8M shares	Q4 2019 Held for 5y 11m	$782.01B
C CANERECTOR INC Institution	-	$7.0B 12.49% of portfolio	0.64% 13.8M shares	Q4 2024 Held for 11 months	$55.6B

Net Capital Flow

Institutional buying and selling activity for BRK.A and BRK.B in Q3 2025

Net Flow: −$770.26B
Buyers: 1,820
Sellers: 1,961
Total Bought: +$20.3B
Total Sold: −$790.56B
Avg Position: $112.3M

Biggest Buyers

Institution	Net Bought	Current Position
C CANERECTOR INC Institution	+$6.9B +13.8M shares	$7.0B 13.8M shares
NATURAL INVESTMENTS, LLC RIA/Wealth	+$1.8B +-18.0 shares	$1.8B 2.4K shares
H H&H International Investment, LLC Hedge Fund•Long/Short	+$910.0M +1.8M shares	$2.6B 5.2M shares
A Assenagon Asset Management S.A. Institution	+$877.2M +1.7M shares	$1.4B 2.7M shares
VANGUARD GROUP INC Institution	+$610.1M +1.2M shares	$80.5B 154.3M shares
B BlackRock, Inc. Institution	+$442.8M +1.1M shares	$58.1B 114.6M shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	+$430.3M +845.4K shares	$761.5M 1.4M shares
J JANE STREET GROUP, LLC Institution	+$355.4M +672.5K shares	$363.1M 675.8K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$248.0M +511.2K shares	$375.5M 700.4K shares
B BESSEMER GROUP INC Institution	+$235.7M +468.9K shares	$485.7M 922.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
Waterford Advisors, LLC RIA/Wealth	−$399.47B −529.7K shares	$1.5M 2.0 shares
VESTOR CAPITAL CORP RIA/Wealth	−$301.67B −644.1K shares	$7.6M 6.2K shares
Modern Wealth Management, LLC RIA/Wealth	−$49.8B −42.2K shares	$49.6M 89.8K shares
Strategic Investment Advisors / MI RIA/Wealth	−$10.5B −167.0 shares	$3.0M 4.5K shares
W WoodTrust Financial Corp Institution	−$7.4B −28.4K shares	$43.4M 57.9K shares
Peterson Wealth Services RIA/Wealth	−$6.1B −17.4K shares	$8.8M 25.0 shares
FMR LLC Institution	−$4.7B −115.6K shares	$24.9B 8.9M shares
B BILL & MELINDA GATES FOUNDATION TRUST Institution	−$1.2B −2.4M shares	$10.9B 21.8M shares
Kestra Advisory Services, LLC RIA/Wealth	−$909.3M −39.7K shares	$259.0M 477.6K shares
JPMORGAN CHASE & CO Institution	−$592.5M −1.2M shares	$6.4B 12.6M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BRK.A and BRK.B in Q3 2025

New Positions: 61
New Value: $89.1M
Exited Positions: 113
Exited Value: $528.0M

New Positions

Institution	Position Value
180 GPS Investments IC Ltd RIA/Wealth	$14.2M 28.3K shares
T TEMA ETFS LLC Institution	$11.2M 22.2K shares
Morningstar Investment Management LLC Long Only Manager	$5.8M 11.5K shares
Pacific Capital Partners Ltd RIA/Wealth	$5.6M 629.0 shares
B Blueprint Financial Advisors LLC RIA/Wealth	$5.4M 10.8K shares
Investor's Fiduciary Advisor Network, LLC RIA/Wealth	$4.7M 9.4K shares
WJ Financial Advisors LLC RIA/Wealth	$4.5M 8.9K shares
Q Quantessence Capital LLC Hedge Fund•Quant	$3.0M 4.0 shares
Berman McAleer LLC RIA/Wealth	$2.7M 5.3K shares
R Roberts Capital Advisors, LLC Institution	$2.4M 4.7K shares

Exited Positions

Institution	Previous Position
T TEXAS PERMANENT SCHOOL FUND Institution	$67.6M 139.1K shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	$59.3M 122.1K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$51.4M 105.7K shares
S SBI Securities Co., Ltd. Institution	$35.4M 72.8K shares
B Bradyco, Inc. Institution	$28.6M 51.5K shares
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$27.9M 57.5K shares
Bellwether Advisors, LLC RIA/Wealth	$16.5M 33.9K shares
PAYDEN & RYGEL Long Only Manager	$15.9M 32.8K shares
T TCG Advisory Services, LLC RIA/Wealth	$15.9M 29.7K shares
C CLAUDIA M.P. BATLLE, CRP LLC RIA/Wealth	$15.2M 31.3K shares

Options Activity

Institutions with the largest Call and Put options positions in BRK.A and BRK.B as of Q3 2025

Call Positions: 59
Call Value: $11.8B
Put Positions: 59
Put Value: $7.5B

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.9B 58.2K contracts
C CIBC World Markets Inc. Institution	$1.8B 24.0 contracts
C CHECK CAPITAL MANAGEMENT INC/CA RIA/Wealth	$1.5B 28.9K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.4B 27.5K contracts
W WOLVERINE TRADING, LLC Institution	$736.3M 14.7K contracts
J JANE STREET GROUP, LLC Institution	$621.0M 12.4K contracts
GOLDMAN SACHS GROUP INC Institution	$492.3M 9.8K contracts
D D. E. Shaw & Co., Inc. Institution	$300.7M 6.0K contracts
R ROYAL BANK OF CANADA Institution	$224.9M 4.5K contracts
UBS Group AG Institution	$200.2M 4.0K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.9B 37.2K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$851.4M 16.9K contracts
J JANE STREET GROUP, LLC Institution	$738.5M 14.7K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$458.1M 9.1K contracts
CITIGROUP INC Institution	$346.9M 6.9K contracts
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	$343.9M 6.8K contracts
C CIBC World Markets Inc. Institution	$301.7M 4.0 contracts
UBS Group AG Institution	$292.6M 5.8K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$231.4M 4.6K contracts
W WOLVERINE TRADING, LLC Institution	$228.8M 4.6K contracts

Most Committed Institutions

Institutions with BRK.A and BRK.B as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
1 1922 Investment Co LLC Institution	-	89.35% $2.7M	0.00% 5.4K shares	Q2 2024 Held for 1y 5m	$3.0M
N NORTHWESTERN UNIVERSITY Institution	-	88.05% $49.8M	0.00% 66.0 shares	Q4 2019 Held for 5y 11m	$56.5M
G Graham Holdings Co Master Retirement Trust Institution	-	84.94% $625.2M	0.06% 829.0 shares	Q4 2021 Held for 3y 11m	$736.1M
NATURAL INVESTMENTS, LLC RIA/Wealth	Christopher James Peck CCO	82.91% $1.8B	0.17% 2.4K shares	Q4 2024 Held for 11 months	$2.2B
H Hikari Tsushin, Inc. Institution	-	58.09% $864.0M	0.08% 29.0K shares	Q4 2021 Held for 3y 11m	$1.5B
U University of Maryland Foundation, Inc. Institution	-	57.08% $3.0M	0.00% 4.0 shares	Q4 2019 Held for 5y 11m	$5.3M
Graham Holdings Co Institution	Timothy J. O'Shaughnessy CEO	56.12% $560.6M	0.05% 482.3K shares	Q4 2021 Held for 3y 11m	$998.8M
H Hikari Power Ltd Institution	-	49.87% $594.4M	0.05% 8.5K shares	Q4 2019 Held for 5y 11m	$1.2B
Baldwin Investment Management, LLC RIA/Wealth	Susan Berry Gorelli CEO	49.10% $428.9M	0.04% 19.5K shares	Q4 2019 Held for 5y 11m	$873.4M
C Canton Hathaway, LLC RIA/Wealth	Nicholas Grave Trotman Managing Partner	47.88% $238.5M	0.02% 21.6K shares	Q4 2019 Held for 5y 11m	$498.1M

Hedge Fund Spotlight

Discover hedge funds investing in BRK.A and BRK.B

New Age Alpha Advisors, LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerArmen Raphael Arus

Portfolio Value: $2.4B
Positions: 799
Last Reported: Q3 2025

Sector Allocation

Position in Berkshire Hathaway

BRK.A and BRK.B

Market Value: $83.5M
Shares Held: 171.4K
Portfolio Weight: 4.08%
Owned Since: 2024-Q2

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