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13F filings

Berkshire

Warren Buffett
Performance
Assuming an initial $100,000 · Benchmark: S&P 500
Hypothetical
Replication modeTop 5Top 10>1%
YTD1Y5Y8YAll
CompoundFixed

Gains are reinvested — principal and returns grow together.

$100k$150k2021/082023/042024/112026/07$175k$180k
Backtest through 2026-07-28
After filingAt quarter endBenchmark · S&P 500
After filingbuys the holdings only once the filing is public — about 45 days after the quarter ends. The path someone could actually have taken.
At quarter endpretends the same holdings were bought on the last day of the quarter, before anyone could have known them. Not possible in reality — shown dashed for comparison only.
BenchmarkS&P 500 (SPY) total return over the same window — what doing nothing but holding the market would earn.

Hypothetical backtest — not a real trading record. Simulated on public data from 2013-08: each position is bought only after the filing became public (using no information unavailable at the time), with trading costs deducted, on a total-return basis. Past performance does not predict future results.

All metrics below are computed on the After-filing curve.
Return?
12.4%
Compound annual return over the sample.
Risk?
19.2%
How much returns swing (annualized stdev); lower is steadier.
Return vs risk?
0.71
Return ÷ volatility; higher is better.
Beat SPX?
−1.7%
Annualized gain over the S&P.
Excess?
−1.3%
The strategy's own annual excess, apart from the market.
Significance?
t=−0.58 · very weak
t-value: how solid the excess is — higher is more reliable.
Max DD?
−38.8%
Largest peak-to-trough fall.
Leverage?
1.01×
How many times it rises and falls together with the market.
Longest recovery?
23 mo
Longest wait from a peak back to a new high.
About
Warren Buffett

Warren Buffett has run Berkshire Hathaway since 1965, buying outstanding businesses at fair prices and holding them for the long haul — turning that value discipline into one of the most studied long-term records in history. He transformed a failing textile mill into a colossal insurance-and-industrial conglomerate, and his decades of compounding are treated as canon.

Holdings & changes
Replication modeTop 5Top 10>1%
Current holdingsPosition changes
2026-Q1 filing · filed 2026-05-15
>1% · filed weights
Others 8.3%
TickerNameWeightvs last filing
AAPL
Apple Inc.
22.0%0.6
AXP
American Express Company
17.4%3.0
KO
Coca-Cola Company
11.6%+1.4
BAC
Bank of America Corporation
9.5%0.9
CVX
Chevron Corporation
6.6%0.6
OXY
Occidental Petroleum Corporation
6.5%+2.6
GOOGL
Alphabet Inc. Class A Common Stock
5.9%+3.9
MCO
Moody's Corporation
4.1%0.5
KHC
The Kraft Heinz Company Common Stock
2.8%
DVA
DaVita Inc.
1.8%+0.4
KR
The Kroger Co.
1.4%+0.2
SIRI
Siriusxm Holdings Inc
1.1%
DAL
Delta Air Lines, Inc.
1.0%New
Risk
The replication is built from public filings: ~45-day lag, US long stock positions only; replication returns are not the fund’s real returns, and the manager may have traded since.
Past / backtested performance does not predict the future. Masterfolio is an information service / publisher, not an investment adviser.
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Berkshire · Warren Buffett · Masterfolio