Berkshire Hathaway (BRK.B) is a diversified holding company whose subsidiaries are involved in insurance, freight rail transportation, energy generation and distribution, manufacturing, and retailing. Led by billionaire investor and chief executive officer (CEO) Warren Buffett, Berkshire Hathaway also holds a large investment portfolio of equity securities and derivatives.
In January 2024, Berkshire Hathaway announced it reached an agreement with Pilot Corporation to purchase the remaining 20% interest in the company. As such, Berkshire Hathaway now owns all of the Pilot Travel Centers.
The top shareholders of Berkshire Hathaway class B shares are Warren E. Buffett, Susan A. Buffett, Ronald L. Olson, Vanguard Group, BlackRock (BLK), and State Street (STT).
The company's net income for the trailing 12 months (TTM) was $96.22 billion as of Dec. 31, 2023. The revenue for the same period was $439.34 billion. As of Feb. 28, 2024. Berkshire Hathaway had a market capitalization of $894.96 billion. Below, we look in more detail at Berkshire Hathaway's top shareholders.
Key Takeaways
- Berkshire Hathaway is a diversified holding company.
- Its subsidiaries are involved in insurance, transportation, energy generation, manufacturing, and retailing.
- The top three individual shareholders are Warren Buffett, Susan Buffett, and Ronald Olson.
- The company's top three institutional shareholders are Vanguard, BlackRock, and State Street.
Top 3 Individual Insider Shareholders
The shares held by the individuals below only refer to direct ownership. As such, the information noted below does not include indirect ownership of shares or shares accessible through stock options.
Warren E. Buffett
Warren Buffett owns a total of 276 Berkshire Hathaway Class B shares and 227,416Class A shares. Regarded as one of the world's most successful investors, Buffett is the company's chair and CEO. After his investment group took control of Berkshire Hathaway in 1965,
Buffett built it into one of the world's biggest and best-performing companies. He achieved that in two ways:
- By buying undervalued companies through numerous acquisitions
- By investing in the shares of scores of public companies
Berkshire's giant investment portfolio has equity holdings worth hundreds of billions of dollars.
Buffet also serves as manager for Burlington Northern Santa Fe LLC, another subsidiary of the company. Buffett has a net worth of $132.3 billion.
Berkshire Hathaway CEO Warren Buffett's unofficial successor will be Greg Abel, CEO of Berkshire Hathaway Energy and vice chair in charge of noninsurance operations, according to an announcement from vice chair Charlie Munger on May 1, 2021. No date was suggested for the succession.
Susan A. Buffett
Susan Buffett owned roughly 4.38 million shares of Berkshire Hathaway Class B stock and 80 Class A shares.
Susan Buffett is a member of the company's board, having been elected to the position in October 2021. She also serves as chair of two charitable trusts, The Sherwood Foundation and The Susan Thompson Buffett Foundation.
Ronald L. Olson
Ronald Olson owns 27,742 Berkshire Hathaway Class B shares and 145 Class A shares. Olson is a director of Berkshire Hathaway.
He and the board have approved many of Buffett's major acquisitions into diverse industries, sharply boosting Berkshire's revenue and net income. Olson co-founded and is a senior partner at law firm Munger, Tolles & Olson.
The term insider refers to people in senior management positions and members of the board of directors, as well as people or entities that own more than 10% of the company's stock. In this context, it has nothing to do with insider trading.
Top 3 Institutional Shareholders
Institutional investorshold the majority of Berkshire Hathaway's class B shares.
Vanguard Group
Vanguard Group owns roughly 144.86 million class B shares of Berkshire Hathaway as of Feb. 27, 2024. This represents 6.7% of the total shares outstanding. The company is primarily a mutual fund and ETF management company with about $7.2 trillion in global assets under management (AUM).
The Vanguard S&P 500 ETF (VOO) is one of the company's largest exchange-traded funds (ETFs) with about $413.4 billion in AUM. Berkshire Hathaway is one of VOO's top 10 holdings, comprising 1.62% of the fund's total holdings.
BlackRock
BlackRock owns 105.22 million class B shares of Berkshire Hathaway or 4.87% of total shares outstanding. The company is primarily a mutual fund and ETF management company with over $9 trillion in AUM.
The iShares Core S&P 500 ETF (IVV) is among one of BlackRock's largest ETFs with approximately $443.62 billion in AUM. Berkshire Hathaway is one of IVV's top 10 holdings, comprising 1.71% of the fund's total holdings.
State Street
State Street owns 67.05 million class B shares of Berkshire Hathaway. This represents about 3.1% of the total shares outstanding. The company is primarily a manager of mutual funds, ETFs, and other assets with approximately $4.13 trillion in AUM.
The SPDR S&P 500 ETF Trust (SPY) is among one of State Street's largest ETFs with approximately $498.98 billion in AUM. Berkshire Hathaway is one of SPY's top 10 holdings, comprising 1.72% of the fund's total holdings.
Diversity & Inclusiveness of Berkshire Hathaway
As part of our effort toimprove the awareness of the importance of diversity in companies, we offer investors a glimpse into the level of transparency of Berkshire Hathaway and how that reflects its commitment to diversity, inclusiveness, and social responsibility. We examined the data Berkshire Hathaway releases. It shows Berkshire Hathaway does not disclose any data about the diversity of its board of directors, C-Suite, general management, and employees overall. It also shows Berkshire Hathaway does not reveal the diversity of itself by race, gender, ability, veteran status, or LGBTQ+ identity.
What Does Berkshire Hathaway Do?
Berkshire Hathaway is a diversified holding company. The company has subsidiaries in the insurance, transportation, energy, manufacturing, and retail industries. Some of its well-known subsidiaries include GEICO, Home Services of America, Pilot Flying J, and Allegheny. The company also has a large stake in major companies like American Express and Coca-Cola.
How Can I Invest in Berkshire Hathaway?
There are several ways you can invest in Berkshire Hathaway. Consider buying shares of an ETF or mutual fund that have the company in their portfolios. This option gives you indirect fractional ownership in Berkshire Hathaway, as the money you invest in these funds buys you a very small percentage of the company. If you can afford to do so, you can buy and sell shares in the company—usually Class B stock. Keep in mind that Class A stock was worth more than $600,000 per share.
Who Will Succeed Warren Buffett as Berkshire Hathaway's CEO?
Greg Abel was named as the successor to Warren Buffett. Abel serves as the CEO of Berkshire Hathaway Energy and vice chair in charge of noninsurance operations. Although the announcement was made in May 2021, there is no confirmed date that Abel will officially take over the reins from Buffett.
The Bottom Line
Berkshire Hathaway is a diverse holding company with well-known subsidiaries like GEICO and Dairy Queen. The company's top three individual shareholders are Warren Buffett, Susan Buffett, and Ronald Olson. The three main institutional shareholders are Vanguard, BlackRock, and State Street. If you're interested in investing in the company, consider buying shares of a mutual fund or ETF that have Berkshire Hathaway in their portfolio.
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