Unlocking the Empire: How Many Companies Does Berkshire Hathaway Fully Own?
Hey there! Ever wondered about the sheer scale of Warren Buffett's empire? It's like a giant jigsaw puzzle, with countless pieces fitting together to form the behemoth that is Berkshire Hathaway. Today, we're going to dive deep and uncover just how many companies this legendary conglomerate fully owns. It's more than you might think, and the list is a fascinating mix of household names and industrial powerhouses.
Step 1: Let's Start with a Glimpse into the Kingdom
First things first, let's understand the two main ways Berkshire Hathaway operates:
Wholly Owned Subsidiaries: These are the companies that Berkshire Hathaway has acquired completely, owning 100% of their stock. They are part of the Berkshire family and are managed with a hands-off approach, allowing existing management to continue running the business.
Equity Holdings: These are publicly traded companies where Berkshire Hathaway owns a significant portion of shares, but not the entire company. This is the part of the portfolio that you often see in the news, with massive stakes in companies like Apple, Coca-Cola, and American Express.
While the equity holdings are well-known, the wholly-owned subsidiaries are the true foundation of the empire, generating consistent earnings that fuel further growth. So, are you ready to explore the hidden gems of the Berkshire portfolio?
Step 2: Counting the Companies: The Ever-Growing List
So, how many companies does Berkshire Hathaway fully own? The exact number can fluctuate slightly due to acquisitions and divestitures, but as of mid-2025, the number is consistently cited as more than 60, and often over 70.
It's important to note that this isn't a static number. The company is always on the lookout for new acquisitions that meet its strict criteria, and sometimes, a subsidiary may acquire smaller companies itself, expanding the network even further. This is why the precise count can be a bit elusive, but the overall figure is impressive.
A Closer Look at the Wholly-Owned Subsidiaries
Let's break down the fully owned companies into key sectors to give you a better idea of the variety within the Berkshire empire:
Insurance: This is the heart of Berkshire's business model. Companies like GEICO, the well-known auto insurer, and National Indemnity Company are crucial to the conglomerate's success. The premiums from these insurance operations provide a massive "float"—a pool of cash that can be invested, which is a key driver of Berkshire's growth.
Railroad, Utilities, and Energy: This segment is anchored by the BNSF Railway, one of the largest freight rail networks in North America. This is a massive asset that moves goods across the continent. Additionally, Berkshire Hathaway Energy owns a portfolio of utility and energy generation and distribution companies, including MidAmerican Energy and NV Energy.
Manufacturing, Service, and Retail: This is where you find the diverse collection of businesses that touch your daily life. The list is long and fascinating, including:
Duracell: The battery giant.
Fruit of the Loom: A classic American clothing brand.
Dairy Queen: Everyone's favorite treat shop.
See's Candies: The beloved candy company.
NetJets: A leader in private jet fractional ownership.
The Pampered Chef: A direct seller of kitchen products.
Shaw Industries: A leading manufacturer of flooring.
McLane Company: A wholesale distributor to grocery and convenience stores.
Clayton Homes: A major builder of manufactured homes.
Nebraska Furniture Mart: A massive home furnishings store in Omaha.
Benjamin Moore: The well-known paint company.
This is just a small sample, but it illustrates the incredible breadth of the Berkshire Hathaway portfolio. These aren't just investments; they are operating businesses that generate billions in revenue and earnings for the parent company.
Step 3: The Acquisition Philosophy: What Makes a Company a 'Berkshire Company'?
It's not just about finding a company to buy. Warren Buffett and his team have a very specific, and highly disciplined, acquisition philosophy. If you're wondering how a company becomes a wholly-owned subsidiary, here's the guide:
A Consistent Earning Power: Berkshire Hathaway is not interested in "turnaround" situations or future projections. They want to see a history of strong, consistent earnings.
A Simple Business Model: Buffett famously says he only invests in businesses he can understand. If there's too much complex technology, it's a pass.
Management in Place: Berkshire doesn't want to replace the existing leadership. They acquire companies with strong, ethical management teams who are eager to continue running the business.
No Unfriendly Takeovers: Buffett is famous for his friendly acquisitions, preferring to work with the management and owners of the target company.
A Fair Offering Price: While Berkshire is known for its value-oriented approach, they are not looking for fire-sale deals. They want a reasonable price that reflects the business's intrinsic value.
This philosophy has allowed Berkshire to build a portfolio of durable, well-run businesses that can weather economic storms and continue to generate strong cash flow.
Step 4: Beyond the Wholly-Owned: The Publicly Traded Portfolio
While this post focuses on the wholly-owned companies, it's impossible to discuss Berkshire Hathaway without mentioning its publicly traded holdings. These are the companies where Berkshire owns a significant, but not controlling, stake. Think of them as a massive investment portfolio.
As of mid-2025, some of the top equity holdings in the portfolio include:
Apple (AAPL)
American Express (AXP)
The Coca-Cola Company (KO)
Bank of America (BAC)
Chevron (CVX)
These investments are not about operational control, but rather about owning a piece of great, well-managed businesses for the long term.
10 Related FAQ Questions
How to find a complete list of all Berkshire Hathaway subsidiaries? To find a comprehensive list, you can refer to the official Berkshire Hathaway website's list of subsidiaries. Financial data providers and SEC filings also provide detailed information on the company's holdings.
How to determine the value of a Berkshire Hathaway subsidiary? The value of a wholly-owned subsidiary is not publicly traded, but it is reflected in Berkshire Hathaway's overall financial statements. The company's annual reports provide financial details for its major business segments.
How to invest in a Berkshire Hathaway subsidiary? You cannot directly invest in a wholly-owned subsidiary like GEICO or Dairy Queen. To gain exposure to these companies, you must purchase shares of Berkshire Hathaway stock (BRK.A or BRK.B).
How to become a supplier to a Berkshire Hathaway company? Each subsidiary operates independently. You would need to contact the specific company you wish to work with and follow their procurement and vendor application processes.
How to get a job at a Berkshire Hathaway subsidiary? Job applications are handled directly by the individual subsidiaries. You should visit the career pages of companies like GEICO, BNSF, or Duracell to see their open positions.
How to sell my company to Berkshire Hathaway? You would need to meet the strict acquisition criteria outlined by Warren Buffett, which includes consistent earnings, a simple business model, and existing management. You can find the acquisition criteria on the official Berkshire Hathaway website.
How to differentiate between Berkshire's wholly-owned companies and its equity holdings? Wholly-owned companies are 100% owned by Berkshire Hathaway and are a part of its operating business segments. Equity holdings are minority stakes in publicly traded companies, held in Berkshire's investment portfolio.
How to understand the role of 'float' in Berkshire Hathaway's business? 'Float' is the money collected by Berkshire's insurance companies in premiums before they have to pay out claims. This large pool of cash is invested by Berkshire, providing a low-cost source of capital for acquisitions and investments.
How to buy Berkshire Hathaway stock? You can purchase shares of Berkshire Hathaway's Class A (BRK.A) or Class B (BRK.B) stock through a brokerage account. BRK.B is more affordable and liquid, while BRK.A is the original, higher-priced share.
How to learn more about Warren Buffett's investment philosophy? You can read Warren Buffett's annual letters to shareholders, which are a treasure trove of wisdom and insights. There are also many excellent books and documentaries about his life and career.