Welcome! So, you're curious about the vast empire of Berkshire Hathaway, the legendary conglomerate led by the "Oracle of Omaha," Warren Buffett. It's a fantastic topic, because the answer isn't as simple as just one number. Berkshire Hathaway is more than just a company; it's a holding company that operates a diverse collection of businesses and also holds significant stock investments in many of the world's most recognizable companies.
Let's dive in and break down the different layers of the Berkshire Hathaway ownership structure.
Step 1: Understanding the Two Layers of Ownership
Before we get into the numbers, it's crucial to understand that Berkshire Hathaway's ownership can be divided into two main categories.
Wholly Owned Subsidiaries: These are companies that Berkshire Hathaway owns 100%. They are a direct part of the Berkshire family, and their results are consolidated into Berkshire's financial statements. Think of them as the bricks and mortar of the empire.
Equity Investments: These are the publicly traded companies where Berkshire Hathaway owns a significant portion of the stock, but not the whole company. In these cases, Berkshire is a major shareholder and can have a considerable influence, but it does not run the day-to-day operations. This is where you'll find the famous names you see in the news.
Think of it this way: owning a whole company is like owning a house. You own the whole thing, from the foundation to the roof. An equity investment is like owning a large apartment in a building. You have a significant stake, a voice, and a share of the profits, but you don't own the entire building.
Ready to explore both parts of this incredible portfolio? Let's go!
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| How Many Companies Does Berkshire Hathaway Own |
Step 2: The Wholly Owned Subsidiaries - The Core of the Empire
Berkshire Hathaway's official website lists dozens of wholly-owned subsidiaries, and the number can fluctuate as the company acquires new businesses or sells others. These are the companies that contribute directly to Berkshire's revenue and earnings. They are a diverse bunch, spanning a wide range of industries.
Here is a step-by-step breakdown of some key sectors and their well-known subsidiaries:
Sub-heading: Insurance is the Bedrock
QuickTip: Pause when something clicks.
The insurance business is the engine that drives a lot of Berkshire's acquisitions. The "float" – the money that insurance companies hold from premiums before paying out claims – provides a huge pool of capital that Buffett can use for investments and acquisitions.
GEICO: This is arguably the most famous Berkshire subsidiary. The auto insurance giant is a household name and a significant contributor to Berkshire's profits.
General Re: A major global reinsurance company, General Re provides a massive source of insurance float.
National Indemnity Company: Another key insurance player within the Berkshire portfolio.
Berkshire Hathaway Specialty Insurance: This newer addition focuses on a variety of commercial insurance products.
Sub-heading: Utilities & Energy - Powering the Nation
Berkshire Hathaway Energy is a major force in the utilities and energy sector.
Berkshire Hathaway Energy: This is a collection of utilities, pipelines, and renewable energy assets. It owns companies like MidAmerican Energy and PacifiCorp.
BNSF Railway: One of the largest freight rail networks in North America, BNSF is a huge and profitable subsidiary that is vital to the American economy.
Pilot Travel Centers: In early 2024, Berkshire became the sole owner of this massive network of travel centers and truck stops, a significant move.
Sub-heading: Manufacturing, Services & Retail - From Bricks to Batteries
This is where the diversity of the Berkshire portfolio really shines. The company owns a wide array of manufacturing and retail businesses.
Precision Castparts Corp. (PCC): A massive acquisition in the aerospace and industrial markets, PCC manufactures complex metal components.
Duracell: Everyone knows the Copper-top battery brand. This is a classic consumer products company in the portfolio.
Clayton Homes: The largest builder of manufactured and modular homes in the U.S.
Fruit of the Loom: A classic American brand for clothing and undergarments.
Shaw Industries: The world's largest carpet manufacturer.
McLane Company: A leading supply chain services company that provides distribution for restaurants and retailers.
See's Candies: A beloved confectionary company that is a consistent cash cow for Berkshire.
International Dairy Queen, Inc.: Everyone's favorite treat shop, and a long-standing Berkshire subsidiary.
The Pampered Chef: A direct seller of kitchenware and cookbooks.
Nebraska Furniture Mart: A large home furnishings retailer that has a special place in Warren Buffett's heart, as he has known the founder for many years.
So, how many? While the exact number of wholly-owned subsidiaries is constantly changing and can be hard to pin down with absolute precision due to mergers and acquisitions within the subsidiaries themselves, the number is consistently well over 60, and often cited to be over 80. The company’s own website lists dozens of them, but this is not always a complete list of every single legal entity under the Berkshire umbrella.
Step 3: The Equity Investments - The Famous Holdings
This is the part of the portfolio that gets the most attention. Through its insurance operations, Berkshire Hathaway invests billions of dollars in the stock market, taking large, often controlling, stakes in major publicly traded companies. The list of these holdings is revealed quarterly in the company's 13F filing with the SEC.
Here is a look at some of the most prominent equity investments, often referred to as the "Big Four" or "Big Five":
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Apple (AAPL): For many years, this has been Berkshire's largest holding by far. It represents a massive percentage of the equity portfolio's value, though recent filings have shown some trimming of the position.
Bank of America (BAC): Another massive and long-term holding in the financial sector.
American Express (AXP): A classic Buffett holding and a testament to his love for strong, enduring brands.
The Coca-Cola Company (KO): Perhaps the most iconic Buffett investment. He has held this stock for decades and it remains a core part of the portfolio.
Chevron (CVX): A significant energy sector holding that has been a more recent addition to the top tier of the portfolio.
Beyond these top holdings, Berkshire also owns significant stakes in companies like:
Occidental Petroleum (OXY)
Moody's Corporation (MCO)
Kraft Heinz (KHC) (Berkshire has a very large, influential stake in this food giant)
DaVita Inc. (DVA)
Chubb Limited (CB)
Visa (V) and Mastercard (MA)
And many, many more!
So, what's the total? Combining the wholly-owned subsidiaries and the equity investments, the number of companies that Berkshire Hathaway owns or has a significant stake in is well over 100. This number is not static; it changes every quarter with new investments, sales, and acquisitions.
Step 4: The Takeaway
The genius of Berkshire Hathaway is not just in the sheer number of companies it owns, but in the variety and quality of those businesses. The company is a diversified industrial powerhouse, an insurance giant, and a savvy stock market investor, all rolled into one. The "Oracle of Omaha" has built a portfolio that generates massive cash flow from its wholly-owned businesses, which is then deployed to acquire even more companies and make strategic investments in others. It's a continuous cycle of compounding capital that has made Berkshire Hathaway one of the most successful companies in history.
10 Related FAQ Questions
How to find the official list of Berkshire Hathaway's wholly-owned companies?
The official Berkshire Hathaway website has a page with links to many of its operating companies. While it's a great starting point, keep in mind that the list may not be exhaustive of every single legal entity. You can find it at berkshirehathaway.com.
How to see Berkshire Hathaway's stock investments?
QuickTip: Revisit key lines for better recall.
You can view Berkshire Hathaway's stock investments by looking at their 13F filing. This is a quarterly report submitted to the U.S. Securities and Exchange Commission (SEC) that lists all of their equity holdings. Financial news websites and investment platforms regularly report on this filing.
How to distinguish between a subsidiary and a stock holding?
A subsidiary is a company that Berkshire Hathaway owns outright (100% or close to it) and whose financial results are included in Berkshire's consolidated statements. A stock holding, or equity investment, is a stake in a publicly traded company where Berkshire owns shares but does not have full control.
How to invest in Berkshire Hathaway?
You can invest in Berkshire Hathaway by purchasing its shares on the stock market. The company has two classes of stock: Class A (BRK.A) and Class B (BRK.B). The Class B shares are much more affordable and have a fraction of the voting rights of the Class A shares.
How to understand Berkshire Hathaway's diverse portfolio?
The best way to understand the diversity is to categorize the companies by industry, as we did in this post. Think of it in segments: insurance, utilities/energy, manufacturing, and retail/services. This helps to see how the different parts of the company work together.
How to know if a company is owned by Berkshire Hathaway?
QuickTip: Reading carefully once is better than rushing twice.
The easiest way is to check the company's "About Us" or "Investor Relations" page, which will often mention its parent company. You can also search online for "[Company Name] owned by Berkshire Hathaway".
How to find out how much of a company Berkshire Hathaway owns?
For publicly traded companies, you can check the Berkshire Hathaway 13F filing. It will list the number of shares and the value of the holding. You can then compare that to the total shares outstanding to calculate the percentage.
How to explain the "Berkshire model"?
The Berkshire model is simple yet powerful: acquire well-run, durable businesses at a fair price and hold them for the long term. Warren Buffett gives the managers of these companies a high degree of autonomy, allowing them to continue their successful operations without interference.
How to invest like Warren Buffett?
Investing like Warren Buffett means focusing on value investing. This involves looking for companies with a strong competitive advantage (a "moat"), a solid management team, and a history of good earnings. The key is to buy at a reasonable price and hold for the long term.
How to find out about new Berkshire Hathaway acquisitions?
New acquisitions are typically announced in press releases from Berkshire Hathaway or the acquired company. Major acquisitions are also reported in financial news media outlets like Reuters, Bloomberg, and the Wall Street Journal.
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