A Closer Look At That BRK AAPL - GOOGL Investment -- November 29, 2025

Locator: 49570BRKGOOG. 

All numbers rounded, estimated, dynamic and subject to discussion: 

3Q25:

BRK sold 42 million shares AAPL

• value: $3.2 billion
•  AAPL still largest holding in BRK equity portfolio; represents 20% of it total equity portfolio

BRK bought GOOG. Link here. 

• 17.8 million shares of GOOGL
• priced at about $200 / share
• bottom line: ~ $4 billion 

Market cap: $1.0 trillion 

• $4 billion / $1.0 trillion = 0.4%
• at end of 3Q25: 238.2 million shares of AAPL
• at $275/share = $65 billion
• $65 billion / $1.0 trillion = 6.5% 
•  $65 billion / $275 billion = 25% (in round numbers)

The most interesting data point: 

• equity portfolio: $275 billion
• wholly owned subsidiaries (excludes equity portfolio): $325 billion
• market cap: > $1 trillion

Wholly owned subsidiaries: 

Since Berkshire Hathaway's wholly-owned subsidiaries are not publicly traded, their market value is not explicitly stated and must be estimated through valuation methods

. Some analysts have used a price-to-earnings (P/E) multiple on the operating earnings to arrive at an estimated value. For example, one analysis from February 2024 suggested a value of $320 billion for the operating companies by applying a P/E ratio of 15 to the operating after-tax earnings of $21.3 billion.

The rule that required companies to evaluate their worth at current value, rather than solely on historical costs or future projections, is generally known as

"mark-to-market" (MTM) accounting or "fair value" accounting.

BRK's cash position, 3Q24 vs 3Q25:

• Berkshire Hathaway's (BRK) cash and short-term investments
• increased significantly from $325.2 billion in 3Q 2024 to a record $381.7 billion in 3Q 2025. 
• [($382 - $325)/$325] = 17.5%
• best interest rate most folks might expect this past year: 6%

Suggests that  ---

AI prompt: 

BRK's cash position 3Q24 vs 3Q25Berkshire Hathaway's (BRK) cash and short-term investments increased significantly from $325.2 billion in 3Q 2024 to a record $381.7 billion in 3Q 2025. That represents a 17.5% increase in casy y/y. Best interest rate on cash was in the past year might have been somewhat less than 6% which suggests that BRK continues to raise casy a) through dividends; and, b) selling more shares in the equity portfolio. 

AI reply (Google search):  

 

What might make the BRK money managers look like geniuses? If the US and Venezuela get into a shooting war. Almost nothing else on the (six-month) horizon.

Right now, with regard to Venezeula, the US has simply established a "Cuban-like embargo" which has been in place for decades.  

With regard to taking out boats departing from Venezuela, Bush, Obama and Biden did the "same thing." Exhibit A: Osama bin Laden. Exhibit B: multiple terrorists at all levels in the Mideast.