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Latest · Berkshire Hathaway
Greg Abel's first quarter: where does intrinsic actually land?
The most complete public-market SOTP we publish: $390B+ cash, 42 equity positions, four operating empires, and a Bear/Base/Bull preset system so you can toggle between conservative and Bloomstran-style methodologies. Includes float credit, deferred-tax recognition, and Class A/Class B output.
~$420
Base SOTP / B-share
$503
Current BRK.B
Q1 '26
Data vintage
Headline numbers (Q1 2026)
Operating earnings $11.35B (+18% YoY)
Cash & T-bills $390.8B
Book value $337/B-share
Buybacks resumed March 2026
Cash & T-bills $390.8B
Book value $337/B-share
Buybacks resumed March 2026
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Interactive SOTP for every name we cover
NASDAQ: RILY
BRC Group Holdings (B. Riley)
Diversified financial services. Holding company with 31% of Babcock & Wilcox plus 7 operating segments and ~$1.3B of senior debt. Trades at deep discount to liquidation value. Corporate cap-gains tax modeling, debt face↔market slider, preferred arrears.
NYSE: BRK.A / BRK.B
Berkshire Hathaway
Greg Abel's first quarter. $390B+ cash & T-bills, 42 public equity positions, operating empire of GEICO + BNSF + BHE + manufacturing/service/retail. Bear/Base/Bull presets, float credit, deferred-tax recognition slider.
NYSE: MKL
Markel Group ("Baby Berkshire")
Tom Gayner's "Baby Berkshire." Insurance underwriting (93% combined ratio Q1'26) + $11.9B 13F portfolio (post-massive Q1 trim of BRK / GOOG / HD / BN) + Markel Ventures (Industrial / Financial / Consumer). Bear/Base/Bull presets.
TSX: FFH / OTC: FRFHF
Fairfax Financial Holdings ("Canadian Berkshire")
Prem Watsa's holdco — insurance underwriting at 94% CR, $40B+ investment portfolio, but only ~$2B is US-listed (13F). Most value sits in non-US holdings (Eurobank, Fairfax India, Recipe, Quess, Atlas/Poseidon) modeled as a separate associates block.
STO: INVE-A / OTC: IVSXF
Investor AB (Wallenberg family)
Sweden's quietest dynastic holdco. Listed core stakes in ABB, AstraZeneca, Atlas Copco, EQT, Ericsson, Saab, Wärtsilä, Nasdaq + unlisted "Patricia Industries" (Mölnlycke, Permobil, Piab, Vectura). Self-disclosed NAV SEK 367/share Q1'26. Cleanest European NAV-of-stakes setup.
AMS: EXO / OTC: EXXRF
Exor N.V. ("European Berkshire" — Agnelli)
Ferrari 21% (trimmed from 24%), Stellantis 15.5%, CNH 26.9%, Philips 19%, Juventus 100%, plus Lifenet, Institut Mérieux, GEDI. €4B liquidity for deployment. Historic holdco discount 25–40%.
NYSE: BOC
Boston Omaha ("young Berkshire")
Alex Rozek (Buffett's grandnephew) + Adam Peterson. Billboards (Link Media) + surety insurance (General Indemnity) + fiber broadband (AireBeam/UBB) + asset mgmt + Sky Harbour stake. Tilson intrinsic ~$22. Q1'26 due May 14.
NYSE: CNNE
Cannae Holdings (Bill Foley)
Sold Dun & Bradstreet for $630M in 2025, used proceeds to retire 28% of shares. Remaining: Alight (public) + Black Knight Football Club (private — Bournemouth + Auckland + Lorient + Hibernian + Lommel) + AmeriLife + smaller PE. Historic NAV discount 30-40%.
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NASDAQ: IAC
IAC Inc. (Barry Diller)
Holds ~14% of MGM Resorts (public), all of Dotdash Meredith (People, Better Homes, InStyle), Care.com, Turo stake, Vimeo stake, plus net cash. Classic Diller spin-and-stack holdco.
NYSE: L
Loews Corp (Tisch family)
~92% of CNA Financial (publicly listed insurer) + 100% of Boardwalk Pipelines + Loews Hotels + Altium Packaging. Persistent NAV discount; Tisch buyback playbook.
LSXMA / FWONA / BATRA / LLYVA
Liberty Media tracking-stock complex
Four Malone tracking stocks — Liberty Sirius XM, Liberty Formula One, Atlanta Braves Holdings, Liberty Live. Inter-company loans + attribution swaps = the gold standard of "complicated."
AMS: EXO / OTC: EXXRF
Exor N.V. ("European Berkshire" — Agnelli)
Controls ~24% of Ferrari (RACE), ~15% of Stellantis (STLA), 26% of CNH, 15% of Philips, 100% of Juventus, plus growing healthcare bets. Holdco discount historically 25–40%.
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