Greg Abel’s Next 13F Lands November 16, and 1 Question About Berkshire Hathaway’s $299 Billion Portfolio Looms Larger Than Any Other
Berkshire's June quarter showed one big active move while Apple and the old-guard core sat still. As Greg Abel's first year closes, the next 13F will reveal whether that single bet was a one-off or the start of something bigger.
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Berkshire Hathaway (NYSE:BRK-B | BRK-B Price Prediction) will file its next 13F on November 16, 2026. That filing will show holdings as of September 30, 2026. The 45-day deadline lands on Saturday, November 14, so the filing moves to the next business day. It will also round out the first year of Greg Abel’s leadership. Abel took over as CEO from Warren Buffett at the start of 2026, according to a November 3, 2026 Benzinga report. Berkshire’s 13F filer record still lists Buffett as the principal.
The latest 13F covers positions as of June 30, 2026 and was filed on August 14, 2026. It reported a stock portfolio worth $299.3 billion. That number only counts Berkshire’s US-listed long stock positions, leaving out the wholly owned businesses like GEICO and BNSF, private stakes, and cash. In its first-quarter report, Berkshire put its cash at a record $380B. Because 13F positions come out about 45 days after the quarter ends, they may have changed since.
A few large, long-held names dominate the book, and below we pair each position with our price target. Keep in mind the two use different dates. The target are current as of publication, while the positions are as of the end of June, and Berkshire owning a stock doesn’t confirm the model, nor does the model confirm Berkshire.
Apple Still Tops the Book, With No Shares Traded
At the end of June, Berkshire reported 227,917,808 Apple (NASDAQ:AAPL) shares worth $65.95 billion. That made up 22.0% of Berkshire’s reported portfolio and about 1.56% of the company. Apple sells iPhones, Macs, wearables and subscription services. Berkshire held its share count unchanged during the quarter. Apple shows up in all 18 quarters on file, which fits Berkshire’s long-standing taste for consumer brands with pricing power.
An implied P/E of 37 puts Apple at a rich multiple. Our model projects 13.3% upside, with a confidence score of 0.7. Its base price is $376.04, compared with a current price of $331.90. Analysts are less upbeat. Their consensus target is $332.39, and the ratings break down as 6 strong buy, 18 buy, 13 hold, 3 sell and 3 strong sell. The model projects room to run that the Street mostly doesn’t.
American Express Holds the No. 2 Spot
Berkshire reported 151,610,700 American Express (NYSE:AXP) shares worth $51.28 billion, or 17.1% of the book. American Express runs a card network and also issues cards, mostly to well-off consumers and businesses, and the filing data didn’t flag any share change for the quarter. The stake also appears in all 18 quarters on file. That’s a sign of how much Berkshire values a premium brand that earns fees.
American Express trades at 17 times forward earnings. Our model shows 13.56% upside at 0.9 confidence, with a base price of $369.65 against a current price of $325.50. The consensus target of $365.79 is close to the model’s number. Most analysts rate it a hold: 5 strong buy, 9 buy, 15 hold, 0 sell and 0 strong sell.
Coca-Cola: Nearly a Tenth of the Company
Berkshire reported 400,000,000 Coca-Cola (NYSE:KO) shares worth $32.51 billion. That was 10.9% of the book and about 9.3% of the company. Coca-Cola owns drink brands and sells concentrate to bottlers around the world. No share change was flagged. The stock’s low beta of 0.27 helps explain why it fits a patient owner.
That steadiness is expensive: Coca-Cola trades at 30 times forward earnings. Our model shows 15.33% upside at 0.9 confidence, with a base price of $110.56 against a current price of $95.86. Analysts mostly like the stock, with 7 strong buy, 13 buy, 4 hold, 0 sell and 1 strong sell ratings. But their $97.75 consensus target is only slightly above the current price, well below where the model lands.
Alphabet: The Buildup Worth Watching on November 16
This holding appears as two separate filing lines. But it’s one company, so we count it as one holding. Berkshire reported 78,791,167 Class A shares of Alphabet (NASDAQ:GOOGL), worth $28.16 billion or 9.4% of the book. It also reported 27,188,433 Class C shares worth $9.61 billion. The Class A shares alone are worth more than Berkshire’s next-largest stake. Alphabet owns Google Search, YouTube and Google Cloud.
This is where the June quarter’s action happened. Berkshire added 24,541,369 Class A shares and 23,603,218 Class C shares, its biggest active move of the quarter. Class A has been in the portfolio for only 4 quarters on file and Class C for 2. That makes Alphabet the newest of the top five, and the clearest sign of how the portfolio is changing under Abel. The November 16 filing will show whether Berkshire kept adding Alphabet shares in the September quarter, held them flat, or sold some.
The stock changes hands at 20 times forward earnings, though the model’s inputs flag a significant drop in earnings from a year ago. Our model shows 58.39% upside at 0.9 confidence. Its base price is $457.65, with an optimistic case of $512.95 and a conservative case of $393.26, compared with a current price of $288.93. Analysts are strongly positive, with 10 strong buy, 43 buy, 5 hold, 0 sell and 0 strong sell ratings. Still, their consensus target of $400.37 is well below the model’s base case.
Bank of America: Trimmed but Still Top Five
Berkshire reported 483,394,015 Bank of America shares worth $27.54 billion, or 9.2% of the book. Bank of America is one of the largest US consumer and commercial banks. Berkshire cut 30,230,150 shares during the quarter. The stake has been on file for all 18 quarters, and the data alone doesn’t explain why Berkshire sold some.
The bank trades at 10 times forward earnings. Our model shows 14.21% upside at 0.9 confidence, with a base price of $58.97 against a current price of $51.63. This time the Street is more bullish than the model. The consensus target is $62.48, with 6 strong buy, 16 buy, 3 hold, 0 sell and 0 strong sell ratings.
What the Top Five Says About Berkshire’s Approach Under Abel
The book is concentrated. Apple, American Express and Coca-Cola each made up a double-digit share of the disclosed value. Alphabet and Bank of America each came close to 10%. Four of the five fall into two areas Berkshire has preferred for decades, financial services and consumer brands. Those same four have been held through all 18 quarters on file, which points to holding periods measured in years.
Under Abel, the June quarter shows changes at the edges while the core stayed put. Apple shares didn’t move. Alphabet rose, Bank of America got smaller, and Berkshire fully exited Constellation Brands by selling its last 632,890 shares. That’s one quarter of data, which is too little to define a new style.
What to Look for When the Next 13F Lands
This book shows how a patient, concentrated investor builds positions slowly, without trading in and out. It serves as research context for readers. On November 16, look first at the share counts for both Alphabet classes. After that, check whether Apple stayed flat, whether the Bank of America cutting continued, and whether any new positions appeared. Then compare those disclosed share moves with what the company says in its own reports.
13F disclosures look back, price target are projections rather than guarantees, and nothing here should be taken as investment advice.
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