What to Watch When Berkshire Hathaway Files Its 13F on Monday Roxanna Maglangit Thu, November 12, 2026 at 11:35 AM EST 6 min read BRK-B +0.52% GOOGN +2.02% AAPL +0.06% AXP -0.48% KO +0.64% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Berkshire Hathaway's 13F for the quarter ended Sept. 30 is due Monday, and its last one showed Apple, American Express, Coca-Cola, Alphabet and Bank of America as its five biggest positions.
Its 10-Q shows Berkshire sold slightly more stock than it bought in the third quarter, while it spent $9.6 billion buying back its own shares.
Alphabet, where Berkshire added 45% more shares in the second quarter, is the position to watch after its free cash flow turned negative.
The numbers back the Alphabet bet more than the Apple stake, which trades at about 38x forward earnings for about 6% expected earnings growth in fiscal 2027.
Berkshire Hathaway's next 13F is due Monday, Nov. 16, and it will show what the company held on Sept. 30. The stake I'd check first is Alphabet (GOOGL:NASDAQ), the one top-five position Berkshire added to in its latest filing.
That filing, for the quarter ended June 30 and filed Aug. 14, showed $299.25 billion of US stocks in 29 positions. These were the top five:
Apple (AAPL:NASDAQ): 227.92 million shares worth $65.95 billion, 22.0% of the total, unchanged on the quarter
American Express (AXP:NYSE): 151.61 million shares, $51.28 billion, 17.1%, unchanged
Coca-Cola (KO:NYSE): 400 million shares, $32.51 billion, 10.9%, unchanged
Alphabet: 78.79 million shares, $28.16 billion, 9.4%, after a 45% increase in shares
Bank of America (BAC:NYSE): 483.39 million shares, $27.54 billion, 9.2%, after a 6% cut in shares
In Greg Abel's third quarter as CEO, Berkshire bought $2.4 billion of stocks and sold $2.8 billion, its 10-Q filed Nov. 7 shows. It also spent $9.6 billion buying back its own shares over those three months, four times what it put into other companies' stock. Those totals include holdings a 13F leaves out, such as Berkshire's Japanese trading houses, so we'll only learn which US positions moved when the 13F lands.
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Two stocks Berkshire left alone last quarter have run hardest since: Apple is up 23% from its June 30 price, and Coca-Cola is up 20%. (Those moves run from the quarter-end price to the latest close. They aren't Berkshire's return, since a 13F doesn't show what it paid.)
After a record $114.5 billion September quarter, Apple's consensus target has climbed from $281 to $345 over the past year:
The stock climbed faster, and that average target now sits 3% below the last close. Apple trades at about 38x forward earnings, against a five-year average of 29x on TIKR, while analysts expect normalized EPS to grow about 6% in fiscal 2027. A trim on Monday wouldn't surprise me.
Coca-Cola raised its 2026 earnings outlook again in October, and analysts' consensus target rose from $79 to $98 over the year:
That leaves less than 1% of upside, and at about 28x forward earnings, the stock trades well above its 12-year average of 23x.
American Express is down 4% from its June 30 price. It has slid this year, but analysts' consensus target rose from $351 to $365 over the past year:
The stock fell from $370 to $323 over that stretch, leaving 13% upside to the average target at about 17x forward earnings. Berkshire held every share last quarter, and I see no reason for it to sell at this price.
Berkshire raised its Alphabet stake by 45% in shares last quarter, including $10 billion of the $84.8 billion of new stock Alphabet sold in June to fund its AI build-out.
The stock is down 18% from its June 30 price, and it fell 10% on a $9.1 billion cash burn in the third quarter: capital spending hit $51.4 billion, more than the $42.3 billion its operations brought in. Jim Cramer has since questioned Berkshire's position.
But the business is growing fast: third-quarter revenue rose 25% to $127.6 billion, and Google Cloud's more than doubled to $30.7 billion. Analysts' average target of $400 is 36% above the price, at about 21x forward earnings.
Bank of America, the other top-five stake that moved, is down 11% from its June 30 price. Its third quarter took a $1.2 billion penalty over money-laundering controls, and its return on tangible common equity fell to 12.6%, or 14.9% without the penalty, short of management's 16% to 18% target. Analysts' average target of $62 is 23% above the price, and the stock ended September at 1.84x tangible book, against a 10-year average of 1.59x. Since Berkshire was already selling before the penalty, another trim wouldn't shock me.
Monday's filing shows one day, Sept. 30, so it won't say when Berkshire traded or what it paid. But on analysts' targets, Alphabet and Bank of America have the most room, and Apple and Coca-Cola little or none. I'd read a hold or an add on Alphabet as the right call, at 21x forward earnings for a company whose cloud sales just doubled, and Apple at 38x is the stake I'd trim. The risk is Alphabet's spending: it has told investors to expect a significant increase in capital spending in 2027, so the cash burn could last longer than shareholders would like. The next 13F, for the December quarter, isn't due until mid-February.
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