BRK-B · 10-Q · 2026Q1 · Full report
Float and Cash Holdings
BERKSHIRE HATHAWAY INC · 2026-05-04 · Importance 61 · Surprise 32 · From source text
Berkshire reports very large liquidity and a strong capital base with shareholders' equity of $727.2 billion at March 31, 2026, up $9.8 billion since December 31, 2025. At March 31, 2026, insurance and other businesses held $373.5 billion of cash, cash equivalents and U.S. Treasury Bills (net of unsettled purchase payables), and investments in equity and fixed maturity securities (excl. equity method) were $305.7 billion. The company maintains a stock repurchase policy but will not repurchase shares if consolidated cash, cash equivalents and U.S. Treasury Bills would fall below $30 billion and states financial strength and redundant liquidity remain paramount. Berkshire acquired relatively minor amounts of treasury stock in Q1 2026.
Key facts
- Cash, cash equivalents and U.S. Treasury Bills in insurance businesses: $236,779 million at March 31, 2026 and $212,651 million at December 31, 2025; includes unsettled purchases of U.S. Treasury Bills of $11.3 billion at March 31, 2026. source
- Equity securities held by insurance businesses: $284,965 million at March 31, 2026 and $294,144 million at December 31, 2025. source
- Float was approximately $176.9 billion at March 31, 2026, an increase of approximately $500 million from December 31, 2025. source
- At March 31, 2026, insurance and other businesses held investments in cash, cash equivalents and U.S. Treasury Bills (net of payables for unsettled purchases) of $373.5 billion. source
- Investments in equity and fixed maturity securities, excluding our equity method investments, were $305.7 billion at March 31, 2026. source
- Fixed maturity securities held by insurance businesses: $17,386 million carrying value at March 31, 2026 and $17,466 million at December 31, 2025. source
- Fixed maturity investments amortized cost for foreign governments was $12,385 million and carrying value $12,385 million as of March 31, 2026. source
- Berkshire’s shareholders’ equity at March 31, 2026 was $727.2 billion, an increase of $9.8 billion since December 31, 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | +1.9% | Cash, cash equivalents and U.S. Treasury Bills in insurance businesses: $236,779 million at March 31, 2026 and $212,651 million at… |
| assets | negative | realized | -0.7% | Equity securities held by insurance businesses: $284,965 million at March 31, 2026 and $294,144 million at December 31, 2025. |
| liability | negative | realized | -0.0% | Float was approximately $176.9 billion at March 31, 2026, an increase of approximately $500 million from December 31, 2025. |