13F filing
Form 13F is a quarterly disclosure the SEC requires from institutional investment managers overseeing more than $100 million: a list of their U.S.-listed equity holdings, with share counts and market values at quarter end. It’s how the public gets to see what Berkshire Hathaway — or any large fund — actually owns.
Its limits matter as much as its contents. A 13F is a delayed snapshot: managers may file up to 45 days after the quarter closes, so the portfolio you’re reading is what was held weeks ago, not today. It covers U.S.-listed positions only — no wholly-owned businesses, and most foreign-listed stakes are absent. And it shows holdings, not reasoning: the form tells you what, never why.
How the Moat Index uses 13F data
Our Berkshire page takes Berkshire Hathaway’s latest 13F exactly as filed with SEC EDGAR — aggregated across its reporting managers, since GEICO and other subsidiaries file jointly — and joins each covered holding to the model that fits it. Operating companies carry the Moat Score; covered banks and insurers carry a clearly marked financial-sector score. Values and share counts stay as filed, the two score scales are never compared or averaged, and unmapped or insufficient-data holdings remain explicit gaps. None of it is a signal to copy — it’s a reading exercise: seeing a famous portfolio through transparent quality lenses.