AI Overview
As of late 2025/early 2026, Warren Buffett's Berkshire Hathaway holds a record, unprecedented amount of cash and cash equivalents, exceeding $381 billion, which represents approximately 31% to over 50% of its investment portfolio depending on whether total assets or just equity investments are considered. This massive "war chest" is primarily held in U.S. Treasury bills.
Key Cash Position Facts:
- Record High: The cash pile hit a record $381.7 billion as of Q3 2025.
- Percentage of Portfolio: Various reports suggest this cash represents roughly 31% or significantly more of the company’s investment portfolio, due to reducing stock holdings in companies like Apple and Bank of America.
- Strategy: Buffett is holding this cash because he deems most stock valuations too high, preferring to wait for "fat pitches" (investments with high potential return).
- Context: The cash reserve is so large that it exceeds the value of many large publicly traded companies and represents a defensive posture.
Berkshire has not repurchased many shares of its own stock, signalling that even its own valuation is not cheap enough to warrant spending its cash reserves.
