You probably think of Warren Buffett when you hear the name Berkshire Hathaway. Most people do. They picture an old office in Omaha, a cherry Coke on a desk, and a guy who picks stocks better than anyone in history. But as of January 2026, the story has shifted. Warren has officially stepped back, handing the keys to Greg Abel, and the massive empire of berkshire hathaway owned companies is entering a weird, new era.
It isn't just a portfolio. It's a country.
If Berkshire were its own nation, its "citizens" would be the people making your bricks, flying your private jets, and insuring your 2012 Honda Civic. The scale is almost hard to wrap your head around. Honestly, you probably interact with a Berkshire-owned brand three times before you even finish your morning coffee.
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The "Big Four" and Why They Rule the Roost
People love to talk about the sexy tech stocks, but the bedrock of Berkshire is actually pretty boring. That’s by design. Greg Abel took over a $300 billion+ portfolio that basically runs on "stuff humans can't live without."
- GEICO: You know the gecko. But did you know GEICO is the engine that provides "float"—the extra cash Berkshire uses to buy other companies? It’s a massive insurance machine.
- BNSF Railway: Burlington Northern Santa Fe. It’s one of the largest freight railroads in North America. If you bought something today, there is a very high chance it spent time on a BNSF train.
- Berkshire Hathaway Energy (BHE): This is Abel’s old stomping ground. It’s a beast. It controls PacifiCorp, MidAmerican Energy, and NV Energy. They aren't just "utilities"; they are the literal grid for millions of people.
- Apple (The Stock): Okay, so they don't own Apple, but they own so much of it that it might as well be a subsidiary. Interestingly, they’ve been trimming this position lately, selling off millions of shares in 2025 to pile up a cash mountain that would make Scrooge McDuck jealous.
The Companies You Didn't Know Were Berkshire Hathaway Owned Companies
This is where it gets fun. Most folks are shocked when they realize how many "normal" brands are actually under the Omaha umbrella.
Take Dairy Queen. It feels like a small-town staple, right? Nope. It’s a Berkshire company. So is See’s Candies. Buffett famously loves the cash flow from See’s because it doesn't require much "re-investment." People just keep buying chocolate.
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Then there’s Duracell. They bought the battery giant from Procter & Gamble years ago in a complex deal involving stock swaps. If you have a TV remote, you’re likely a Berkshire customer.
- Fruit of the Loom: Your underwear? Probably Berkshire.
- Benjamin Moore: The paint on your walls? Yep.
- Clayton Homes: The largest builder of manufactured housing in the U.S.
- NetJets: For when you're too rich for first class but not rich enough to own the whole plane.
The 2026 Strategy: What Greg Abel is Doing Differently
Now that Abel is at the helm, the vibe is changing. The "Oracle of Omaha" era was about "value investing" and holding forever. While that core DNA is still there, we’re seeing a shift toward infrastructure and energy.
The company is sitting on a record-breaking pile of cash—well over $160 billion at the last count. Why? Because they think the market is too expensive. They are waiting for a crash or a "fat pitch."
One thing most people get wrong is thinking Berkshire is just a "stock picking" company. It's not. It's an operations company. They buy businesses that have a "moat"—something that makes them impossible to kill. Like McLane Company. You’ve never heard of them? They are one of the biggest supply chain distributors in the world, moving food and supplies to every 7-Eleven and Walmart you've ever walked into.
Is the "Buffett Premium" Dead?
Skeptics say that without Warren, the stock (BRK.A and BRK.B) won't have the same magic. But look at the numbers. The berkshire hathaway owned companies are mostly "toll bridge" businesses. You have to pay them to live your life. You need electricity (BHE), you need insurance (GEICO/Gen Re), and you need to move goods (BNSF).
It’s a defensive fortress.
The biggest risk isn't the leadership; it's the size. When you're this big, it's hard to find a company large enough to move the needle. Buying a $5 billion company is basically a rounding error for them now. They need "elephants."
Actionable Steps for Investors and Observers
If you’re looking to understand the "Berkshire way" or thinking about buying the stock in this post-Buffett world, here is how to look at it:
- Watch the Cash Pile: If the cash keeps growing, it means Abel and the team (including Todd Combs and Ted Weschler) think the market is overpriced. Don't fight them on that.
- Look at the "Float": The real secret is the insurance companies. As long as GEICO and National Indemnity are generating low-cost cash, Berkshire can keep buying.
- Diversification is a Lie: Berkshire doesn't diversify for the sake of it. They "concentrate" on winners. They own 100% of many businesses because they want total control of the cash flow.
- Check the 13F Filings: Every quarter, they have to tell the SEC what stocks they bought. This is where you see their secret moves into things like Chubb or Occidental Petroleum.
Berkshire Hathaway isn't just a company; it's a collection of the most resilient businesses in America. Whether it’s the shoes on your feet (Brooks) or the jewelry you bought your spouse (Helzberg Diamonds), the reach of this empire is basically inescapable.
To stay ahead, keep an eye on the annual letters. Even without Warren's folksy wisdom, the financial data from these subsidiaries tells the real story of the global economy. If BNSF trains are full, the economy is humming. If people are switching to cheaper car insurance, things are getting tight.
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Focus on the earnings of the private subsidiaries rather than the swings in the stock portfolio. That is where the true value lives.