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Manager Skill Review · Live example

BERKSHIRE HATHAWAY INC

Explore the reported holdings and ERM3 decomposition of this investment book. The residual is the return remaining after the model's specified market, sector and subsector exposures. It does not establish predictive manager skill.

Modeled AUM
$287.6B
Holdings
28
Top-10 weight
91%

Modeled AUM is the sum of disclosed long US equity positions that join the ERM3 universe — not firm-wide AUM. 13F books omit shorts, most derivatives, and non-US holdings.

Evidence
13F · disclosed-long analysis
Holdings as of
2026-06-30
Filed
2026-08-14
Model
ERM3 v3.0

Form 13F discloses long US positions only, on a delayed filing schedule; short positions and most derivatives are not reported.

Selection signature
Exposure-driven

17% of BERKSHIRE HATHAWAY INC's risk is stock-specific over the full monthly history of the reported 13F book — the structural read. Stock selection added 37% of the trailing return (which swings with the window). The rest is buyable market, sector, and style exposure — a descriptive read, not a recommendation.

Risk decomposition
76%
17%
MarketSectorSubsectorStyle tiltResidual risk

At a glance

Selection signature
17% of risk
Exposure-driven
Replicable exposure
83%
Mostly buyable
Mandate style
Large Blend
Multi-style
Concentration
eff. N 8.0
Concentrated
Peer rank · Mega tier
#42 / 540

Return attribution

AIBERKSHIRE HATHAWAY INC's +17.3% trailing-year return was led by market beta (+14.6% market); stock selection contributed +6.3%.

LayerDetail1M3M6M1Y
Gross returntotal realized-0.3%+7.2%+5.3%+17.3%
− Marketbroad-market beta-0.4%+8.1%+5.1%+14.6%
− Sectorsector timing+1.4%-5.1%-2.2%

2 · Stock-selection residual

Residual return is the component remaining after the specified model exposures. It depends on the model and selected period and does not establish future outperformance.

Stock-selection return+6.3%trailing, gross — residual after market / sector / subsector
Residual risk share30%stock-specific share of monthly portfolio variance · trailing 12 months
Return from selection37%of gross return this window

Gross, holdings-derived model outputs. Fees, implementation and unobserved positions can affect actual strategy outcomes.

4 · Mandate fit

Dominant style
Large Blend
Style concentration (HHI)
0.42
Effective styles
2.4
Effective N (positions)
8.0

5 · Peer context

#42 / 540

In the Mega AUM cohort by aum erm3 (1m).

90% of reported AUM is in the ERM3 model universe; attribution and residual shares cover that sleeve.

Run this on your managers

This is a live example. Send us a roster — 13F managers or your own holdings sleeves — and we'll return a Manager Skill Review and a board-ready IC memo for each. Print or PDF this page for the memo format.

For allocators →Request a pilot →

Live data from SEC Form 13F via the RiskModels ERM3 model, filed 2026-08-14. Figures are gross, holdings-derived, and within-mandate. Informational use only — not investment advice.

Local-First Data Policy — Your holdings are resolved locally against our Security Master. Data never leaves your machine.

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Manager SkillAllocatorsExamplesAccessAnalyst
Checking session...

Manager Skill Review · Live example

BERKSHIRE HATHAWAY INC

Explore the reported holdings and ERM3 decomposition of this investment book. The residual is the return remaining after the model's specified market, sector and subsector exposures. It does not establish predictive manager skill.

Modeled AUM
$287.6B
Holdings
28
Top-10 weight
91%

Modeled AUM is the sum of disclosed long US equity positions that join the ERM3 universe — not firm-wide AUM. 13F books omit shorts, most derivatives, and non-US holdings.

Evidence
13F · disclosed-long analysis
Holdings as of
2026-06-30
Filed
2026-08-14
Model
ERM3 v3.0

Form 13F discloses long US positions only, on a delayed filing schedule; short positions and most derivatives are not reported.

Selection signature
Exposure-driven

17% of BERKSHIRE HATHAWAY INC's risk is stock-specific over the full monthly history of the reported 13F book — the structural read. Stock selection added 37% of the trailing return (which swings with the window). The rest is buyable market, sector, and style exposure — a descriptive read, not a recommendation.

Risk decomposition
76%
17%
MarketSectorSubsectorStyle tiltResidual risk

At a glance

Selection signature
17% of risk
Exposure-driven
Replicable exposure
83%
Mostly buyable
Mandate style
Large Blend
Multi-style
Concentration
eff. N 8.0
Concentrated
Peer rank · Mega tier
#42 / 540

Return attribution

AIBERKSHIRE HATHAWAY INC's +17.3% trailing-year return was led by market beta (+14.6% market); stock selection contributed +6.3%.

LayerDetail1M3M6M1Y
Gross returntotal realized-0.3%+7.2%+5.3%+17.3%
− Marketbroad-market beta-0.4%+8.1%+5.1%+14.6%
− Sectorsector timing+1.4%-5.1%-2.2%

2 · Stock-selection residual

Residual return is the component remaining after the specified model exposures. It depends on the model and selected period and does not establish future outperformance.

Stock-selection return+6.3%trailing, gross — residual after market / sector / subsector
Residual risk share30%stock-specific share of monthly portfolio variance · trailing 12 months
Return from selection37%of gross return this window

Gross, holdings-derived model outputs. Fees, implementation and unobserved positions can affect actual strategy outcomes.

4 · Mandate fit

Dominant style
Large Blend
Style concentration (HHI)
0.42
Effective styles
2.4
Effective N (positions)
8.0

5 · Peer context

#42 / 540

In the Mega AUM cohort by aum erm3 (1m).

90% of reported AUM is in the ERM3 model universe; attribution and residual shares cover that sleeve.

Run this on your managers

This is a live example. Send us a roster — 13F managers or your own holdings sleeves — and we'll return a Manager Skill Review and a board-ready IC memo for each. Print or PDF this page for the memo format.

For allocators →Request a pilot →

Live data from SEC Form 13F via the RiskModels ERM3 model, filed 2026-08-14. Figures are gross, holdings-derived, and within-mandate. Informational use only — not investment advice.

Local-First Data Policy — Your holdings are resolved locally against our Security Master. Data never leaves your machine.

The Engine
  • Developers
  • API
  • SDK
  • CLI
The Science
  • What's inside
  • Artifact gallery
  • Methodology wiki ↗
  • Glossary
  • ERM3 overview
  • SEC Filing Calendar
  • 13F Filers
-4.3%
− Subsectorindustry timing-0.0%-0.2%-0.1%+0.7%
= Buyable exposurereplicable in ETFs+1.0%+2.8%+2.9%+11.0%
Stock selection (residual return)after the specified market/sector/subsector exposures-1.6%+4.3%+2.5%+6.3%

Risk attribution

AI17% of the book's risk is stock-specific; the rest is broad-market (76%) and sector exposure.

LayerDetailFullRecent
− Marketbroad-market beta76%34%
− Sectorsector exposure6%35%
− Subsectorindustry exposure1%0%
= Buyable exposurereplicable83%70%
Residual risk sharestock-specific share of variance — where selection can show up17%30%
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© 2026 RiskModels · Blue Water Macro Corp.|System Status:Operational|Holdings-based.

Informational use only — not investment advice. Blue Water Macro Corp.

-4.3%
− Subsectorindustry timing-0.0%-0.2%-0.1%+0.7%
= Buyable exposurereplicable in ETFs+1.0%+2.8%+2.9%+11.0%
Stock selection (residual return)after the specified market/sector/subsector exposures-1.6%+4.3%+2.5%+6.3%

Risk attribution

AI17% of the book's risk is stock-specific; the rest is broad-market (76%) and sector exposure.

LayerDetailFullRecent
− Marketbroad-market beta76%34%
− Sectorsector exposure6%35%
− Subsectorindustry exposure1%0%
= Buyable exposurereplicable83%70%
Residual risk sharestock-specific share of variance — where selection can show up17%30%
Stock Risk Profiles
Infrastructure
  • Access
  • Developer pricing
  • About
  • Support
  • FAQ
  • Privacy
  • Terms
RiskModelsResearch/Workspace/API

© 2026 RiskModels · Blue Water Macro Corp.|System Status:Operational|Holdings-based.

Informational use only — not investment advice. Blue Water Macro Corp.