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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
$299.3B
Holdings
29
Top-10 weight
88%

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

13% 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 39% 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
80%
13%
MarketSectorSubsectorStyle tiltResidual risk

At a glance

Selection signature
13% of risk
Exposure-driven
Replicable exposure
87%
Mostly buyable
Mandate style
Large Blend
Multi-style
Concentration
eff. N 8.6
Concentrated
Peer rank · Mega tier
#43 / 755

Return attribution

AIBERKSHIRE HATHAWAY INC's +17.4% trailing-year return was led by market beta (+13.5% market); stock selection contributed +6.8%.

LayerDetail1M3M6M1Y
Gross returntotal realized+0.1%+7.1%+5.5%+17.4%
− Marketbroad-market beta-0.6%+7.3%+4.4%+13.5%
− Sectorsector timing+1.4%-4.6%-1.5%

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+6.8%trailing, gross — residual after market / sector / subsector
Residual risk share28%stock-specific share of monthly portfolio variance · trailing 12 months
Return from selection39%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)
0.40
Effective styles
2.5
Effective N (positions)
8.6

5 · Peer context

#43 / 755

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.

Data handling — Linked brokerage holdings are stored encrypted and used only to provide your RiskModels analytics and reports. We do not sell your data. Privacy Policy

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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
$299.3B
Holdings
29
Top-10 weight
88%

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

13% 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 39% 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
80%
13%
MarketSectorSubsectorStyle tiltResidual risk

At a glance

Selection signature
13% of risk
Exposure-driven
Replicable exposure
87%
Mostly buyable
Mandate style
Large Blend
Multi-style
Concentration
eff. N 8.6
Concentrated
Peer rank · Mega tier
#43 / 755

Return attribution

AIBERKSHIRE HATHAWAY INC's +17.4% trailing-year return was led by market beta (+13.5% market); stock selection contributed +6.8%.

LayerDetail1M3M6M1Y
Gross returntotal realized+0.1%+7.1%+5.5%+17.4%
− Marketbroad-market beta-0.6%+7.3%+4.4%+13.5%
− Sectorsector timing+1.4%-4.6%-1.5%

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+6.8%trailing, gross — residual after market / sector / subsector
Residual risk share28%stock-specific share of monthly portfolio variance · trailing 12 months
Return from selection39%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)
0.40
Effective styles
2.5
Effective N (positions)
8.6

5 · Peer context

#43 / 755

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.

Data handling — Linked brokerage holdings are stored encrypted and used only to provide your RiskModels analytics and reports. We do not sell your data. Privacy Policy

The Engine
  • Developers
  • API
  • SDK
  • CLI
The Science
  • What's inside
  • Artifact gallery
  • Methodology wiki ↗
  • Glossary
  • ERM3 overview
  • SEC Filing Calendar
  • 13F Filers
-3.7%
− Subsectorindustry timing+0.3%+0.0%+0.1%+0.6%
= Buyable exposurereplicable in ETFs+1.2%+2.8%+3.0%+10.4%
Stock selection (residual return)after the specified market/sector/subsector exposures-1.2%+4.5%+2.4%+6.8%

Risk attribution

AI13% of the book's risk is stock-specific; the rest is broad-market (80%) and sector exposure.

LayerDetailFullRecent
− Marketbroad-market beta80%29%
− Sectorsector exposure6%41%
− Subsectorindustry exposure1%1%
= Buyable exposurereplicable86%71%
Residual risk sharestock-specific share of variance — where selection can show up13%28%
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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.

    -3.7%
    − Subsectorindustry timing+0.3%+0.0%+0.1%+0.6%
    = Buyable exposurereplicable in ETFs+1.2%+2.8%+3.0%+10.4%
    Stock selection (residual return)after the specified market/sector/subsector exposures-1.2%+4.5%+2.4%+6.8%

    Risk attribution

    AI13% of the book's risk is stock-specific; the rest is broad-market (80%) and sector exposure.

    LayerDetailFullRecent
    − Marketbroad-market beta80%29%
    − Sectorsector exposure6%41%
    − Subsectorindustry exposure1%1%
    = Buyable exposurereplicable86%71%
    Residual risk sharestock-specific share of variance — where selection can show up13%28%
  • 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.