Letters and positions

23 letters by 10 managers whose 13F filings are tracked, naming 21 listed companies. Beside each company, the manager’s reported position in the quarter ending on or before the letter and in the quarter after it.

Shown because the letter names the company. A letter is commentary; it is not a record of why a position changed.

Manager

All Berkshire Hathaway Inc Elliott Investment Management LP GAMCO Investors Inc Jana Partners Markel Group Inc Pershing Square Capital Management LP Sachem Head Capital Management LP Starboard Value LP Third Point LLC Trian Fund Management LP

Role

All Subject of the letter Mentioned The writer’s own company

Pershing Square Capital Management LP

Pershing Square USA's first letter to shareholders, after its 2026 IPO21 Aug 2026 · Investor letter
- PSUS Pershing Square USA · The writer’s own company
  The 13F Explorer has no record for PSUS, so no position is stated.

GAMCO Investors Inc

The Gabelli Equity Trust's 2025 letter to stockholders, on a broadening market9 Mar 2026 · Investor letter
- GAB The Gabelli Equity Trust · The writer’s own company
  The 13F Explorer has no record for GAB, so no position is stated.

Berkshire Hathaway Inc

Berkshire Hathaway's 2025 letter to shareholders, Greg Abel's first as CEO28 Feb 2026 · Shareholder letter
- BRK-A Berkshire Hathaway · The writer’s own company
  The 13F Explorer has no record for BRK-A, so no position is stated.
Berkshire Hathaway's 2011 letter to shareholders25 Feb 2012 · Shareholder letter
- BRK-A Berkshire Hathaway Inc. · The writer’s own company
  The 13F Explorer has no record for BRK-A, so no position is stated.
Berkshire Hathaway's 2008 letter to shareholders27 Feb 2009 · Shareholder letter
- BRK-A Berkshire Hathaway · The writer’s own company
  The 13F Explorer has no record for BRK-A, so no position is stated.
Berkshire Hathaway's 2005 letter to shareholders28 Feb 2006 · Shareholder letter
- BRK-A Berkshire Hathaway Inc. · The writer’s own company
  The 13F Explorer has no record for BRK-A, so no position is stated.

Markel Group Inc

Markel Group's 2025 letter to shareholders26 Feb 2026 · Shareholder letter
- MKL Markel Group · The writer’s own company
  Before the letter
  31 Dec 2025 (Q4 2025 13F): not among Markel Group Inc’s listed positions. A holding below the listed range, under another security, or none at all would read the same.
  After the letter
  31 Mar 2026 (Q1 2026 13F): not among Markel Group Inc’s listed positions. A holding below the listed range, under another security, or none at all would read the same.
Markel Group's 2023 letter to business partners6 Mar 2024 · Shareholder letter
- MKL Markel Group Inc. · The writer’s own company
  Before the letter
  31 Dec 2023 (Q4 2023 13F): not among Markel Group Inc’s listed positions. A holding below the listed range, under another security, or none at all would read the same.
  After the letter
  31 Mar 2024 (Q1 2024 13F): not among Markel Group Inc’s listed positions. A holding below the listed range, under another security, or none at all would read the same.

How to read this

A letter appears here only when its record names the company. The before figure is the manager’s 13F at the last quarter end on or before the letter’s date; the after figure is the next quarter end. A 13F shows the long US-listed equity book at a quarter end, filed up to 45 days later, and large books are listed to their largest positions. A company that is not among a manager’s listed positions may still be held below that range, through another security, or not at all: the filing cannot say which.

Every letter in the catalogue →Back to the 13F Explorer →

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Illustrative figures. Default values are plausible starting points chosen so a model has somewhere to begin. They are not data, not a view on any company, and not calibrated to anything. Outputs move with whatever you type in.

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