Who's rolling T-bills? Berkshire Hathaway's Treasury bill pile vs Big Tech's Treasuries
Public filing data, updated when new 10-Qs and 10-Ks land on SEC EDGAR. Berkshire Hathaway is the only large U.S. company that reports Treasury bills as their own balance-sheet line. Other large cash holders report U.S. Treasury securities of all maturities, shown separately below.
Berkshire Hathaway: short-term investments in U.S. Treasury bills
Quarter-end balance-sheet line “Short-term investments in U.S. Treasury Bills” (41 filings, Dec 31, 2015 to Sep 30, 2026). Peak: $339.3B at Mar 31, 2026. Q1–Q3 2016 are missing because those 10-Qs didn't break T-bills out. Orange line: Federal Reserve T-bill holdings on the last Wednesday of each quarter.
| Quarter end | T-bills (balance sheet) | + T-bills in cash equivalents | Change vs prior quarter | Fed T-bill holdings | Marketable bills outstanding | Berkshire Hathaway share | Filing |
|---|---|---|---|---|---|---|---|
| Q3 2026 Sep 30, 2026 | $336.7B | +$7.1B | +3.6% | $560.2B | $7.12T | 4.73% | 10-Q |
| Q2 2026 Jun 30, 2026 | $324.9B | +$3.2B | -4.2% | $486.0B | $6.69T | 4.86% | 10-Q |
| Q1 2026 Mar 31, 2026 | $339.3B | +$19.7B | +5.5% | $381.6B | $6.82T | 4.97% | 10-Q |
| Q4 2025 Dec 31, 2025 | $321.4B | +$17.6B | +5.3% | $233.6B | $6.55T | 4.91% | 10-K |
| Q3 2025 Sep 30, 2025 | $305.4B | +$38.4B | +25.4% | $195.5B | $6.40T | 4.77% | 10-Q |
| Q2 2025 Jun 30, 2025 | $243.6B | +$67.0B | -20.3% | $195.4B | $5.78T | 4.21% | 10-Q |
| Q1 2025 Mar 31, 2025 | $305.5B | +$8.6B | +6.6% | $195.3B | $6.16T | 4.96% | 10-Q |
| Q4 2024 Dec 31, 2024 | $286.5B | +$14.4B | -0.5% | $195.3B | $6.19T | 4.63% | 10-K |
| Q3 2024 Sep 30, 2024 | $288.0B | +$3.6B | +22.8% | $195.3B | $6.00T | 4.80% | 10-Q |
| Q2 2024 Jun 30, 2024 | $234.6B | +$4.1B | +52.9% | $195.3B | $5.77T | 4.07% | 10-Q |
| Q1 2024 Mar 31, 2024 | $153.4B | +$4.0B | +18.4% | $199.2B | $6.06T | 2.53% | 10-Q |
| Q4 2023 Dec 31, 2023 | $129.6B | +$4.8B | +2.5% | $222.4B | $5.68T | 2.28% | 10-K |
| Q3 2023 Sep 30, 2023 | $126.4B | — | +29.9% | $244.1B | $5.26T | 2.40% | 10-Q |
| Q2 2023 Jun 30, 2023 | $97.3B | — | -6.3% | $271.8B | $4.47T | 2.18% | 10-Q |
| Q1 2023 Mar 31, 2023 | $103.9B | — | +12.0% | $281.8B | $4.07T | 2.55% | 10-Q |
| Q4 2022 Dec 31, 2022 | $92.8B | +$2.6B | +21.5% | $291.2B | $3.70T | 2.51% | 10-K |
| Q3 2022 Sep 30, 2022 | $76.3B | — | +2.0% | $312.7B | $3.64T | 2.09% | 10-Q |
| Q2 2022 Jun 30, 2022 | $74.8B | — | +11.4% | $326.0B | $3.52T | 2.12% | 10-Q |
| Q1 2022 Mar 31, 2022 | $67.1B | — | +14.7% | $326.0B | $3.93T | 1.71% | 10-Q |
| Q4 2021 Dec 31, 2021 | $58.5B | — | -26.1% | $326.0B | $3.77T | 1.55% | 10-K |
| Q3 2021 Sep 30, 2021 | $79.2B | — | -22.2% | $326.0B | $3.71T | 2.13% | 10-Q |
| Q2 2021 Jun 30, 2021 | $101.8B | — | +19.2% | $326.0B | $4.28T | 2.38% | 10-Q |
| Q1 2021 Mar 31, 2021 | $85.4B | — | -5.4% | $326.0B | $4.67T | 1.83% | 10-Q |
| Q4 2020 Dec 31, 2020 | $90.3B | — | -24.1% | $326.0B | $4.96T | 1.82% | 10-K |
| Q3 2020 Sep 30, 2020 | $118.9B | — | +7.6% | $326.0B | $5.03T | 2.36% | 10-Q |
| Q2 2020 Jun 30, 2020 | $110.5B | — | +16.8% | $326.0B | $5.08T | 2.18% | 10-Q |
| Q1 2020 Mar 31, 2020 | $94.6B | — | +48.3% | $326.0B | $2.66T | 3.56% | 10-Q |
| Q4 2019 Dec 31, 2019 | $63.8B | — | +19.6% | $169.5B | $2.42T | 2.64% | 10-K |
| Q3 2019 Sep 30, 2019 | $53.4B | — | -31.3% | $6.0B | $2.38T | 2.25% | 10-Q |
| Q2 2019 Jun 30, 2019 | $77.7B | — | -11.7% | $0.0B | $2.25T | 3.45% | 10-Q |
| Q1 2019 Mar 31, 2019 | $88.0B | — | +8.0% | $0.0B | $2.48T | 3.55% | 10-Q |
| Q4 2018 Dec 31, 2018 | $81.5B | — | +31.0% | $0.0B | $2.34T | 3.48% | 10-K |
| Q3 2018 Sep 30, 2018 | $62.2B | — | +33.7% | $0.1B | $2.24T | 2.78% | 10-Q |
| Q2 2018 Jun 30, 2018 | $46.5B | — | -8.2% | $0.0B | $2.16T | 2.16% | 10-Q |
| Q1 2018 Mar 31, 2018 | $50.7B | — | -39.9% | $0.0B | $2.29T | 2.21% | 10-Q |
| Q4 2017 Dec 31, 2017 | $84.4B | — | +26.7% | $0.0B | $1.96T | 4.31% | 10-K |
| Q3 2017 Sep 30, 2017 | $66.6B | — | -9.2% | $0.0B | $1.80T | 3.70% | 10-Q |
| Q2 2017 Jun 30, 2017 | $73.3B | — | +4.0% | $0.0B | $1.72T | 4.27% | 10-Q |
| Q1 2017 Mar 31, 2017 | $70.5B | — | +20.9% | $0.0B | $1.76T | 4.01% | 10-Q |
| Q4 2016 Dec 31, 2016 | $58.3B | — | — | $0.0B | $1.82T | 3.21% | 10-K |
| Q4 2015 Dec 31, 2015 | $4.6B | — | — | $0.0B | $1.51T | 0.30% | 10-K |
2016–Q3 2018 figures add the two segments Berkshire Hathaway reported separately then (Insurance and Other, and Finance and Financial Products). The share column uses the balance-sheet figure, which Berkshire Hathaway carries at amortized cost, against the face value of bills outstanding, so it is approximate. Fed: FRED WSHOBL (Federal Reserve H.4.1, Wednesday level). Bills outstanding: Treasury Monthly Statement of the Public Debt, marketable bills, month end.
Other big corporate holders: U.S. Treasury securities (all maturities)
Not T-bills. These companies report Treasuries of every maturity, mostly as available-for-sale securities at fair value; Apple's, for example, are largely longer-dated notes. Each row has its own fiscal quarter end.
| Company | U.S. Treasury securities (all maturities) | Scope as filed / components | As of | Change | Filing |
|---|---|---|---|---|---|
| Nvidia NVDA | $45.3B | U.S. Treasury securities cash equivalents $12.3B, marketable $33.0B | Jul 26, 2026 | first quarter recorded | 10-Q |
| Microsoft MSFT | $41.1B | U.S. Treasury securities (filed as U.S. government securities) cash equivalents $1.1B, short term $31.4B, long term $8.6B | Sep 30, 2026 | first quarter recorded | 10-Q |
| Meta Platforms META | $40.5B | U.S. government securities (agencies excluded) marketable $40.3B, cash equivalents $0.3B | Sep 30, 2026 | first quarter recorded | 10-Q |
| Apple AAPL | $18.9B | U.S. Treasury securities cash equivalents $0.0B, current $4.8B, non current $14.1B | Sep 26, 2026 | -6.2% vs Jun 27, 2026 | 10-K |
| Tesla TSLA | $8.8B | U.S. government securities short term $8.8B | Sep 30, 2026 | first quarter recorded | 10-Q |
| Amazon * AMZN | $7.6B | U.S. government and agency securities, combined available for sale $7.6B | Sep 30, 2026 | first quarter recorded | 10-Q |
| Palantir PLTR | $6.8B | U.S. Treasury securities marketable $6.8B | Sep 30, 2026 | -11.0% vs Jun 30, 2026 | 10-Q |
* Amazon reports U.S. government and agency securities as one combined figure, so it is not Treasury-only.
Methodology
- T-bills vs Treasuries. Treasury bills mature in a year or less and are sold at a discount at weekly auctions; holders “roll” them by buying new bills as old ones mature. Notes and bonds pay coupons and run 2 to 30 years. Only Berkshire Hathaway reports bills by themselves. For everyone else we show “U.S. Treasury securities”, which can include long-dated notes.
- Source. Every number comes from the XBRL data in the company's 10-Q or 10-K on SEC EDGAR: Berkshire Hathaway's extension tag
brka:USTreasuryBills(segment members summed), T-bills in cash equivalents fromus-gaap:CashEquivalentsAtCarryingValue(per its footnote, available from 2022), and for the others the U.S. Treasury (or U.S. government, excluding agencies) member of their investment tables, summed across cash equivalents, short-term and long-term investments and checked against the reported total. - Excluded. Alphabet reports “government bonds” that mix U.S. and foreign issuers, so it isn't comparable. Johnson & Johnson, Cisco, Broadcom, Visa, Salesforce, Adobe and Qualcomm hold too little or report mixed U.S. government and agency figures. Oracle, Exxon Mobil, Chevron, Booking and Netflix don't break out Treasuries.
- Updates. The pipeline checks EDGAR at most once a day on site refresh days and adds a quarter only when the components sum to the total. A move of more than 60% from the prior quarter is held for manual review, and on any error the previous data stays up. Berkshire Hathaway usually files in the first week of February, May, August and November.
- This page reports public filings. It is not investment advice and not a recommendation to buy or sell any security.
What T-bills pay you, after state tax
You can buy the same bills at the same weekly auctions. T-bill interest is exempt from state and local income tax (31 U.S.C. § 3124), so a fully taxable savings account or CD has to pay more to match it.
| Bill | Latest auction yield | Date | After state tax | Taxable rate needed to match (state tax only) |
|---|
Federal tax applies to both equally and is left out here. For your bracket, amount and term, use the after-tax yield calculator; to plan auction dates, see the T-bill ladder planner.
Download the data
- berkshire_hathaway_tbills_quarterly.csv: every quarter above, with segment split, T-bills in cash equivalents, Fed holdings, bills outstanding, share, and the accession number and link for each filing.
- corporate_treasury_holdings.csv: every quarter recorded for the other companies, with components and filing links.
Free to reuse with credit under our data license; SEC and Treasury source data are U.S. government works.