Berkshire Hathaway Owns More Treasury Bills Than the Federal Reserve
Warren Buffett’s Berkshire Hathaway Inc. (BRK.A, BRK.B) is the single largest private holder of U.S. Treasury bills, surpassing even the Federal Reserve’s own holdings. As of the end of the third quarter of 2025, Berkshire controlled about $360 billion in Treasury bills, while the Fed’s holdings had dropped to around $195 billion.
This shift reveals much about Buffett’s take on today’s investment climate.
What Are Treasury Bills and Why Do They Matter?
Treasury bills (T-bills) are short-term debt securities issued by the U.S. government, with maturities ranging from four weeks to one year. They pay no periodic interest but are sold at a discount, with the investor receiving the full face value at maturity—the…
