BRK-B vs GHC: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: GHC is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. BRK-B and GHC share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined BRK-B and GHC exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Berkshire Hathaway is a diversified holding company that owns a wide range of businesses outright and holds a large portfolio of public stocks. Its foundation is insurance: GEICO, Berkshire Hathaway Reinsurance, and other insurers generate underwriting profit and, more importantly, float (premiums held before claims are paid) that Berkshire invests. In Q1 2026 insurance underwriting income rose to about $1.72 billion from $1.34 billion a year earlier, and Q2 2026 underwriting income was about $1.73 billion. Insurance float stood at about $177.5 billion at June 30, 2026. Beyond insurance, Berkshire owns the BNSF railroad, Berkshire Hathaway Energy, and consumer and industrial businesses such as Duracell, Dairy Queen, See's Candies, and Precision Castparts, alongside a stock portfolio historically anchored by names like Apple and American Express. Under Abel the operating group has kept growing by acquisition: Berkshire completed its purchase of OxyChem on January 2, 2026 and closed the $8.5 billion acquisition of homebuilder Taylor Morrison on July 24, 2026.

Full BRK-B guide

Graham Holdings Company (NYSE: GHC) is a diversified holding company headquartered in Arlington, Virginia. Its largest division is education, run through Kaplan, which provides higher education services (including the Purdue Global relationship), professional test prep and supplemental and international education. Beyond Kaplan, Graham owns Graham Media Group (a group of local television stations), CSI Pharmacy in home-infusion healthcare, a manufacturing group of industrial businesses, automotive dealerships, and a collection of Other Businesses that includes brands like Slate, Foreign Policy, Framebridge, Clyde's Restaurant Group and several digital and marketing properties. It also holds a substantial portfolio of marketable securities and equity-method stakes.

Full GHC guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• BRK-B drivers: Leadership transition to Greg Abel; Insurance float and underwriting.
• GHC drivers: Education (Kaplan) as the core engine; Healthcare (CSI Pharmacy) expansion.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The central 2026 risk is the leadership transition itself, now complete at the top with Buffett as chairman emeritus: Buffett's judgment and reputation were core to Berkshire's edge, and the market will test whether Greg Abel can allocate capital as effectively, especially with a record cash pile to deploy. For GHC, reported earnings are lumpy because they include unrealized gains and losses on the equity portfolio and periodic impairment charges, which can obscure underlying operating trends.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick BRK-B if you believe its drivers more; GHC if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the BRK-B and GHC guides.

BRK-B. Figures are approximate and tied to mid-October 2026; verify live numbers before acting. Because accounting rules force Berkshire to mark its large stock portfolio to market each quarter, GAAP net income is noisy: the trailing P/E of about 13 is flattered by investment gains, while the forward multiple of about 24 is based on operating earnings alone. The cash balance means a meaningful part of the market cap is cash awaiting deployment, and the resumption of buybacks in 2026 suggests management sees the shares as reasonably priced. Third-quarter results are expected around November 7, 2026.

GHC. Graham trades at a market value roughly in line with its trailing revenue (about 1 times sales) and about 1.1 times book value, consistent with its conglomerate, sum-of-the-parts profile rather than a high-growth multiple. Headline EPS is distorted by mark-to-market movements on its investment portfolio and one-off items, which is why the trailing P/E near 10 sits far below the forward P/E near 18. The very small share count (roughly 4.2 million shares implied by price and market cap) means per-share figures and buybacks carry outsized weight.

Headline figures (approximate, October 2026): BRK-B shows operating earnings (q2 2026) ~$12.98 billion, up ~16% from ~$11.16 billion; first half ~$24.3 billion, net earnings (q2 2026) ~$25.7 billion, including ~$12.7 billion of investment gains from equity marks, revenue (ttm) ~$385 billion; Q2 2026 revenue up ~10% year over year, insurance float ~$177.5 billion at June 30, 2026; GHC shows revenue (ttm) ~$5.1B; Q2 2026 ~$1.30B (up ~7% YoY), q2 2026 eps (adjusted) ~$19.46 vs ~$14.83 estimate, net income (ttm) ~$540M (~$124 per share, includes portfolio gains), margins (ttm) ~30% gross, ~20% operating (per Yahoo), ~11% net.

BRK-B and GHC are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined BRK-B and GHC exposure against your real portfolio. It is not an investment adviser.