SEC Filing Analysis: Berkshire Money Management, Inc. (13F-HR)

Executive Summary

• Trading Significance: Medium
• Key Takeaway: Berkshire Money Management, Inc. filed its quarterly Form 13F-HR, reporting $971.6 million in assets under management across 48 positions for the period ending September 30, 2025. The portfolio is heavily weighted towards large-cap US index ETFs.
• Market Impact: As a routine quarterly filing from a sub-$1 billion manager with a diversified portfolio of liquid assets, this filing is not expected to have a significant impact on the broader market or individual securities.

Filer Information

Field	Value
Company	Berkshire Money Management, Inc.
CIK	0001535172
Total AUM	$971,598,778
Holdings Count	48

Portfolio Overview

This Form 13F-HR details the institution's long positions as of the end of the third quarter of 2025.

Field	Value
Form Type	13F-HR (Holdings Report)
Period of Report	2025-09-30
Filing Date	2025-10-14

Top 5 Holdings by Value

Issuer	Security Type	Value (USD)
SPDR S&P 500 ETF TR (SPY)	ETF	$227,309,749
SPDR DOW JONES INDL AVERAGE (DIA)	ETF	$93,122,843
INVESCO QQQ TR (QQQ)	ETF	$78,370,792
INNOVATOR ETFS TRUST (US SMALL CAP PWR)	ETF	$63,671,386
VANGUARD SPECIALIZED FUNDS (DIV APP ETF)	ETF	$61,087,743

Market Impact Analysis

Portfolio Concentration

• Direction: Neutral
• Reasoning: The top three holdings (SPY, DIA, QQQ) represent approximately 39.1% of the total portfolio value. This indicates a core investment strategy centered on broad, diversified exposure to the major US indices. The remainder of the portfolio is spread across various other ETFs and a few individual stocks like Apple, Amazon, and NVIDIA, but in smaller allocations.

Sentiment Indicator

• Sentiment Indicator: Neutral / Bullish on US Large-Caps
• Analysis: The significant allocation to S&P 500, Dow Jones, and Nasdaq-100 ETFs suggests a generally constructive long-term view on the US market. The presence of various 'Buffer' and 'Power Buffer' ETFs also indicates a strategy aimed at managing downside risk while participating in market upside.

Investment Insights

Key Takeaways

1. Core-Satellite Strategy: The portfolio structure strongly suggests a core-satellite approach, with major index ETFs forming the stable 'core' and other thematic ETFs (e.g., AI, Robotics) and individual stocks acting as 'satellites'.
2. Risk Management Focus: The significant number of 'Buffer' ETFs from Innovator ETFs Trust highlights a focus on risk-managed equity exposure, seeking to provide investors with upside potential to a cap while buffering against a certain level of losses.
3. Diversified ETF Approach: Beyond simple market indices, the firm utilizes equal-weight ETFs (RSP, QQQE), value ETFs (IVE), and growth ETFs (IWF, VUG), demonstrating a nuanced approach to factor investing within a diversified framework.

Contextual Analysis

Filing Context

This is a mandatory quarterly report required by the SEC for institutional investment managers with over $100 million in qualifying assets. It provides a snapshot of the firm's holdings at the end of the quarter and is a tool for transparency.

Market Conditions

This filing reflects the portfolio's composition at the end of Q3 2025. The strategic allocations should be viewed in the context of the market environment leading up to September 30, 2025. The heavy investment in broad market ETFs is a common strategy for capturing market beta.

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IMPORTANT DISCLAIMER: This analysis is for informational purposes only and is not intended as investment advice. The information presented is based on publicly available SEC filings and should not be construed as a recommendation to buy, sell, or hold any securities. Past performance does not guarantee future results. All investments carry risk, including the potential loss of principal. Please consult with a qualified financial advisor before making any investment decisions.

Analysis generated on 2025-10-14 | Data source: SEC EDGAR