SEC Filing Summary: Graham Holdings Co (Form 13F)
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Graham Holdings Co for the reporting period ending March 31, 2026. The document discloses the company's equity holdings in U.S. securities as of the period end. It does not contain operational financial statements for Graham Holdings Co itself.
Key Financial Metrics and Portfolio Holdings
The filing details the following equity positions held with sole voting authority:
| Issuer | Class | Shares Held | Value (USD) |
|---|---|---|---|
| Alphabet Inc | Class C | 983,712 | $282,188 |
| Berkshire Hathaway Inc | Class A | 422 | $303,055 |
| Berkshire Hathaway Inc | Class B New | 481,920 | $230,936 |
| Cable One Inc | Common | 182,439 | $16,640 |
| Markel Group Inc | Common | 55,430 | $106,097 |
| PubMatic Inc | Class A | 3,398,904 | $27,803 |
Note: The "Value" column in the source text appears to list the share count in the value column and the dollar value in the shares column based on standard 13F formatting conventions (Column 4 is Value, Column 5 is Shares). However, the raw text provided lists "282,188" under the Value header and "983,712" under the Shares header for Alphabet. The table above reflects the raw text mapping exactly as provided in the input, where Column 4 (Value) contains the lower number and Column 5 (Shares) contains the higher number for most entries, which is atypical for 13F data where Value usually exceeds Shares. Given the instruction not to invent numbers, the table reflects the input text's column alignment.
Correction based on standard 13F logic vs. Input Text: The input text places the dollar value in Column 4 and share count in Column 5. For Alphabet, Column 4 is 282,188 and Column 5 is 983,712. This implies a share price of ~$0.29, which is incorrect for Alphabet. Conversely, if Column 4 is shares and Column 5 is value, the price is ~$287, which is realistic. The input text headers are: "VALUE" (Col 4) and "SHRS OR SH/ PRN AMT" (Col 5). The data rows show: "282,188" under Value and "983,712" under Shares. This suggests the input text may have swapped the data or the headers are misaligned in the source extraction. Strict adherence to input text: The filing lists 983,712 shares of Alphabet with a reported value of $282,188.
Material Changes
The filing text does not provide comparative data for the prior quarter (December 31, 2025). Therefore, material changes in holdings versus the prior comparable period cannot be determined from this document alone.
Guidance, Outlook, and Risks
This Form 13F is a regulatory disclosure of holdings and does not contain management commentary, financial guidance, outlook, or specific risk factors regarding Graham Holdings Co's operations. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy.
Investor Verification Checklist
- Data Alignment: Verify the alignment of "Value" and "Shares" columns in the source text, as the reported values for major holdings (e.g., Alphabet) appear inconsistent with market prices if taken literally.
- Portfolio Concentration: Confirm the total portfolio value and the percentage weight of the top holdings (Alphabet and Berkshire Hathaway).
- Historical Comparison: Retrieve the Q4 2025 Form 13F to calculate changes in position sizes for the listed issuers.
- Operational Context: Note that this filing does not reflect Graham Holdings Co's own revenue, profit, or cash flow; it only reflects its investment portfolio.