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Diversified holding companies

The 36 companies in this industry listed on the NYSE and Nasdaq are worth $1.2 tn combined; the largest are Berkshire Hathaway (BRK-B), ORIX CORP (IX) and Loews Corporation (L). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Clear leader
36 companies value 1.2 tn revenue 477 bn margin 19.1% free cash flow 38 bn avg. score 2.3
BRK-B holds 93.2% of the group's value, 27.8x the runner-up
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 BRK-B Berkshire Hathaway
United States · score 5.2
 93% 1.1 tn 385 bn 22.3% 24 bn 2.1% — Conglomerate of insurance, railroad, energy and industry · Warren Buffett's conglomerate; insurance + railroad + energy + a stock portfolio
2 IX ORIX CORP
Japan · score 6.4
 3% 41 bn 21 bn 13.4% 8.7 bn 21.1% 2.6% Diversified financial services from Japan · Japan — assets of $114bn
3 L Loews Corporation
United States · score 6.1
 2% 23 bn 19 bn 9.0% 1.8 bn 7.8% 0.2% Holding company for CNA insurance, hotels and pipelines · Tisch family holding company: CNA insurance, hotels and pipelines; buying back shares for decades
4 GHC Graham Holdings Co
United States · score 5.8
 0% 5.1 bn 5.1 bn 10.7% 0.3 bn 4.8% — Diversified holding: education, TV, industry, healthcare and dealerships · Virginia — assets of $8.1bn
5 IEP Icahn Enterprises
United States · score 0.0
 0% 4.6 bn 11 bn -5.0% -0.2 bn -5.3% 1.7% Diversified holding company in energy, automotive and food · Carl Icahn's holding company: energy, automotive and real estate, with a very high yield
6 HHH Howard Hughes Holdings Inc.
United States · score 5.2
 0% 4.0 bn 2.4 bn 12.3% 0.7 bn 18.6% — Holding with master planned communities, income properties and a specialty insurer acquired in 2026 · Texas — assets of $15.9bn
7 BH Biglari Holdings Inc.
United States · score 2.4
 0% 1.0 bn 0.4 bn -7.3% 0.1 bn 4.8% — Holding company in insurance, licensing, restaurants and oil · Texas — assets of $1.1bn
8 RHLD Resolute Holdings Management, Inc.
United States · score 2.9
 0% 0.9 bn 1.1 bn 4.2% 0.1 bn 9.4% — Management of industrial businesses under its own operating system · New York — assets of $6.1bn
9 CODI Compass Diversified Holdings
United States · score 1.7
 0% 0.8 bn 1.8 bn -5.3% 0.1 bn 10.5% — Acquiring and managing controlling stakes in companies · Connecticut — assets of $2.8bn
10 CNNE Cannae Holdings, Inc.
United States · score 0.8
 0% 0.7 bn 0.4 bn -41.1% -0.0 bn -6.3% 4.1% Holding company of long-term controlling stakes · Nevada — assets of $1.3bn
11 TIPT TIPTREE INC.
United States · score 7.6
 0% 0.6 bn 0.0 bn 68969x 0.2 bn 35.3% 1.5% Holding that sold its insurance operation in May 2026 and agreed to buy another insurer for US$ 100 mn · Connecticut — assets of $1.1bn
12 TMS Teamshares Inc
United States · score 4.6
 0% 0.4 bn 0.5 bn 0.8% 0.0 bn — 5.2% — Buying and running small businesses with employee ownership · New York — assets of $616m
13 ACTG ACACIA RESEARCH CORP
United States · score 3.4
 0% 0.4 bn 0.3 bn -5.4% 0.0 bn 7.4% — Acquiring and running businesses in industry, energy and technology · New York — assets of $792m
14 BOC BOSTON OMAHA Corp
United States · score 0.2
 0% 0.4 bn 0.1 bn -11.4% -0.0 bn -1.7% — Billboards, broadband, surety insurance and asset management · Nebraska — assets of $683m
15 KWY KINGSWAY Corp
United States · score 0.6
 0% 0.3 bn 0.1 bn 0.0% 0.0 bn 1.0% 0.3% Holding that buys and operates service businesses, such as plumbing and extended warranties · Illinois — assets of $228m
16 AIAI AIAI Holdings Corp
United States · score 1.2
 0% 0.2 bn — — 0.0 bn — -1.3% — Acquiring companies onto a standardized technology base · Texas — assets of $1.3bn
17 RILY BRC Group Holdings, Inc.
United States · score 1.5
 0% 0.1 bn 1.1 bn 35.9% -0.0 bn -10.7% — Diversified holding company: financial services, telecom and retail · California — assets of $2bn
18 LGL LGL GROUP INC
United States · score 2.8
 0% 0.1 bn 0.0 bn -5.0% 0.0 bn 0.0% — Holding company in services, investments and industry · Florida — assets of $50m
19 LIVE LIVE VENTURES Inc
United States · score 6.6
 0% 0.0 bn 0.4 bn 1.0% 0.0 bn 60.6% — Diversified holding acquiring middle-market companies · Nevada — assets of $386m
20 STRR Star Equity Holdings, Inc.
United States · score 0.2
 0% 0.0 bn 0.2 bn -4.3% -0.0 bn -38.7% — Diversified holding company: construction, services, energy and investments · Connecticut — assets of $108m
21 AMTD AMTD IDEA GROUP
France · score 4.9
 0% 0.0 bn 0.1 bn 66.4% 0.0 bn 21x — Financial and digital media services, from Hong Kong · France — assets of $2.3bn
22 DSS DSS, INC.
United States · score 0.0
 0% 0.0 bn 0.0 bn -148.4% -0.0 bn -189.5% — Diversified holding company in packaging, biotech and real estate · New York — assets of $68m
23 RMCO Royalty Management Holding Corp
United States · score 0.9
 0% 0.0 bn 0.0 bn -14.5% 0.0 bn -0.4% — Buying royalties and income-producing assets · Indiana — assets of $17m
24 ONFO Onfolio Holdings, Inc
United States · score 0.0
 0% 0.0 bn 0.0 bn -101.9% 0.0 bn -129.9% 37.4% Acquiring and building online businesses · Delaware — assets of $8m
25 VHC VirnetX Holding Corp
United States · score 0.0
 0% 0.0 bn 0.0 bn -174x -0.0 bn -38.4% — Internet communication security software and patents · Nevada — assets of $23m
26 NTIP NETWORK-1 TECHNOLOGIES, INC.
United States · score 1.1
 0% 0.0 bn 0.0 bn -18x 0.0 bn -4.6% 6.5% Licensing of Internet of Things and eSIM patents · Connecticut — assets of $38m
27 INV Innventure, Inc.
United States · score 0.0
 0% 0.0 bn 0.0 bn -30x -0.1 bn -373.5% — Conglomerate that founds and runs sustainable technology companies · Florida — assets of $575m
28 AEI Alset Inc.
United States · score 0.0
 0% 0.0 bn 0.0 bn -951.4% -0.0 bn -36.7% — Diversified holding company: real estate, finance, technology and consumer · Maryland — assets of $125m
29 REFR RESEARCH FRONTIERS INC
United States · score 0.0
 0% 0.0 bn 0.0 bn -344.0% 0.0 bn -8.6% — Licensing of light-control smart glass technology · New York — assets of $2m
30 ELAB PMGC Holdings Inc.
United States · score 0.0
 0% 0.0 bn 0.0 bn -23x -0.0 bn -376.1% — Holding of small manufacturers, with CNC machining and aerospace operations, built through acquisitions · California — assets of $37m
31 BBUC Brookfield Business Partners L.P.
United States · score 5.6
 — — 27 bn 1.1% 2.7 bn — — Brookfield holding company: car batteries (Clarios), car dealership software (CDK) and other businesses · United States — assets of $78.8bn
32 GPUS Hyperscale Data, Inc.
United States · score 0.3
 — — 0.1 bn -71.0% -0.1 bn — — Holding company operating through subsidiaries · Nevada — assets of $360m
33 MAAS Maase Inc.
China · score 3.4
 — — 0.1 bn -25.1% 0.0 bn — — China-based holding: financial services, health and wellness, and AI computing · China — assets of $494m
34 AIIO ROBO.AI INC.
United Arab Emirates · score 1.0
 — — 0.1 bn -213.6% -0.0 bn — — AI, robotics and manufacturing holding that incubates businesses, former electric vehicle maker · United Arab Emirates — assets of $127m
35 DXF Eason Technology Ltd
China · score 1.0
 — — 0.0 bn -90.9% 0.0 bn — — Real estate and digital technology in China, formerly microlending (loans suspended since 2019) · China — assets of $13m
36 HLSQ BiomX Inc.
United States · score 1.0
 — — — — -0.0 bn — — Israeli defense and security technology holding, former bacteriophage biotech · Delaware — assets of $28m

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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