Hikari Tsushin, Inc.

Hikari Tsushin, Inc. (CIK 0001423673, AUM $1.45B, WhaleScore 75.50, 78 holdings) filed March 31, 2026 with a portfolio anchored by an extreme single-name concentration: Berkshire Hathaway Class A (BRK/A) at $809M and 1,127 shares represents 55.8% of the entire book — the most dominant single-name holding in any processed filer this round, and one of the most concentrated BRK/A allocations in the institutional dataset. BRK/A was reduced from $851M (1,127 shares) to $809M (same 1,127 shares, value shifted with BRK/A price) — share count unchanged, value decline from BRK price movement. The second and third holdings (GOOGL 11.0%, down -3.8% to $159M; BKLN senior loan ETF 3.5%; VISA 2.1%; JNJ 1.97%; HYG high-yield bond 1.88%; VOO S&P 500 1.87%; FTSL senior loan 1.76%; ABBV 1.57%; ZTS 1.53%) form a diversified second layer. The quarter's most notable trade was a -$20.9M GOOGL reduction — shares dropped from 576K to 554K (-3.8%), continuing a macro tech-trim theme observed across multiple filers in this batch (Lombard Odier also reduced GOOGL). VOO (Vanguard S&P 500) fell -$9.1M / -21.4% from 57,755 to 45,415 shares — a meaningful shift from the Vanguard core toward IVV or alternative core vehicles. ISRG (Intuitive Surgical) and VRSN (Verisign) were both sold in Dec 2025 and re-opened in March 2026 — a tax-loss harvest and re-buy pattern: ISRG opened at $7.0M (15,185 shares), probably at a lower price than the Dec exit; VRSN opened at $1.47M (5,901 shares). New positions also included MDLZ (Mondelez, $1.2M) and MRK (Merck, $1.1M) — both consumer/healthcare dividend-payers consistent with BRK-style quality tilts. Sold: PPLT (platinum ETF), NVO (Novo Nordisk), former ISRG/VRSN positions. AUM declined from $1.535B to $1.45B (-$85M, -5.5%), primarily driven by BRK/A price movement. Honest read: a concentrated value manager with a dominant BRK/A book that dwarfs all other positions — the register is a 55/45 split between a massive single-name value bet and a diversified quality/income second layer trimmed for tax and macro positioning. The GOOGL trim and ISRG/VRSN flip are active-management decisions; the VOO reduction is a vehicle preference shift. For smart-money purposes, Hikari Tsushin's register is primarily a BRK/A sentiment indicator: any large-scale shift in this position would be the most institutionally significant single-name sale in the dataset.