However, Berkshire's 13F only tells part of the story of what's under the hood. In 1998, Berkshire Hathaway announced it would acquire reinsurance company General Re in an all-stock deal worth $22 billion. Though the reinsurance operations were the catalyst for this deal, General Re also owned a specialty investment firm known as New England Asset Management (NEAM). When the deal finalized in late 1998, Berkshire Hathaway became NEAM's new owner. As of the closing bell on Sept. 30, NEAM had $642 million in assets under management that was invested across 120 securities (stocks, warrants, and exchanged-traded funds). Even though the Oracle of Omaha doesn't manage NEAM's investments the way he does for Berkshire Hathaway's 44-stock, $293 billion portfolio, what NEAM owns is, by definition, also owned by Buffett's company.