Subject: Re: Greg's letter
Does that mean "about 6%" of the "$297.8 billion equity securities portfolio," in which case he's still managing only around $18 billion; or 6% of the larger portfolio of investments that includes cash, cash equivalents, and bonds; or something even greater including wholly owned businesses?

Page K-55 of the annual report says, "At December 31, 2025, our insurance and other businesses held cash, cash equivalents and U.S. Treasury Bills (net of payables for unsettled purchases) of $369.0 billion. Investments in equity and fixed maturity securities, excluding our equity method investments, were $315.6 billion."

Six percent of the total of those two numbers would be around $41 billion. But of the latter alone, around $19 billion. I'm inclined to assume Weschler is responsible for the latter.