Berkshire Asset Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, and selecting other managers. The firm advises 2 private funds.
Berkshire Asset Management reports 2,479 clients. They include 2,318 high-net-worth individuals, 64 charitable organizations, and 63 pension and profit-sharing plans. Of its assets, 96.3% ($2.68B across 2,462 accounts) are managed with discretion; $104M across 24 accounts are not. A wrap fee program the firm both sponsors and manages holds $876M. It advised 4 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | <1% | <1% |
| High-net-worth individuals | 94% | 85% |
| Investment companies | <1% | <1% |
| Pooled investment vehicles | <1% | 1% |
| Pension and profit-sharing plans | 3% | 3% |
| Other client typesCharitable organizations; Insurance companies; Corporations and other businesses | 4% | 11% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | Fewer than 5 | $1.17M | 0.0% | $293K |
| High-net-worth individuals | 2,318 | $2.36B | 84.7% | $1.02M |
| Investment companies | 1 | $8.69M | 0.3% | $8.69M |
| Pooled investment vehicles | 2 | $28.3M | 1.0% | $14.1M |
| Pension and profit-sharing plans | 63 | $70.2M | 2.5% | $1.11M |
| Charitable organizations | 64 | $206M | 7.4% | $3.22M |
| Insurance companies | Fewer than 5 | $20.8M | 0.7% | $20.8M |
| Corporations and other businesses | 26 | $91.7M | 3.3% | $3.53M |
| Total | 2,479 | $2.79B | 100% | — |
- Clients
- Fewer than 5
- Regulatory AUM
- $1.17M
- AUM share
- 0.0%
- Avg. per client
- $293K
- Clients
- 2,318
- Regulatory AUM
- $2.36B
- AUM share
- 84.7%
- Avg. per client
- $1.02M
- Clients
- 1
- Regulatory AUM
- $8.69M
- AUM share
- 0.3%
- Avg. per client
- $8.69M
- Clients
- 2
- Regulatory AUM
- $28.3M
- AUM share
- 1.0%
- Avg. per client
- $14.1M
- Clients
- 63
- Regulatory AUM
- $70.2M
- AUM share
- 2.5%
- Avg. per client
- $1.11M
- Clients
- 64
- Regulatory AUM
- $206M
- AUM share
- 7.4%
- Avg. per client
- $3.22M
- Clients
- Fewer than 5
- Regulatory AUM
- $20.8M
- AUM share
- 0.7%
- Avg. per client
- $20.8M
- Clients
- 26
- Regulatory AUM
- $91.7M
- AUM share
- 3.3%
- Avg. per client
- $3.53M
Total
- Clients
- 2,479
- Regulatory AUM
- $2.79B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 4
- Private funds advised
- 2
Berkshire Asset Management is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees; its fees and minimums are set out in its brochures on the SEC website.
Kenneth Krogulski owns 25% to 50% of Berkshire Asset Management. The leadership team of Berkshire Asset Management includes President Kenneth Krogulski and Chief Compliance Officer Charles Martin. It has 11 employees, 6 of them in advisory roles.
Leadership
- Kenneth KrogulskiPresident, CEO, CIO and Managing Member
- Gerard MihalickVice President and Member
- Jason ReillyVice President and Class C Member
- Gregory WeaverVice President and Member
- Michael WeaverVice President and Member
- Charles MartinChief Compliance Officer
Investment adviser representatives
7 representatives listed in the SEC register as of 9 October 2026.
- Rachel L Ames
- John Patrick Ginley
- Kenneth John Krogulski
- Gerard Mihalick
- Jason J Reilly
- Gregory Cameron Weaver
- Michael Durkin Weaver
Staff
- 11 employees
- 6 in advisory functions
- 6 state-registered reps
- 1 broker-dealer rep
- Owns 25% to 50% of Berkshire Asset Management, LLC
Kenneth Krogulski
Control person · since July 2007
- Owns 25% to 50% of Berkshire Asset Management, LLC
IM Square Holding 10 LLC
since December 2022
- Owns 75% or more of IM Square Holding 10 LLC
IM Square Partners Holding
Control person · since October 2022
- Owns 75% or more of IM Square Partners Holding
IM Square Sas
Control person · since October 2020
- Owns 50% to 75% of IM Square Sas
Legendre Holding 36
Control person · since June 2015
- Owns 25% to 50% of Berkshire Asset Management, LLC
JC Decaux Holdings
since January 2022
- Owns 10% to 25% of Berkshire Asset Management, LLC
Michael Weaver
since January 2018
- Owns 5% to 10% of Berkshire Asset Management, LLC
Gerard Mihalick
since January 2018
Berkshire Asset Management’s regulatory assets grew 1.6× from $1.75B (March 2021) to $2.79B (March 2026); clients rose from 1,923 to 2,479 and employees from 10 to 11.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $2.79B | 2,479 | 11 | 1 |
| March 2025 | $2.54B | 2,466 | 10 | 1 |
| April 2024 | $2.31B | 2,332 | 10 | 1 |
| March 2023 | $2.13B | 2,279 | 10 | 1 |
| March 2022 | $2.06B | 2,069 | 10 | 1 |
| March 2021 | $1.75B | 1,923 | 10 | 1 |
Besides its headquarters, Berkshire Asset Management has 0 offices, with 1 listed address in Pennsylvania.
Pennsylvania · 1 listed address
- 46 Public Square, Suite 700, Wilkes-BarreHQ
Contact and registration details
- Legal name
- Berkshire Asset Management, LLC
- Headquarters
- 46 Public Square, Suite 700, Wilkes-Barre, PA 18701-2609
- Website
- berkshireasset.com
- Phone
- 570-825-2600
- @berkshire-asset-management
- SEC file
- 801-68485
- Structure
- Pennsylvania LLC
- Fiscal year end
- December
Berkshire Asset Management uses Charles Schwab ($1.66B, 57%) and Wells Fargo Clearing Services ($1.27B, 43%) as custodians for its separately managed accounts. Berkshire Asset Management has custody of $514M in client assets for 194 clients.
The filed custodian amounts total more than regulatory assets under management. Each amount is shown as filed.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $1.66B57%
- Wells Fargo Clearing ServicesWells Fargo Clearing Services, LLC · St. Louis, MO · $1.27B43%
At year end, Berkshire Asset Management’s separately managed accounts were mostly in stocks (89%). Its reported 13F holdings for the quarter ended 30 June 2026 total $2.55B across 270 positions; the largest are JPMORGAN Chase & CO (4.5%), Dell Technologies Inc. (4.4%) and Cisco Sys Inc. (4.0%).
What the accounts hold
- Stocks89%
- Exchange-traded equities79%
- Non-exchange-traded equities10%
- Funds3%
- Bonds6%
- State and local bonds4%
- U.S. government and agency bonds2%
- Cash1%
Filed values cover 99%. The neutral 1% gap has no reported category.
Reported 13F holdings
- $2.55B
- Reported 13F value
- 270
- Positions
- 33.4%
- In the 10 largest
- +9.3%
- Value vs. prior quarter
- JPMORGAN Chase & CO4.5%
- Dell Technologies Inc. · CL C4.4%
- Cisco Sys Inc.4.0%
- Abbvie Inc.3.8%
- Apple Inc.3.2%
- Nucor Corp.3.2%
- Microsoft Corp.2.8%
- Bank OF Amer Corp.2.6%
- Chevron Corporation2.6%
- Johnson & Johnson2.5%
Together, the ten largest are 33.4% of reported value.
How many clients does Berkshire Asset Management have?
Berkshire Asset Management has 2,479 clients and manages $2.79 billion for them, as of March 2026. They include 2,318 high-net-worth individuals, 64 charitable organizations, and 63 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026
What services does Berkshire Asset Management offer?
Berkshire Asset Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Berkshire Asset Management use?
Berkshire Asset Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $1.66B and Wells Fargo Clearing Services, LLC (St. Louis, MO), with $1.27B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026
How many financial advisors does Berkshire Asset Management have?
Berkshire Asset Management has 6 investment adviser representatives registered with state securities authorities, out of 11 employees, and 6 perform investment advisory functions. 1 employee is a registered representative of a broker-dealer and 0 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Berkshire Asset Management invest in?
At the end of its last fiscal year, Berkshire Asset Management’s separately managed accounts held 79% exchange-traded equities, 10% non-exchange-traded equities, 4% state and local bonds, 3% registered funds (mutual funds, ETFs, BDCs), 2% U.S. government and agency bonds and 1% cash and equivalents. It advises 2 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Berkshire Asset Management?
Berkshire Asset Management is owned through a chain of holding companies by Legendre Holding 36. Its direct owners are Kenneth Krogulski, Gerard Mihalick, Michael Weaver, IM Square Holding 10 LLC and JC Decaux Holdings, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026
How does Berkshire Asset Management get paid?
Berkshire Asset Management is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Berkshire Asset Management registered with the SEC?
Yes, Berkshire Asset Management has been registered with the SEC as an investment adviser since 1 July 2007. Its CRD number is 145463 and its SEC file number is 801-68485.
Source: Form ADV Part 1A, Item 1, filed 30 March 2026; IAPD firm record
How do I contact Berkshire Asset Management?
Berkshire Asset Management’s main office is at 46 Public Square, Suite 700, Wilkes-Barre, PA 18701-2609. Its phone number is 570-825-2600. Its website is berkshireasset.com.