Buffett-inspired research for long-term investors
Every fortnight Replicly sweeps every US-listed company, runs Buffett’s and Graham’s tests, reads the annual reports of what survives and researches the best in full. Then it fits the list to how much you invest. Every number is sourced, so you can check it.
10-year Treasury
5.2%
as of 19 Oct 2026
Buffett indicator
255%
as of 30 Jun 2026
Berkshire's 13F portfolio
$299.3B
as of 30 Jun 2026
Largest holding
AAPL · 22%
The part everyone misses
In the 1950s Buffett hunted small, ignored bargains. Today Berkshire can only buy giants. He said himself that small money can go where big money can't. Copying Berkshire's portfolio copies its constraints. It doesn't copy the thinking.
Replicly matches you to the era whose constraints look like yours, then applies the same principles with the right margin of safety.
How the lens worksIf you're investing
£100k
Partnership Buffett · 1956–1969
Bargains in places big money can't go, bought with a wide margin of safety.
Small capital, a wide hunting ground. Graham-style bargains in small and overlooked companies, special situations, and deep margins of safety. Concentrated when conviction was high.
Illustrative research settings for a profile type. They aren't advice. Thresholds are our reading of Buffett's record.
How it works
The search, done for you
Every two weeks we sweep about six thousand US filers through Buffett's and Graham's documented screens, then read the survivors' annual reports before choosing what to research.
Straight from the filings
Ten years of numbers from the SEC's XBRL data and the narrative sections of the latest 10-K. Nothing scraped from opinion sites.
The maths is code, not chat
Owner earnings, returns on capital, debt payback and a discounted-cash valuation, computed the same way every time and shown in full.
No black boxes
Here are the measurable Buffett tests for Coca Cola Co, computed live from its filings. A full analysis adds the judgement calls and the strongest case against.
Not sure what a test means? Each one links to the letter it comes from on the methodology page.
Demonstrated, consistent earning power
No loss years across 15 years of filings, with operating margin varying by 2.9% around its average.
High returns on equity without leverage
Return on equity averaged 38%, reaching 15% in 9 of the years measured; the weakest year was 6.2%.
Pricing
Free
See how the method works on the companies you care about.
£0forever
Pro
For investors who research properly and keep their theses current.
£29/month
Max
Deeper research, more coverage, and programmatic access.
£79/month
Prices in GBP and include VAT where applicable. Cancel any time.
No. It's research and education. It applies Buffett's documented principles to a company, values it under stated assumptions and adjusts the lens to your situation, but it never tells you to buy or sell. That decision stays yours.
No. We have no connection with either. We use his public shareholder letters and interviews as a method, and we cite them so you can read the originals.
Financial statements come from the SEC's XBRL filings, narrative from the latest annual report, interest rates from the US Treasury and market data from the Federal Reserve. Prices come from free end-of-day sources and can be delayed or missing; we say so when they are.
Claude reads the filing and judges the things a spreadsheet can't: the moat, management, predictability and the strongest case against. It isn't allowed to write numbers. Figures are computed in code and every qualitative claim has to quote the filing.
Judgement with receipts
Claude reads the filing for moat, management and risks. Every claim quotes the 10-K, and it has to argue the case against too.
Adjusted to you
How much you invest, how much time you have and how you handle a fall change which Buffett you learn from and the margin you need.
After-tax return on invested capital averaged 15% over 10 years and was 17% in the latest year.
Total debt of $45.4B would take 4.0 yrs of normalised owner earnings to repay; operating income covers interest 8.3×. Payback decided this: 4 to 7 years is mixed (interest cover alone would be a pass).
Owner earnings, not reported earnings
Normalised owner earnings are $11.3B, and free cash flow has averaged 122% of reported profit.
A business that doesn't eat capital
Capital spending has averaged 1.4× depreciation; estimated maintenance capex was $1.9B last year.
Each dollar retained over the period has been matched by 20× of market value created ($11.3B retained in total).
The diluted share count has changed by -0.1% a year. Shrinking means buybacks are returning value; growing means owners are being diluted.
At $93.42, the price is above the base-case value of $44.97 (the bear case is $22.59), so there is no margin of safety (-108%). The standard lens asks for 25%.
The owner-earnings yield is 2.8% against a 10-year Treasury yield of 5.2%.
Any US-listed company that files with the SEC, which covers over 6,000 names. UK-listed coverage is next once we've licensed reliable data for it. You can hold US shares in an ISA or SIPP.
Not today. You can import holdings from a CSV to see your portfolio through the Buffett lens. Read-only broker connections are coming to Max. Placing trades is deliberately out of scope.
Yes. Manage or cancel from your account in two clicks. You keep paid features until the end of the period.