Does total market cap account for ETFs, mutual funds, and companies that own shares of other companies?

I read that the total market cap is around $110T.

Here is a simple example:
AAPL has a market cap of 2.8T
BRK.B has market cap of .8T

BRK.B consists of 6% AAPL.

So, is the total market cap adjusted for that?

Context: My curiosity for this question is in wondering how much of the stock market “value” is just from companies that buy and sell shares of other companies.