Berkshire Hathaway was a net seller of equities, with $10.4 billion in net sales during Q1 2025 alone. The latest 13F filing shows Apple remains the top holding at 22.0% despite reductions. Warren Buffett stepped down as CEO at the end of 2025, leaving the portfolio under new management. The portfolio still tilts heavily toward consumer tech and financials.
The Latest 13F Tells a Story of Concentration and Trimming
The latest 13F filing dated 2026-05-15 shows Berkshire holds only 10 total positions across its portfolio. Apple Inc remains the top holding at 22.0% of the portfolio despite ongoing reductions in the stock. American Express Co holds the second spot at 17.4%, even after facing the largest reduction by dollar value.
Coca Cola Co sits at 11.6%, making it the third-largest holding with a recent increase in shares. Bank of America Corp represents 9.5% of the portfolio, continuing a multi-quarter pattern of gradual trimming. Chevron Corporation holds the fifth spot at 6.6% of the total reported portfolio value.
The Consensus Reading Misses the Shift Toward Alphabet
The largest portfolio gain went to Alphabet, not Apple, revealing a market rotation observers overlooked. — Photo by Yan Krukau on Pexels
Headlines focused on Apple trims, but Alphabet Inc received the largest increase at $10,014,229,467 in reported value. The Alphabet position grew by 3.89 percentage points of portfolio weight in the latest 13F filing cycle.
Delta Air Lines Inc was the largest new 13F bet, representing 1.01% of the latest portfolio allocation. Macy's Inc also appeared as a new position, signaling a potential value play in traditional retail.
Observers fixating on the Apple sale overlook the deliberate capital rotation into Alphabet and Occidental Petroleum. Occidental Petroleum Corp joined Alphabet and Coca Cola as one of the three largest increases this quarter.
The Exits Signal a Clear Departure From Payment Networks
Berkshire Hathaway's complete divestment from major payment networks signals a strategic reassessment of sector valuations. — Photo by Yan Krukau on Pexels
Visa Inc was fully removed after representing 1.06% of the prior Berkshire Hathaway portfolio. Mastercard Incorporated was also exited completely in the same filing period as Visa. UnitedHealth Group Inc rounded out the three full exits in the latest 13F filing.
Exiting both Visa and Mastercard suggests a structural view on payment network valuations. During Q1 2025, Berkshire also exited Bank of New York Mellon and U.S. Bancorp from the portfolio. These financial sector exits coincided with initiating a new position in Capital One Financial during Q1.
Net Selling Reflects Valuation Discipline, Not Bearishness
Berkshire was a net seller of stocks with approximately $4 billion in net sales during Q4 2025. The selling accelerated in Q1 2025, reaching $10.4 billion in net equity sales. Berkshire spent $4.4 billion on its own stock buybacks during Q1 2025.
American Express Co saw the largest trim, reduced by $10,229,173,929 in reported value. The AmEx reduction trimmed 3.03 percentage points from the overall portfolio weight. This sustained selling pattern reflects a struggle to find attractive acquisition targets at current valuations.
What This Means for Retail Positioning
Warren Buffett stepped down as CEO of Berkshire Hathaway at the end of 2025. Buffett remains chairman, but the portfolio is under new management executing the latest trades. Retail investors tracking these moves should note the shift from payment networks to targeted value bets.
The New York Times Company stake initiated in Q4 2025 represents a small but signal-heavy media bet. The new Capital One Financial position initiated in Q1 2025 aligns with a cyclical financials preference. Watching how the new management handles the concentrated Apple position will be the key signal going forward.
FAQ
What stocks is Warren Buffett buying recently?
Berkshire Hathaway initiated positions in Delta Air Lines, Alphabet, and Macy's in the latest 13F. During Q1 2025, Berkshire also initiated a stake in Capital One Financial. The largest increase by dollar value was Alphabet, with over $10 billion added to the portfolio.
What stocks is Warren Buffett selling?
The largest trims were American Express, reduced by over $10 billion, and Apple. Berkshire also fully exited Visa, Mastercard, and UnitedHealth Group. In Q1 2025, the firm exited Bank of New York Mellon and U.S. Bancorp while reducing stakes in nine other stocks.
Is Berkshire Hathaway a net buyer or seller of stocks?
Berkshire is a net seller. Q4 2025 saw approximately $4 billion in net sales. That accelerated to $10.4 billion in net equity sales during Q1 2025. The company also spent $4.4 billion repurchasing its own shares during that same quarter.
Why did Buffett exit Visa and Mastercard?
The 13F filing shows both Visa and Mastercard were fully removed. Visa had represented 1.06% of the prior portfolio. The research dump does not state a specific reason. Exiting both payment networks suggests a coordinated structural view on that sector's valuations.
Is Warren Buffett still managing the Berkshire portfolio?
Warren Buffett stepped down as CEO of Berkshire Hathaway at the end of 2025. He remains chairman, but the portfolio is under new management. The latest 13F changes, including the Alphabet addition and AmEx reduction, reflect the current team's execution.
What is Berkshire's largest stock holding?
Apple Inc remains the largest holding at 22.0% of the portfolio as of the 2026-05-15 13F filing. American Express is second at 17.4%. Despite ongoing trimming, Apple still dominates the concentrated 10-position portfolio.