Berkshire Hathaway's Stock Holdings: Kiplinger's Full Portfolio Analysis
Berkshire Hathaway's holdings are a diverse set of blue chips and lesser-known growth bets. Here, we look at the stocks included in the equity portfolio.
Warren Buffett stepped down as CEO of Berkshire Hathaway (BRK.B) at the end of 2025, and although he remains chairman, the holding company's stock portfolio is under new management.
Buffett always handled the largest positions in the Berkshire Hathaway portfolio, but those days are no more. The greatest long-term investor of all time still keeps his hand in and plays a key advisory role. Investment manager Ted Weschler also continues to manage perhaps 5% of Berkshire's stock investments.
But there's no question that CEO Greg Abel is now calling the shots.
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After overseeing a major housecleaning of BRK.B's equity portfolio in his first three months as CEO, Abel followed up with a sizable shift in capital deployment during Q2.
Although Berkshire was a net buyer of equities for the first time after 14 straight quarters of easing up on stocks, the company revealed no flashy new positions or big additions in a Securities and Exchange Commission (SEC) filing on August 14.
True, Berkshire purchased another $10 billion worth of stock in Google parent Alphabet in a private placement. The deal, disclosed in a June 1 statement, boosted its holdings of Class A shares (GOOGL) by 45% and Class B shares (GOOG) by more than 650%.
In addition to being a net buyer of stocks for the first time in more than two years — the conglomerate made $19.8 billion in purchases vs $3.7 billion in sales — it also repurchased $4.5 billion of its own stock. That's Berkshire's largest quarterly buyback since 2021. Furthermore, it bought back another $3.3 billion in July.
Some folks have criticized Berkshire for not putting its cash hoard to work. Well, Abel appears to have answered them. Berkshire's cash holdings are still gargantuan, but they did fall to $365 billion in the second quarter from a record $380 billion at the end of Q1.
Before we get into Berkshire's holdings, it's important to know that the company has always run a highly concentrated portfolio.
Excluding the company's Japanese brokerage stocks and other overseas equities, Apple (AAPL) alone accounts for more than a fifth of Berkshire's stock portfolio. (That's down from more than 40% at its peak.)
Furthermore, Berkshire's top five U.S. equity holdings comprise about 68% of its portfolio value, while the top 10 account for 88%.
As Buffett likes to say, diversification is for those who don't know what they're doing.
Regardless, whether we're talking about Berkshire's biggest bets or the scores of stocks it maintains at the margins, Buffett's focus shifted after the COVID-19 pandemic.
Berkshire used to see value in a host of big bank stocks. Today, the holding company is far more selective. Healthcare stocks and payments processors were a long-time Buffett bet. But not anymore.
If you want to know which stocks Berkshire is buying and selling, look no further than our portfolio analysis.
Sources: Berkshire Hathaway's SEC Form 13F filed August 14, 2026, for the reporting period ended June 30, 2026; and WhaleWisdom.
The Berkshire Hathaway portfolio
Company (Ticker) |
Shares held |
Holding value |
Percent of portfolio |
|---|---|---|---|
Apple (AAPL) |
227,917,808 |
$65,950,296,923 |
22.04% |
American Express (AXP) |
151,610,700 |
$51,282,319,275 |
17.14% |
Coca-Cola (KO) |
400,000,000 |
$32,508,000,000 |
10.86% |
Alphabet (GOOGL) |
78,791,167 |
$28,157,599,351 |
9.41% |
Bank of America (BAC) |
483,394,015 |
$27,543,790,975 |
9.20% |
Chevron (CVX) |
84,375,856 |
$13,986,141,890 |
4.67% |
Occidental Petroleum (OXY) |
264,941,431 |
$12,868,205,304 |
4.30% |
Chubb (CB) |
34,249,183 |
$11,670,066,615 |
3.90% |
Moodys (MCO) |
24,669,778 |
$11,173,435,852 |
3.73% |
Alphabet (GOOG) |
27,188,433 |
$9,606,489,032 |
3.21% |
Kraft Heinz (KHC) |
325,634,818 |
$7,691,494,401 |
2.57% |
Delta Air Lines (DAL) |
57,320,000 |
$5,368,591,200 |
1.79% |
Sirius XM (SIRI) |
124,807,117 |
$3,686,802,237 |
1.23% |
VeriSign (VRSN) |
8,989,880 |
$2,261,494,212 |
0.76% |
Kroger (KR) |
39,000,000 |
$2,165,670,000 |
0.72% |
Ally Financial (ALLY) |
27,000,000 |
$1,240,650,000 |
0.41% |
Lennar (LEN) |
13,111,741 |
$1,186,481,443 |
0.40% |
Liberty Live (LLYVA) |
10,587,143 |
$1,118,425,787 |
0.37% |
New York Times (NYT) |
15,700,000 |
$1,098,686,000 |
0.37% |
Capital One Financial (COF) |
3,000,000 |
$601,860,000 |
0.20% |
Liberty Live (LLYVK) |
4,986,588 |
$504,941,901 |
0.17% |
Louisiana-Pacific (LPX) |
5,664,793 |
$445,592,617 |
0.15% |
Nucor (NUE) |
1,857,752 |
$413,814,258 |
0.14% |
Macy's (M) |
7,347,426 |
$173,031,882 |
0.06% |
NVR (NVR) |
11,112 |
$75,710,501 |
0.03% |
Lennar (LEN.B) |
298,117 |
$26,445,959 |
0.01% |
Jefferies Financial Group (JEF) |
433,558 |
$21,669,229 |
0.01% |
D.R. Horton (DHI) |
3,564 |
$580,504 |
less than 0.01% |
Stocks Berkshire is buying
Buffett famously avoided airlines for decades. When he finally did come around, his timing was terrible, spreading his bets among a handful of major carriers not too long before COVID-19 set the industry into a tailspin. As a result, he quickly closed out those positions.
So it's a mark of change that Berkshire upped its stake in Delta Air Lines (DAL) by 44% in Q2 after initiating the position just three months earlier. The company bought another 17.5 million shares, bringing its total holdings to more than 57 million. With a market value of $5.4 billion at the end of Q2, the air carrier is now Berkshire's 13th-largest holding.
In another move in the homebuilder industry, Berkshire increased its positions in Lennar Class A (LEN) and Class B (LEN.B) stock, by 30% and 25%, respectively. At 0.4%, LEN is the company's 18th-largest investment. LEN.B, at less than 0.1%, is essentially immaterial.
Meanwhile, Berkshire added to two recent additions to its investments. It boosted its stake in The New York Times Co. (NYT) by almost 4%, while more than doubling its position in Macy's (M). NYT accounts for about 0.4% of the portfolio, while M sits at less than 0.1%. Although it's nice to have the imprimatur of Berkshire Hathaway, these are not needle-moving investments for a trillion-dollar company.
Stocks Berkshire is selling
In a reprise from previous quarters, Berkshire once again sold some Bank of America (BAC) stock, which has been a major holding since 2017. It's too soon to panic, though. Berkshire reduced its investment in the nation's second-largest bank by assets by less than 6%. BAC is still a top-five holding, although GOOGL did replace it at No. 4.
Elsewhere, Abel pared back on supermarket operator Kroger (KR), reducing the position by 22%. At 0.7% of the portfolio value, KR drops to Berkshire's 16th-largest holding from 12th at the end of Q1.
In the financial sector, Berkshire eased up on investments in Ally Financial (ALLY) by almost 7%, while slicing its position in Capital One Financial (COF) by 58%. ALLY accounts for just 0.4% of Berkshire's U.S. equity portfolio, while COF amounts to 0.2%.
Lastly, Berkshire reduced exposure to Nucor (NUE) by 52%. NUE now accounts for about 0.1% of the portfolio, or the firm's 24th-largest position. In the only exit, Berkshire sold its entire stake in Constellation Brands (STZ), a position it initiated in the final quarter of 2024. At less than 0.1% of the portfolio prior to the liquidation, STZ was immaterial.
Berkshire's top five holdings
- Warren Buffett has always maintained a concentrated Berkshire Hathaway equity portfolio.
- The top five positions in the Berkshire portfolio account for 68% of its total value.
- Apple, American Express, Coca-Cola, Alphabet and Bank of America are the five largest holdings.
As noted above, Buffett has always maintained a highly concentrated portfolio. Indeed, he's said that "diversification makes very little sense for anyone who knows what they're doing."
The stocks below accounted for 68% of Berkshire's total U.S. equities portfolio value as of the end of Q2. If you want to know what's driving the bulk of the Buffett's returns, check out the names below.
Apple
Buffett has called Apple "Berkshire's third business," so it should come as no surprise that the iPhone maker routinely takes the top spot among the holding company's positions.
True, Berkshire has pared its stake in Apple in recent quarters, but Buffett has assured shareholders he adores AAPL as much as ever. BRK.B's former CEO took pains to explain that the iPhone maker is still — er — the Apple of his eye.
For the record, the sales were for tax purposes. The greatest long-term investor of all time said that AAPL is "even better" than American Express or Coca-Cola, two "wonderful" businesses that Berkshire has owned since the early 1960s and late 1980s, respectively.
More recently, Buffett said he wasn't comfortable with Apple accounting for such an outsized weight in the portfolio.
As one of Apple's largest shareholders, Berkshire's continuing interest in the iPhone maker has market-wide implications.
American Express
Berkshire closed out its stakes in payments processors Visa (V) and Mastercard (MA), but it continues to adore American Express.
Buffett took his first stake in AmEx in the 1960s, and it’s still paying off a half-century later.
There's a lot to love about AmEx: Its management is strong; it's a dominant brand in the industry; and it generates copious amounts of free cash flow — the money left after essential capital expenditures are made that can be used to finance dividends and stock buybacks.
The current yield on the dividend isn't eye-catching, but it is safe and growing. The stock is only slightly more volatile than the broader market. Those are attributes that will help long-term investors sleep better at night.
Coca-Cola
Buffett famously drank Coca-Cola for 52 years before investing in the stock.
He finally took the plunge in 1988. "We expect to hold these securities for a long time," Buffett wrote back then of his new stake in Coke in a letter to Berkshire shareholders. "In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever."
As of the end of Q2 2026, Berkshire owned 9.3% of Coca-Cola’s outstanding shares. Analysts like the stock's prospects, too. Wall Street gives KO a consensus recommendation of Buy, with strong conviction.
Alphabet
Google parent Alphabet is having quite a year. Its blue-chip bonafides were hardly in question, but they were symbolically confirmed when GOOGL joined the Dow Jones Industrial Average in June 2026.
Alphabet is best known to consumers as the operator of Google and YouTube, but as S&P Global notes, GOOGL's diversified portfolio spans advertising, cloud infrastructure, artificial intelligence, hardware, self-driving cars and healthcare technology.
It's clearly a series of businesses that Berkshire — and Buffett himself — is keen about. Indeed, Buffett told CNBC that he, not Abel, initiated the company's stake in Alphabet.
Berkshire first bought GOOGL stock in the third quarter of 2025, and has increased the holding dramatically ever since. Heck, in Q2 Alphabet overtook, long-time Buffett favorite Bank of America as Berkshire's 4th-largest holding.
Bank of America
Bank of America is Berkshire Hathaway's fifth-largest holding. Buffett first acquired BAC stock in Q3 2017. Berkshire is the bank's second-largest institutional shareholder.
In an April 2023 media appearance, Buffett said that he unloaded many of the holding company's bank stocks because he didn't think they were near as solid investments as they once were. As for Bank of America, he said this about the bank and its CEO:
"I like [CEO] Brian Moynihan enormously. And I just don't wanna, I don't wanna sell it," the then 92-year-old CEO told CNBC's Becky Quick.
"But I did sell banks that we'd owned for 25 or 30 years. And if they asked me why I did it, I told them — I just think the system isn't set up quite right in terms of connecting punishment to culprits on something that's important," Buffett added.
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