Berkshire Hathaway filed its 13F for the quarter ended December 31, 2025, after the close of trading on Tuesday, providing an early look at how the conglomerate is arranging its equity holdings at a moment of executive transition. Warren Buffett officially retired as chief executive officer on December 31, 2025, at age ninety-five, and Greg Abel has assumed day-to-day leadership. The filing is therefore read as both the final formal snapshot of the Buffett-era portfolio and the first overseen by Berkshire's new operational chief.
A carefully measured portfolio update
The changes disclosed in the filing are meaningful but measured. Berkshire appears to be making deliberate position adjustments rather than overhauling its investment approach. That continuity is evident in both additions to the book and in the decision to hold several established stakes steady.
New media position - The New York Times
The most attention-grabbing entry in the 13F is Berkshire's first recorded position in The New York Times Company. The filing lists ownership of 5,065,744 shares, marking the conglomerate's initial stake in the news organization. The purchase stands out against Berkshire's longstanding pattern of backing companies with recognizable brands, dependable economics and customer loyalty.
Stronger energy exposure via Chevron
Berkshire increased its holding in Chevron Corp, lifting the position from 122,064,792 shares to 130,156,362 shares. The larger stake signals a deepening commitment to integrated energy producers within the portfolio and reinforces the firm's confidence in Chevron's capacity to deliver shareholder returns and manage cash flow across commodity cycles.
Reductions among tech and financial positions
On the other side of the ledger, Berkshire pared back several high-profile stakes. The Amazon.com Inc position was sharply reduced from 10,000,000 shares to 2,276,000 shares. Berkshire also trimmed its Apple Inc holding from 238,212,764 shares to 227,917,808 shares. Despite the Apple reduction, the company remains the largest individual equity holding in Berkshire's portfolio by a wide margin.
Bank of America Corp also saw a meaningful reduction, with the stake falling from 568,070,012 shares to 517,295,934 shares. These decreases suggest portfolio rebalancing through selective trimming rather than wholesale divestment.
Core holdings left intact
Several cornerstone positions were left untouched in the quarter. Berkshire retained its 17,846,142 share stake in Alphabet Inc, signaling continued belief in the search, advertising and AI-related franchises of Google's parent. The filing also shows an unchanged holding of 151,610,700 shares of American Express Company, a position long associated with Buffett's preference for businesses catering to premium customers with resilient economics.
Perhaps most emblematic of the firm's steady hand, Berkshire maintained its 400,000,000 share stake in The Coca Cola Company. That position remains among the clearest embodiments of the investment philosophy focused on durable brands and global reach.
What the filing communicates
Taken together, the adjustments in this 13F convey continuity more than transformation. With Greg Abel stepping into the chief executive role and Buffett remaining as chairman, the portfolio changes read as tactical refinements within an established playbook. The focus remains on quality, strong cash generation and businesses with durable market positions.
Should investors be looking at Chevron now?
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