Warren Buffett's Latest Stock Portfolio: Inside the $313 Billion in Holdings Shaping the Berkshire Hathaway Strategy

Buffett’s Retreat Marks a Turning Point for Wall Street

Warren Buffett is stepping down as CEO of Berkshire Hathaway at the end of 2025, concluding a legendary investment career spanning decades. This transition offers a unique window to examine what stocks Buffett has chosen to hold through his final years leading one of the world’s most influential corporations. His current portfolio encompasses 46 individual stocks valued at approximately $313 billion, reflecting a carefully curated selection of Warren Buffett’s most conviction-driven investment ideas.

The Concentration Strategy: Where Buffett Deployed His Largest Bets

What strikes many observers about Warren Buffett’s approach is his willingness to concentrate capital in his highest-conviction ideas. While Berkshire Hathaway maintains diversification across sectors, the 10 largest holdings account for roughly 82.1% of total stock value—a powerful testament to conviction-based investing.

The Portfolio Anchors:

Leading the charge is Apple, representing approximately $75.9 billion or 24.2% of the portfolio. American Express follows with $54.6 billion (17.4%), demonstrating Buffett’s enduring faith in financial services. Bank of America commands $32.2 billion (10.3%), while Coca-Cola—a decades-long holding—accounts for $27.6 billion (8.8%). Chevron rounds out the top five at $18.8 billion (6%).

The second tier reveals additional conviction plays: Moody’s ($11.8B, 3.8%), Occidental Petroleum ($10.9B, 3.5%), Mitsubishi ($9.3B, 3%), Kraft Heinz ($8.0B, 2.6%), and Itochu ($7.8B, 2.5%).

Long-Term Conviction: The Power of Patient Capital

Several stocks within Warren Buffett’s core holdings have resided in Berkshire’s portfolio for generations. American Express and Coca-Cola exemplify this philosophy—positions that have compounded wealth substantially over decades. This approach contradicts the modern tendency toward constant portfolio turnover. Buffett has frequently praised dividend-paying stocks, particularly those offering stable returns over extended periods, even as Berkshire Hathaway itself forgoes dividend payments in favor of reinvesting earnings.

The Middle Tier: Selective Diversification Across Industries

Beyond the top 10, Berkshire maintains 14 additional positions representing approximately 14.8% of the portfolio. These holdings span insurance, financial services, technology, consumer goods, and specialized services:

Insurance and trading companies form a notable cluster: Chubb Limited ($7.5B, 2.4%), Mitsui & Co ($7.2B, 2.3%), and Marubeni ($3.8B, 1.2%). Healthcare exposure includes DaVita ($3.9B, 1.2%) and UnitedHealth Group ($1.7B, 0.6%), the latter acquired following a market correction earlier in 2025. Financial services continue with Capital One Financial ($1.6B, 0.5%).

Consumer-facing stocks include Kroger ($3.3B, 1%), Sirius XM Holdings ($2.9B, 0.9%), and Constellation Brands ($1.7B, 0.6%). Payment processors Visa ($2.9B, 0.9%) and Mastercard ($2.2B, 0.7%) reflect growth in digital transactions, while technology selections include Amazon ($2.2B, 0.7%) and VeriSign ($2.1B, 0.7%).

Several positions represent recent accumulations, signaling where Warren Buffett currently sees opportunity. The Chubb Limited position initiated in 2023, while UnitedHealth Group represents a tactical entry following market volatility.

The Long Tail: Micro-Positions in a Mega Portfolio

The final 22 holdings collectively represent just 3% of Berkshire’s stock portfolio but command nearly $10 billion in absolute value. These positions demonstrate that even small allocations matter when managing hundreds of billions:

Construction and Real Estate: Lennar ($0.9B), D.R. Horton ($0.2B), and NVR (sub-$0.1B) reflect exposure to housing markets. Domino’s Pizza ($1.1B) provides consumer discretionary exposure.

Industrial and Specialty Services: Nucor ($1.0B), Aon PLC ($1.3B), Ally Financial ($1.1B), Pool Corp ($1.0B), Heico ($0.3B), and Allegion ($0.1B) span industrial products through specialized services.

Media and Communications: Lamar Advertising ($0.1B) and Charter Communications ($0.2B) maintain media exposure, while Liberty-related holdings—including Liberty Live ($1.4B combined), Liberty Formula One ($0.3B), and Liberty Latin America (sub-$0.1B)—represent diversified subsidiary positions.

Other Holdings: Atlanta Braves Holdings ($<0.1B), Louisiana-Pacific ($0.5B), Diageo ($<0.1B), and Jefferies Financial Group ($<0.1B) round out Warren Buffett’s eclectic selections.

The Cash Elephant in the Room: $344.1 Billion and Counting

Perhaps the most debated aspect of recent Berkshire decisions involves cash accumulation. Berkshire Hathaway currently holds $344.1 billion in cash and equivalents—exceeding the market value of its entire $313 billion stock portfolio. This sum would purchase nearly any major corporation or substantial portions of the S&P 500 outright.

Buffett’s legendary reputation stems from disciplined restraint: avoiding overpayment and waiting for genuine bargains. His patience has historically paid dividends. Yet the cash position invites legitimate questions. In retrospect, how will observers judge the years of capital accumulation while markets climbed? Will hindsight reveal missed compounding opportunities?

Investment Lessons from Warren Buffett’s Portfolio Strategy

For individual investors, several principles emerge from examining Warren Buffett’s current holdings:

Concentration + Diversification Balance: While Buffett’s top 10 holdings dominate, the portfolio extends to 46 positions. This suggests conviction in core ideas paired with selective exposure across opportunities.

Patience Compounds: Multi-decade holdings in American Express and Coca-Cola demonstrate time’s power. Warren Buffett favors companies offering stable returns across market cycles.

Dollar-Cost Averaging Outperforms Timing: For most investors, continuous investment beats attempts to perfectly time entries. Maintaining some cash for opportunities remains prudent, yet the axiom “time in the market beats timing the market” holds particular relevance during cash accumulation phases.

Quality Matters: Across all 46 stocks, Berkshire emphasizes established, profitable enterprises with sustainable competitive advantages—not speculative growth stories.

As Warren Buffett approaches his retirement, his portfolio stands as a masterclass in conviction investing, patient capital deployment, and the enduring power of quality businesses held over time.