Buffett's final season at the helm of Berkshire Hathaway, drastically reducing Apple and Bank of America holdings, bets on energy and insurance stocks

As the 13F filing for Q4 2025 is released, the latest holdings adjustments by Berkshire Hathaway, led by the investment decisions of the stock legend Warren Buffett, are officially disclosed. This marks the final significant portfolio rebalancing during Buffett’s era. Berkshire Hathaway has clearly rebalanced its assets in Q4: on one hand, significantly reducing holdings in technology and financial giants; on the other hand, increasing positions in energy, insurance, and traditional cash-flow businesses.

Q4 Largest Purchases: Energy, Insurance, and Stable Cash Flow Assets

From a market capitalization growth perspective, Berkshire’s main increased holdings in Q4 focus on three areas: energy, insurance, and traditional companies with strong branding and pricing power. The top purchases include $1.233 billion in Chevron (CVX) and $910 million in Chubb (CB).

Additionally, Berkshire bought $352 million worth of The New York Times (NYT) and $153 million in Domino’s Pizza (DPZ). Among these, the increases in Chevron and Chubb are most indicative. These two represent Buffett’s core investment logic: energy companies benefit from long-term supply and demand tensions caused by inflation and geopolitical issues, while insurance companies provide stable underwriting profits and invest floating reserves.

Meanwhile, investments in The New York Times, Domino’s, and outdoor advertising reflect Buffett’s continued preference for brand strength, subscription revenue, and offline cash flow models.

Berkshire Hathaway Sells 75% of Amazon Stock in Q4

Contrasting with the increased positions, Berkshire’s Q4 reduction mainly focused on technology giants and large financial institutions. The largest sale was of Apple (AAPL), with $2.799 billion sold. It also sold $2.793 billion worth of Bank of America (BAC). Buffett had previously expressed regret over missing Amazon, but in Q4 2025, he cut 75% of his Amazon (AMZN) holdings, selling $1.783 billion worth of stock.

He also sold $175 million of Aon (AON) and $89.21 million of Pool Corp (POOL).

The most notable market focus is on the continued reduction of Apple holdings. Over the past few years, Apple has been Berkshire’s largest single position. The ongoing trimming indicates that, amid high valuations for tech giants, Berkshire is gradually realizing gains and rebalancing its portfolio. Additionally, the reductions in Bank of America and Amazon reflect a cautious attitude toward bank valuations in a high-interest-rate environment and concerns over slowing growth in e-commerce and cloud services.

This article about Buffett’s final quarter leading Berkshire Hathaway, sharply cutting Apple and Bank of America, while betting on energy and insurance stocks, first appeared on Chain News ABMedia.