WARREN BUFFETT – BERKSHIRE HATHAWAY Q2 2025 PORTFOLIO

Berkshire Hathaway, a hedge fund managed by Warren Buffett, disclosed 41 security holdings in its Q2 2025 13F filing, with a total portfolio value of $257,521,776,925.

Warren Buffett’s Portfolio

Q2 2025 Holdings and Strategic Analysis

As of Q2 2025, Warren Buffett’s Berkshire Hathaway portfolio shows continued strategic repositioning with notable changes across several key holdings. The total portfolio value stands at $257.5 billion with 41 positions, representing increased diversification from the previous quarter’s 36 positions. Below is a detailed overview of his latest positions and significant changes since Q1 2025.

Top Holdings

AAPL

Apple Inc.

Reduced 6.67%

Portfolio: 22.31% (-3.45%)

Shares: 280,000,000

Reported Price: $205.17

Value: $57,447,600,000

Apple remains the largest holding despite a significant reduction of 20 million shares in Q2. The portfolio allocation decreased notably from 25.76% to 22.31%, indicating a strategic move to reduce concentration risk in the tech giant.

AXP

American Express

No Change in Shares

Portfolio: 18.78% (+3.01%)

Shares: 151,610,700

Reported Price: $318.98

Value: $48,360,781,086

American Express has significantly strengthened its position as the second-largest holding, with portfolio allocation rising from 15.77% to 18.78%. This increase reflects both price appreciation and Buffett’s unwavering confidence in the premium credit card company.

BAC

Bank of America Corp.

Reduced 4.17%

Portfolio: 11.12% (+0.93%)

Shares: 605,267,375

Reported Price: $47.32

Value: $28,641,252,185

Bank of America moved up to third place despite another reduction of 26.3 million shares. The continued trimming over consecutive quarters suggests deliberate portfolio rebalancing, though BAC remains a significant position in the banking sector.

Coca-Cola Co.

No Change in Shares

Portfolio: 10.99% (-0.08%)

Shares: 400,000,000

Reported Price: $70.75

Value: $28,300,000,000

Coca-Cola dropped to fourth place from third, with a slight decrease in portfolio percentage. Despite this minor shift, the position remains substantial, reflecting Buffett’s long-term commitment to this defensive consumer staples holding.

CVX

Chevron Corp.

Added 2.91%

Portfolio: 6.79% (-0.88%)

Shares: 122,064,792

Current Price: $143.19

Value: $17,478,457,567

Chevron saw continued buying with 3.45 million shares added, though the portfolio percentage decreased slightly due to overall portfolio growth. This demonstrates Buffett’s sustained confidence in energy sector fundamentals.

MCO

Moody’s Corp.

No Change in Shares

Portfolio: 4.81% (+0.37%)

Shares: 24,669,778

Current Price: $501.59

Value: $12,374,113,948

Moody’s strengthened its position to become the sixth-largest holding, up from seventh in Q1. The credit rating agency’s increased allocation reflects price appreciation and Buffett’s continued confidence in financial services.

OXY

Occidental Petroleum

No Change in Shares

Portfolio: 4.32% (-0.74%)

Shares: 264,941,431

Current Price: $42.01

Value: $11,130,189,516

Occidental Petroleum dropped from sixth to seventh place with a decreased portfolio percentage, though no shares were sold. The position remains significant in Berkshire’s energy sector exposure strategy.

KHC

Kraft Heinz Co.

No Change in Shares

Portfolio: 3.26% (-0.57%)

Shares: 325,634,818

Current Price: $25.82

Value: $8,407,891,001

Kraft Heinz maintained its position despite a decreased portfolio percentage. The consumer staples investment continues to provide stability and dividend income in Berkshire’s diversified portfolio.

Chubb Limited

No Change in Shares

Portfolio: 3.04% (-0.12%)

Shares: 27,033,784

Current Price: $289.72

Value: $7,832,227,900

Chubb remains a stable insurance sector holding with minimal portfolio percentage change. The property and casualty insurer continues to complement Berkshire’s own insurance operations effectively.

AMZN

Amazon.com Inc.

New Position

Portfolio: 0.85% (New)

Shares: 10,000,000

Current Price: $219.39

Value: $2,193,900,000

Amazon represents a significant new addition to the portfolio, marking Buffett’s first major investment in the e-commerce and cloud computing giant. This $2.19 billion position signals growing comfort with technology platforms that demonstrate durable competitive advantages.

Portfolio Strategy Analysis

Major Apple Reduction Signals Risk Management

The sale of 20 million Apple shares represents a significant de-risking move, reducing portfolio concentration from 25.76% to 22.31%. This continues the gradual trimming strategy, suggesting Buffett wants to maintain Apple as the top holding while reducing single-stock concentration risk.

Amazon Entry Marks Technology Evolution

The addition of Amazon as a new $2.19 billion position represents a landmark moment. This investment signals Buffett’s recognition of Amazon’s evolving from a growth story to a mature, cash-generating business with durable competitive moats in e-commerce and cloud computing.

American Express Becomes Clear Number Two

American Express has solidified its position as the second-largest holding, with allocation rising to 18.78%. This significant increase reflects both price appreciation and Buffett’s confidence in the premium credit card company’s resilient business model and expanding digital capabilities.

Continued Banking Sector Trimming

Despite moving to third place, Bank of America saw another reduction of 26.3 million shares. This continues the multi-quarter trend of reducing banking exposure, though BAC remains the largest bank holding, indicating selective rather than wholesale banking sector exit.

Increased Portfolio Diversification

The portfolio expanded from 36 to 41 positions, with several new smaller investments across various sectors. This increased diversification includes new positions in housing (Lennar), logistics (UnitedHealth), and other sectors, suggesting a more broadly distributed risk approach for 2025.

Notable New Additions

Beyond Amazon, Q2 2025 saw several other notable new positions:

Lennar Corporation (LEN/LEN.B) – A significant entry into homebuilding with combined value of nearly $800 million, suggesting optimism about housing market fundamentals.

UnitedHealth Group (UNH) – A $1.57 billion position in the healthcare giant, marking Berkshire’s return to major healthcare investing after previous exits.

Pool Corporation (POOL) – A $1 billion position that more than doubled through additional buying, indicating strong conviction in this swimming pool supply distributor.

These additions demonstrate Buffett’s willingness to enter new sectors when valuations and business fundamentals align with Berkshire’s investment criteria.

Conclusion

Warren Buffett’s Q2 2025 portfolio reveals a strategic evolution toward greater diversification and selective technology adoption. The landmark Amazon investment, combined with continued Apple trimming, suggests a more nuanced approach to technology investing—focusing on companies that have matured into cash-generating businesses with clear competitive advantages.

The strengthened position in American Express and continued Bank of America reductions indicate selective rather than wholesale changes in financial sector exposure. New positions across housing, healthcare, and consumer sectors demonstrate opportunistic investing as valuations become attractive.

With 41 positions totaling $257.5 billion, the Q2 2025 portfolio represents Berkshire’s most diversified holdings in recent years while maintaining focus on businesses with durable competitive advantages. This evolution suggests preparation for a potentially volatile economic environment while positioning for long-term growth opportunities across multiple sectors.

Berkshire Hathaway Portfolio Analysis

Based on 13F filing for reporting period: Q2, 2025

Portfolio Manager

Warren Buffett

Filing Date

August 14, 2025

Total Value

$257,521,776,925

Number of Positions

Portfolio Allocation

Holdings Breakdown

Rank	Company Name	% of Portfolio	Q2 Activity	Ticker	Shares	Market Value ($)