post-Warren Buffett era in Berkshire Hathaway (New York Stock Exchange: Pools) began to take shape after the company unveiled its first quarterly portfolio update under new CEO Greg Appel.
Buffett formally stepped down as CEO at the end of 2025 after leading Berkshire for six decades, handing control of the group to Appel, the longtime executive who previously oversaw Berkshire Hathaway Energy.
Although Warren Buffett remains chairman and continues to serve in an advisory role, this is Berkshire’s newest model 13F filing It provides the clearest indication yet of how the company’s investment strategy is evolving.
The filing, released May 15 for the quarter ended March 31, showed Berkshire’s stock portfolio was about $263 billion, down from about $274 billion in the previous quarter. Despite the changes, the portfolio remains highly concentrated, with the 10 largest holdings representing more than 90% of total assets.
Notable Berkshire stock movements
apple (Nasdaq: Apple) retained its position as Berkshire’s largest holding, representing about 22% of the portfolio. Other major positions included American Express (NYSE: xp), Coca-Cola (NYSE: He is), and Bank of America (NYSE: Buck).
Among the notable moves, the company significantly increased its stake in Alphabet (NASDAQ: Google), adding 36.4 million Class A shares and 3.6 million Class C shares, increasing the weight of the stock portfolio by 4.37 percentage points. Berkshire also added 10.1 million New York Times Company shares and expanded its holdings in Lennar by purchasing 3 million Class A shares and 56,723 Class B shares.
At the same time, Berkshire returned to the airline sector by acquiring 39.8 million shares of Delta Air Lines (NYSE: DAL) and also started a new position in Macy’s (NYSE: M) with 3 million shares.
On the selling side, Berkshire reduced its sales Chevron (New York Stock Exchange: CVX) by 45.8 million shares, a decline of 35.17%, with positions in Nucor, DaVita, Liberty Media and Bank of America also trimmed.
The entire group came out of kit Investmentsincluded Visa, MasterCard, UnitedHealth, Domino’s PizzaAoun, Paul Company, AmazonCharter Communications and Diageo.
Berkshire sold 8.3 million shares of Visa stock, 4 million shares of Mastercard stock, 5 million shares of UnitedHealth stock, and 2.3 million shares of Amazon stock.
In addition, the company continues to maintain a massive cash reserve of approximately $397 billion, giving the company great flexibility for future investments or acquisitions.
Berkshire Stocks After Buffett
Since Buffett’s retirement announcement, Berkshire shares have struggled to keep up with the broader market.
The stock’s performance was underperforming Standard & Poor’s 500 By about 10 percentage points amid concerns that the company may no longer control the so-called “Buffett Premium” that investors have historically associated with the stock.
Some analysts believe Berkshire’s valuation is now closer to its intrinsic value, with the stock trading at about 1.4 times book value.
Investors are also watching how Abel handles capital allocation amid limited large-scale acquisition opportunities and rising asset prices.
