MarketMoodz
Berkshire Was Net Seller in Buffett’s Final Quarter, Trims Apple and BoA
Berkshire Hathaway ended Buffett’s tenure with net equity selling in the December quarter. The moves trim Apple and Bank of America while lifting Chevron and Chubb, signaling a disciplined allocation posture as Buffett nears retirement.
Key Takeaways
- Berkshire reported net equity selling in Q4, Buffett’s final quarter as CEO.
- Apple remains Berkshire’s largest holding at about $60.3B despite substantial trims (>75% since 2023).
- Bank of America stake cut by about 75% since mid-2024, reflecting a selective rotation.
- Chevron and Chubb positions were increased in Q4 by roughly 6.6% and 9.3%, respectively.
- The New York Times stake was added in Q4 at about $395M, while Amazon was trimmed to $478M.
People Involved
- Warren Buffett Chairman and CEO of Berkshire Hathaway
- Todd Combs Berkshire Hathaway Portfolio Manager
- Ted Weschler Berkshire Hathaway Portfolio Manager
Entities Involved
- Apple Inc. (AAPL) Berkshire’s largest equity holding, trimmed in Q4
- Bank of America Corp. (BAC) Significant Berkshire exposure reduced in Q4
- Chevron Corp. (CVX) Position increased in Q4
- Chubb Ltd. (CB) Position increased in Q4
- The New York Times Company (NYT) New stake added in Q4
- Amazon.com Inc. (AMZN) Stake reduced in Q4
MarketMoodz Analysis
The quarter offers a clear window into Berkshire’s capital-allocation mindset as Buffett nears retirement. The trimming of Apple and Bank of America suggests Berkshire is funding newer ideas or de-risking exposure without abandoning its core, value-oriented approach. The increases in Chevron and Chubb highlight a tilt toward durable earnings and insurance- and energy-linked cash flow.
From a historical perspective, Berkshire has long favored concentrated bets and patient, long-duration bets rather than broad tech growth plays. The NYT stake marks a discreet pivot back toward media assets, a rare move for Berkshire that could signal greater agility from the investment team under Todd Combs and Ted Weschler. Expect the 8-K/13F disclosures to clarify how permanent these shifts are and whether they foreshadow broader changes under Buffett’s successor.
What to watch next: 2026 filings for any further adjustments, the pace of succession planning, and whether Berkshire maintains its disciplined balance between insurance, energy, and select equity exposures in a post-Buffett era.
Source: Original Article
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