Warren Buffett’s Portfolio 2025: Deep Dive into His Latest Moves and Strategy

Below, we break down: what his current major holdings are, recent changes, themes in his portfolio, and what it could mean for his succession era — followed by 20 “people also ask” style questions many investors are searching for.

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1. Snapshot: The Big Picture of Buffett’s Portfolio

• As of the Q2 2025 SEC 13F filing, Berkshire’s U.S. equity portfolio was worth approximately $257.5 billion.
• Buffett’s top 10 holdings alone make up more than 80% of that stock portfolio, showing very high concentration in a few core ideas. The Motley Fool+1
• Despite being known for “value” investing, Berkshire has made noteworthy bets on industrials, healthcare, and homebuilders recently — in addition to trimming older, large positions. moneyature.com+3Kiplinger+3Yahoo Finance+3
• Cash reserves remain massive, giving Berkshire flexibility, even as Buffett’s own role winds down. Reddit

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2. Core Holdings: Buffett’s All-Time Favorites

Here are the top stocks Buffett continues to hold in very large sizes — his “big ideas”:

Apple (AAPL)

• Still Buffett’s largest position, accounting for around 22.3% of the portfolio. Valuesider+2Wealth Awesome+2
• Though he has been trimming, he retains hundreds of millions of shares, reflecting deep conviction in Apple’s ecosystem, brand strength and cash generation. Nasdaq+1
• Even with reductions, this remains the bedrock of Berkshire’s public stock exposure. moneyature.com

American Express (AXP)

• Buffett’s second-largest U.S. equity position. As of recent data, it’s valued at ~$40–55 billion (depending on sources). The Motley Fool+1
• This is a decades-old holding — Buffett loves its brand loyalty, premium customer base, and consistent earnings. The Motley Fool

Bank of America (BAC)

• Another huge financial bet: around ~11% of the portfolio. Valuesider+1
• Berkshire holds a very large number of BofA shares, showing faith in large-cap U.S. banking. Nasdaq
• Buffett has trimmed this stake in recent filings, but still holds a meaningful chunk. Kiplinger

Coca-Cola (KO)

• A classic Buffett holding. ~10.99% of his equity exposure in Q2 2025. Valuesider
• Buffett has held Coca-Cola for decades. It’s a reliable, cash-generative consumer staple. Investopedia

Chevron (CVX)

• Energy exposure: Chevron is a major holding (~6-7% of portfolio). Wealth Awesome+1
• This continues Buffett’s long-term interest in strong, cash-flowing energy companies.

Other notable large positions:

• Occidental Petroleum (OXY): Significant energy play. The Motley Fool+1
• Moody’s (MCO): Key financial / credit-data company. The Motley Fool
• Kraft Heinz (KHC): Consumer staples bet. Wealth Awesome+1
• Chubb (CB): Insurance business aligns well with Berkshire’s core. Forbes
• Japanese trading companies: Berkshire has material positions in Itochu, Mitsubishi, Mitsui, etc. The Motley Fool+1

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3. Recent Moves & New Themes (2024–2025)

While the bedrock of Buffett’s portfolio remains familiar, Berkshire has made several interesting moves in recent quarters:

New / Increased Positions

• UnitedHealth Group: A new stake of around $1.6 billion disclosed in Q2 2025. Yahoo Finance
  • This is significant: entering a major healthcare company suggests Buffett (or his deputies) see long-term value in health-insurance or healthcare delivery.
• Nucor (NUE): Steelmaker stake increased by ~14.9%. Yahoo Finance
• Lennar & D.R. Horton: Homebuilders — Buffett added almost $800M in Lennar and also took a stake in D.R. Horton. Yahoo Finance
  • These bets align with Berkshire’s broader interest in housing. (Berkshire also owns Clayton Homes.)
• Lamar Advertising & Allegion: Smaller, but new positions in out-of-favor or specialized businesses. Yahoo Finance

Trims / Sells

• Apple: Continued reduction, though still the largest position. The Motley Fool
• Bank of America: Trimming some of this large financial bet. Kiplinger+1
• T-Mobile US: Fully exited per some filings. Forbes

Strategic Signals

• The new investments in healthcare, steel, and housing suggest Buffett (and possibly his successors, Ted Weschler and Todd Combs) may be looking beyond just traditional “consumer + financial + energy” plays.
• These are not just opportunistic minor bets — UnitedHealth’s size (~$1.6B) suggests serious conviction. AP News+1
• Despite long-term investments, Berkshire retains a massive cash pile, indicating either caution in deployment or keeping dry powder for major future moves. Reddit

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4. Strategy & Philosophy Reflected in the Portfolio

Buffett’s portfolio continues to reflect his core investment philosophy — but with subtle evolution.

Core Principles at Play

1. Concentration in High-Conviction Bets
   • Over 80% of the publicly disclosed portfolio is in just ten names. The Motley Fool
   • Shows Buffett’s willingness to back his top ideas heavily, rather than dilute across dozens of stocks.
2. Long-Term Orientation
   • Many of his biggest holdings are businesses he has held for years — even decades (e.g., Coca-Cola, American Express). The Motley Fool
   • He remains committed to “buy and hold” when he believes the business fundamentals are strong.
3. Value + Quality Combination
   • He favors companies with strong earnings, durable moats, good management, and capacity for free cash flow.
   • Examples: financials like AmEx and BofA, energy like Chevron and Occidental, and data / ratings business like Moody’s.
4. Selective Innovation Exposure
   • While not a traditional tech growth investor, he’s not shying away from select technology/AI-driven names. His large Apple stake, combined with newer investments, reveals this nuance. The Economic Times
   • But the new stake in UnitedHealth shows he’s also betting on secular trends in healthcare, not just legacy businesses.
5. Succession & Stewardship
   • With Buffett planning to retire, new additions (healthcare, industrial, homebuilding) may reflect the investment style or sector preferences of his successors, Ted Weschler and Todd Combs. Kiplinger
   • Their combined portfolio reportedly returns around 7.8% annually over the past decade, trailing Buffett’s historic performance. Reddit

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5. Risks & Challenges

No portfolio, even one run by Buffett, is immune to risks. Here are some potential challenges for Berkshire’s current positioning:

• Concentration Risk: With most of the equity portfolio in just a few names, any weakness in those could disproportionately hurt.
• Valuation Risk: Large tech exposure (Apple) is prone to valuation swings.
• Sector Cyclicality: Bets in steel (Nucor), energy (Chevron, OXY), and homebuilders (Lennar, D.R. Horton) expose Berkshire to macroeconomic cycles (housing downturns, energy volatility).
• Succession Risk: As Buffett retires, how well his successors manage and evolve the portfolio matters — the strategy may shift further or be misaligned with his core principles.
• Cash Deployment Risk: Holding large cash is both strength and risk: if it’s not invested wisely, opportunity cost could be high.

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6. What This Means for Investors

• Long-term investors can learn from Buffett’s concentration: he backs what he deeply believes in.
• Value seekers might focus on his energy and financial picks — these are not speculative bets.
• Growth investors might note his selective innovation tilt — Apple remains huge, and new bets hint at broader thinking.
• Aspiring investors can use his strategy as a model: build core positions in strong businesses, but be ready to adapt.

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7. 20 Trending “People Also Ask” Questions

Here are 20 questions people often search about Warren Buffett’s portfolio, along with current, well-researched answers:

1. Q: What are Warren Buffett’s top holdings in 2025?
   A: As of Q2 2025, his largest positions include Apple, American Express, Bank of America, Coca-Cola, Chevron, Moody’s, Occidental Petroleum, Kraft Heinz, Chubb, and Japanese trading companies like Itochu. The Motley Fool+1
2. Q: How much is Buffett’s stake in Apple?
   A: Roughly 22–24% of Berkshire’s public equity portfolio; he holds hundreds of millions of shares. Valuesider
3. Q: Did Buffett buy any new stocks recently?
   A: Yes — in Q2 2025, Berkshire added UnitedHealth, Nucor, Lennar, DR Horton, Lamar Advertising, and Allegion. Yahoo Finance
4. Q: Why is UnitedHealth in Buffett’s portfolio?
   A: This reflects a bet on healthcare / health insurance. Buffett likely sees long-term value and secular growth in UnitedHealth’s business. Yahoo Finance
5. Q: Is Buffett reducing his stake in Apple?
   A: Yes — he has trimmed Apple, but it still remains his largest holding. The Motley Fool
6. Q: What sector does Buffett favor now?
   A: He still favors financials, consumer staples, and energy. But newer bets show interest in healthcare, industrials, and housing. Kiplinger
7. Q: How big is Berkshire’s cash pile?
   A: Very large — in early 2025, its cash and cash-equivalents were in the tens of billions, giving very high liquidity. Reddit
8. Q: Does Buffett invest in international companies?
   A: Yes — Berkshire owns significant stakes in Japanese trading houses like Itochu, Mitsubishi, Mitsui, and more. The Motley Fool
9. Q: What is Buffett’s exposure to energy?
   A: Substantial — via Chevron, Occidental Petroleum, and other energy-focused companies. Wealth Awesome
10. Q: What’s Buffett’s view on homebuilders?
    A: He’s increased bets in homebuilders (Lennar, DR Horton), indicating confidence in long-term housing demand. Yahoo Finance
11. Q: Will Buffett’s successors change his portfolio?
    A: Possibly — Ted Weschler and Todd Combs are already running significant parts of Berkshire’s investments, and their recent additions may reflect their vision. Kiplinger
12. Q: Does Berkshire invest in tech?
    A: Yes — Buffett has significant Apple exposure, and though cautious, he seems open to selective innovation. The Economic Times
13. Q: What’s Buffett’s largest non-U.S. holding?
    A: His big non-U.S. exposure is through Japanese trading companies: Itochu, Mitsubishi, Mitsui, etc. moneyature.com
14. Q: Is Buffett holding any small / speculative stocks?
    A: He does have several smaller positions (e.g., Lamar Advertising, Allegion), but the bulk of capital is in his top holdings. Nasdaq
15. Q: How often does Buffett change his portfolio?
    A: Changes tend to be deliberate and infrequent; he makes big moves when he sees deep value or major long-term trends.
16. Q: Does Buffett pay attention to quarterly earnings?
    A: He cares about fundamentals, but his investing style is long-term. He tends to focus more on business quality than short-term earnings swings.
17. Q: Are Berkshire’s recent buys Buffett’s ideas or his managers’?
    A: Likely both: big bets (like UnitedHealth) could be Buffett’s, while some smaller ones may come from his trusted managers, Weschler and Combs. AP News
18. Q: Why does Buffett like Coca-Cola so much?
    A: He values its global brand, steady cash flows, and long-term consistency. He’s held KO for decades. Investopedia
19. Q: How does Buffett’s portfolio reflect risk management?
    A: Through concentration in high-conviction businesses, large cash reserves, and exposure to defensive sectors (like consumer staples and energy).
20. Q: Will Buffett’s portfolio remain stable after he retires?
    A: It may evolve — but the core principles (value, concentration, high-quality businesses) are likely to remain. The recent additions already hint at a future beyond just Buffett.

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8. Why This Portfolio Matters for Investors Today

1. A Template for Long-Term Value
   • Buffett’s holdings can serve as a “menu” for long-term, quality investing — especially for those who prefer concentration over over-diversification.
2. A View into Macro Themes
   • New investments tell us where Buffett (or his successors) sees secular growth: healthcare (UnitedHealth), housing (Lennar / DR Horton), steel (Nucor).
3. Confidence in Established Business Models
   • Even in a fast-changing world, his trust in companies like Coca-Cola and American Express underscores his belief in durable moats.
4. Succession Signals
   • The transition from Buffett to Weschler / Combs may not drastically change the philosophy, but the portfolio tweaks reveal what the next generation values.

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9. Final Thoughts

Warren Buffett’s 2025 portfolio remains a masterclass in concentrated, long-term investing. While his biggest names (Apple, AmEx, Coca-Cola, Bank of America) continue to dominate, recent additions show he — or his successors — are not stuck in the past. Healthcare, homebuilding, and industrial plays are increasingly part of the mix.

Even as Buffett’s era comes to a close, his investment framework lives on: stable businesses, significant conviction, and deep patience. For investors, his portfolio is more than just a list of stocks — it’s a window into how to think about risk, value, and the future.