Berkshire Hathaway’s (BRK.A, BRK.B) latest 13F filing delivered just the kind of signal for which Warren Buffett is famous.
Following years of leaning on Apple (AAPL) as the crown jewel of its stock portfolio, the firm has just trimmed its stake again, continuing a trend that has quietly reshaped its portfolio.
For a little perspective, Buffet has been known to rave about Apple’s brand equity, calling it “a better business than any we own.”
At the same time, Berkshire just opened up a new multibillion-dollar position in Google-parent Alphabet (GOOGL), the firm’s biggest tech swing since the original Apple bet.
The moves weren’t subtle and raise some real questions about how Buffett’s firm views the AI boom and the out-of-hand valuations in Big Tech, while balancing opportunity and concentration risks.
Also, with Buffett handing over the CEO reins to Greg Abel, the timing of the move makes the pivot feel more consequential.
Berkshire Hathaway opened a new position in Alphabet and reduced its long-held stake in Apple during the third quarter.Photo by Bloomberg on Getty Images
Berkshire’s latest 13F is impossible to miss, where it’s finally easing off its long-running Apple obsession while quietly planting a massive $4.3 to $4.4 billion flag in Google stock.
It disclosed a surprising new position of nearly 17.85–17.9 million Alphabet Class C shares, a stake that’s big enough to drop it straight into Berkshire’s top-10 holdings, while instantly claiming almost 1.4% of its total stock portfolio.
At the same time, Berkshire just trimmed its Apple stake again, selling off nearly 41-42 million shares in Q3, representing over a 15% reduction, with its position now down to 238.2 million shares.
Nonetheless, Apple remains the undisputed king in its power-packed portfolio, still tracking at nearly $60 to $61 billion, accounting for 23% of Berkshire’s disclosed stock holdings at quarter-end.
Here’s exactly where the real money sits inside Berkshire’s stock portfolio, with the sheer scale making the recent Alphabet move even more interesting:
Apple (AAPL) Shares: 238.2 million Value: $60.7 billion
American Express (AXP) Shares: 151.6 million Value: $50.4 billion
Bank of America (BAC) Shares: 568.1 million Value: $29.3 billion
Coca-Cola (KO) Shares: 400 million Value: $26.5 billion
Chevron (CVX) Shares: 122.1 million Value: $19.0 billion
Now the new newcomer: Alphabet (GOOGL)
Shares: 17.85 million
Value: $4.34 billion
Google stock just became Berkshire’s biggest tech bet since Apple, and the timing shows why.
The stock has surged nearly 45% to 50% in 2025 on the back of renewed confidence in Google’s potent AI strategy and healthier fundamentals.
Alphabet is fresh off the heels of posting its first-ever $100 billion quarter, led by a tremendous expansion of Google Cloud, along with its expanding generative AI lineup.
Additionally, Gemini is being rolled out across Search and Workspace, and AI Overviews are now reaching a whopping 2 billion users, resulting in a stellar 10% increase in global queries. So in many ways, Google isn’t a “maybe someday” AI story, but one that’s already spinning off cash at a breathtaking scale.
At the same time, Berkshire reduced its stake in Apple, with its position dropping by nearly two-thirds from its 2023 peak.
What changed in Q3 was Apple’s stock, which leapt up nearly 20%, giving Buffett’s firm a cleaner window to efficiently rebalance and free up liquidity.
The message? Berkshire continues to recognize that even a favorite can become too big to ignore when the stock market hands you gains.
To understand Berkshire’s Q3 moves, it’s imperative to pull back and assess the bigger pattern.
Judging from Berkshire’s Q3 earnings print, the reshuffling was less of an isolated portfolio tweak, but more a part of a three-year habit.
More Warren Buffett:
Q3 was the 12th consecutive quarter where Berkshire sold off more stock than it bought, continuing a stretch that has been defined by discipline.
Buffett and his team moved another $12.5 billion out of stocks and put $6.4 billion to work, widening their massive cash pile even further.
Here’s what Berkshire had humming behind the scenes while it continued selling stocks:
Net income: Up 17% year over year to $30.8 billion.
Operating earnings: Buffett’s go-to metric surged 34% to $13.5 billion, due to a major rebound in insurance underwriting.
Cash and equivalents: A record-shattering $381.7 billion, trumping most S&P 500 companies.
Insurance: Underwriting profit more than tripled.
BNSF rail: Earnings up about 5%.
Berkshire Hathaway Energy: Down 9%, due to wildfire-related costs.
In short, the business is booming, spearheaded by a growing cash till and minimal buying.
Greg Abel steps up as CEO of Berkshire at year-end with a clear mandate.
He aims to stay disciplined and selective, and isn’t pressured to deploy money just because Berkshire has more of it than ever.
Buffett’s “I’m going quiet” final shareholder letter made that clear, signaling his confidence in Abel and a belief that the firm’s incredible size limits flashy moves.
It’s not about chasing trends, but about giving Abel maximum flexibility as Buffet hands over optionality, the one edge Berkshire still has over just about everyone else.
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