Berkshire sells more Apple and reveals $4.3b stake in Alphabet

• Overall, Berkshire listed $283.2b in US-listed equity holdings for the period ending September 30.
• During the third quarter, Berkshire purchased $6.4b in stocks while selling $12.b —marking the twelfth consecutive quarter as a net seller—and boosting its cash reserves to a record $381.7b.
• Berkshire also trims its stake in Bank of America by 6%, and sold its position in homebuilder DR Horton.

Berkshire Hathaway has disclosed a new $4.3 billion stake in Alphabet, the parent company of Google, and further reduced its position in Apple, as the conglomerate details its equity portfolio for the last time before Warren Buffett steps down after 60-year tenure as chief executive.

In a filing late Friday with the US Securities and Exchange Commission, Berkshire reported owning 17.85 million Alphabet shares as of September 30, 2025.

The disclosure marks a notable shift for Berkshire, whose chairman and CEO, Warren Buffett, has long favoured value stocks and typically steered clear of most technology companies—Apple being the key exception, owing to what Buffett has described as its consumer-products strength.

Despite selling nearly three-quarters of the more than 900 million Apple shares it once held, Apple remained Berkshire’s largest stock holding at 238.2 million shares, representing $60.7 billion at quarter−end. Overall, Berkshire listed $283.2 billion in US-listed equity holdings for the period ending September 30.

Buffett effect

Buffett, or his investment lieutenants Todd Combs and Ted Weschler, are credited with portfolio decisions, though the filing does not specify who initiated the Alphabet trade. The move is striking given that both Buffett and the late Vice Chairman Charlie Munger had previously lamented missing out on Alphabet in earlier years, recognising its business parallels with Berkshire’s Geico car insurance.

After news of Berkshire’s stake, Alphabet shares gained 1.7 per cent in after-hours trading, as investors frequently interpret the “Buffett effect” as a positive sign for newly added companies.

During the third quarter, Berkshire purchased $6.4 billion in stocks while selling $12.5 billion—marking the twelfth consecutive quarter as a net seller—and boosting its cash reserves to a record $381.7 billion.

The Apple sell-off represented a major portion of those sales. Berkshire also trimmed its stake in Bank of America by 6%, and sold its position in homebuilder DR Horton. Meanwhile, it increased holdings in several companies, including insurer Chubb and Domino’s Pizza.

Buffett, now preparing to transfer the reins of the $1.1 trillion conglomerate to vice chairman and CEO-designate Greg Abel on January 1, has continued a cautious approach amid high market valuations.

Berkshire, which operates nearly 200 businesses including BNSF Railroad, Dairy Queen, and See’s Candies, has not executed a major acquisition in nearly a decade and has held off on significant share buybacks for over a year.

With Buffett’s retirement imminent, investors will be watching closely to see how Berkshire’s investment strategy and portfolio evolve under new leadership.