In a quarter defined by calculated retrenchment and specific value hunting, Warren Buffett’s Berkshire Hathaway (BRK.B) has significantly altered its exposure to the technology sector while reinforcing its commitment to energy and insurance.
According to the latest 13F filing released on February 17, 2026, Berkshire’s equity portfolio value stood at $274.16 billion as of December 31, 2025. While the turnover rate remained a disciplined 0.98%, the specific moves signal a distinct shift in sentiment: a massive slash in Amazon holdings, continued trimming of top-tier positions like Apple and Bank of America, and a notable new entry into the media landscape with The New York Times.
Here is the deep dive into the Oracle of Omaha’s latest capital allocation strategy.
Key Takeaways: The Q4 2025 Scorecard
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Portfolio Value: $274.16 Billion (Up from $267.3B in Q3 2025).
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Top Concentration: The top 10 holdings now account for 88.26% of the portfolio.
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The Big Sell: A massive 77.24% reduction in Amazon (AMZN).
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The New Buy: A fresh position in The New York Times Company (NYT).
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Sector Shift: Financials remain dominant (42.81%), but Technology exposure has been actively managed down.
The Headline Story: Slashing Amazon, Trimming the Crown Jewels
The most striking narrative from the Q4 data is Berkshire’s aggressive reduction in Amazon.com, Inc. (AMZN). Buffett unloaded 7.72 million shares, a staggering 77.24% reduction in the position. Berkshire now holds a mere 2.27 million shares valued at approximately $525 million. This move suggests a significant souring on the e-commerce and cloud giant's valuation or growth prospects after a holding period of nearly 7 years.
Concurrently, the "trimming" trend continued for Berkshire's two largest historical pillars:
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Apple Inc. (AAPL): Reduced by 4.32% (10.29 million shares sold). While still the largest holding at $61.96 billion (22.6% of portfolio), the gap between Apple and the number two holding, American Express, has narrowed significantly.
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Bank of America (BAC): Reduced by 8.94% (50.77 million shares sold).
These moves collectively removed over $7.3 billion in market value from the portfolio, raising cash and signaling a defensive posture regarding high-flying tech and banking valuations.
The Buyers' Club: Energy, Insurance, and "The Gray Lady"
While Buffett was a net seller of tech, he was an aggressive buyer of cash flows and tangible assets.
1. The Surprise Entrant: The New York Times (NYT)
In a classic Buffett move—buying a brand with a wide "moat" and subscription pricing power—Berkshire initiated a new position in The New York Times Company.
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Shares Bought: 5,065,744
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Value: ~$351.6 million
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Portfolio Impact: 0.13%
This is the only new position added in Q4 2025, signaling a specific conviction in the media giant's digital transformation and recurring revenue model.
2. Doubling Down on Energy and Insurance
Berkshire continued to pour capital into its favorite inflation hedges:
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Chevron (CVX): Increased by 6.63%, adding over $1.2 billion in value. It remains a top-5 holding at $19.8 billion.
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Chubb Limited (CB): Increased by 9.31%, adding $910 million.
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Domino's Pizza (DPZ): A high-conviction add of 12.34%, bringing the total stake to $1.39 billion.
Portfolio Composition: The "Big Four" Evolution
Despite the selling, the portfolio remains highly concentrated. However, the hierarchy is shifting. American Express (AXP) has become a formidable second pillar, now representing 20.46% of the portfolio ($56 billion), nearly rivaling Apple's 22.60%.
The Top 5 Holdings (as of 12/31/2025):
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Apple (AAPL): $61.96 Billion
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American Express (AXP): $56.08 Billion
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Bank of America (BAC): $28.45 Billion
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Coca-Cola (KO): $27.96 Billion
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Chevron (CVX): $19.83 Billion
Notably, Moody's (MCO) and Occidental Petroleum (OXY) remain untouched, reflecting Buffett's long-term comfort with these businesses.
Other Notable Exits and Reductions
The cleaning of the house extended beyond the mega-caps. Berkshire significantly reduced exposure to:
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Aon plc (AON): Reduced by 12.12%.
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Pool Corporation (POOL): Reduced by 11.28%.
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Atlanta Braves Holdings (BATRK): A massive cut of 48.39%, signaling a potential exit from the sports tracking stock.
Conclusion: A Defensive Pivot?
The Q4 2025 filing paints a picture of a portfolio manager who is wary of tech valuations and is rotating capital into "hard" assets (Energy), "sticky" services (Insurance, Subscriptions), and cash. The dramatic reduction in Amazon, combined with the steady selling of Apple and Bank of America, suggests Buffett sees better risk-adjusted returns in preserving capital than in chasing the current market leaders.
For investors following the 13Radar, the signal is clear: Quality over growth, and valuation discipline above all.
Data Source: 13Radar.com, Warren Buffett Portfolio.