Key Points
-
Warren Buffett hung up his work coat for the final time at the end of last year, paving the way for Greg Abel to take the reins and overhaul Berkshire Hathaway’s portfolio.
-
Several of the Oracle of Omaha’s core and “indefinite” holdings remain pillars of Berkshire’s $362 billion investment portfolio.
-
However, an artificial intelligence (AI) powerhouse and an energy duo are also playing key roles.
- Motley Fool Issues Rare “Total Conviction” Buy Alert ›
It’s been a year of historic change for Berkshire Hathaway (NYSE:BRKA)(NYSE:BRKB) and its shareholders. Longtime CEO Warren Buffett retired at the end of last year, handing the reins to the company’s day-to-day operations and its closely followed $362 billion investment portfolio to Greg Abel.
But while some things have changed — Abel dumped 16 of Berkshire’s non-core positions in the first quarter — one core principle has remained the same: portfolio concentration. As of the end of October, seven standout stocks accounted for nearly 71% ($255.2 billion) of Berkshire’s portfolio:
Missed AI’s “Act 1”? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn’t buy Nvidia in 2005. But according to our analysts, we’re only at the end of “Act 1″—the R&D phase. “Act 2” is the global rollout. Continue »
- Apple (NASDAQ:AAPL): $78.55 billion (21.7% of invested assets)
- American Express (NYSE:AXP): $48.38 billion (13.4%)
- Coca-Cola (NYSE:KO): $37.63 billion (10.4%)
- Alphabet (NASDAQ:GOOGL)(NASDAQ:GOOG): $29.61 billion (8.2%)
- Bank of America (NYSE:BAC): $24.17 billion (6.7%)
- Chevron (NYSE:CVX): $19.87 billion (5.5%)
- Occidental Petroleum (NYSE:OXY): $16.96 billion (4.7%)
Several of Warren Buffett’s legacy holdings remain pillars of Berkshire Hathaway’s portfolio. Image source: Getty Images.
The Oracle of Omaha’s legacy holdings aren’t going anywhere
Despite Warren Buffett retiring as CEO, several of his core or “indefinite” holdings have remained pillars in Berkshire Hathaway’s portfolio, including American Express, Coca-Cola, and Bank of America.
Coca-Cola and Amex are the two longest-held stocks in Berkshire’s portfolio (since 1988 and 1991, respectively), and two of the companies Buffett referred to as “indefinite” holdings in his 2023 annual letter to shareholders. Aside from both companies possessing well-defined competitive advantages, they’re generating jaw-dropping yields of 65% for Coca-Cola and 45% for Amex, relative to Berkshire’s cost basis for each company.
Though Bank of America isn’t guaranteed to stick around under Abel’s leadership, its share price premium to book value has notably declined over the last two months, and it’s ideally positioned to take advantage of a rising interest-rate environment.
Image source: Getty Images.
There’s a new “Apple” of Abel’s eye
Even though the Oracle of Omaha sold 75% of iPhone maker Apple’s shares in the nine quarters leading up to his retirement, it remains the undisputed No. 1 holding by market value. Aside from Apple’s market-leading $879 billion in cumulative share repurchases since the start of 2013, Abel appreciates its innovative capacity and believes it can be a multidecade compounder.
But since taking the reins in January, Abel has found a new “Apple” of his eye. While Buffett initiated Berkshire’s stake in Google’s parent Alphabet, it’s Abel who’s been relentlessly building this position through the first half of 2026.
Google Cloud is now growing 103% YoY.
Wow…
$GOOGL $GOOG https://t.co/u1uD8LuH4j
— Fiscal.ai (@Fiscal_ai) October 28, 2026
Although Alphabet possesses the sustainable moat that both Buffett and Abel love — Google accounts for about 90% of global internet traffic — it’s the integration of artificial intelligence (AI) solutions within Google Cloud that has Berkshire’s new boss excited. The substantially higher-margin Google Cloud more than doubled sales in the latest quarter.
Energy is a core theme
Lastly, energy remains a core theme, with Chevron and Occidental Petroleum collectively accounting for more than 10% of Berkshire Hathaway’s invested assets.
While both positions were entered well before Abel became CEO, don’t forget that Abel spent several years as CEO of MidAmerican Energy (later renamed Berkshire Hathaway Energy). He has a keen understanding of the global energy market and the growing demand for energy solutions in the wake of the AI data center build-out.
With Warren Buffett labeling Occidental as an “indefinite” holding, it’s unlikely to be sold.
Should you buy stock in Apple right now?
Before you buy stock in Apple, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Apple wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004… if you invested $1,000 at the time of our recommendation, you’d have $358,037!* Or when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $1,229,708!*
Now, it’s worth noting Stock Advisor’s total average return is 897% — a market-crushing outperformance compared to 211% for the S&P 500. Don’t miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of November 6, 2026.
Bank of America is an advertising partner of Motley Fool Money. American Express is an advertising partner of Motley Fool Money. Sean Williams has positions in Alphabet and Bank of America. The Motley Fool has positions in and recommends Alphabet, American Express, Apple, Berkshire Hathaway, and Chevron. The Motley Fool has a disclosure policy.
