Berkshire Hathaway (Buffett)
holding-company, quality, buffett
Quarter Analysis
13F change notes for Berkshire Hathaway (Buffett) in 2025-12-31.
A textbook quiet Berkshire quarter — book up modestly to $274B, top five unchanged in shares (Apple, AmEx, BAC, KO, Moody's all held flat or barely trimmed), and zero new positions disclosed. Net signal is the slow trims in Apple (-4%) and BofA (-9%) continuing the multi-quarter de-risking of the two biggest financial / tech bets without changing their top-three status.
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★ HELD
APPLE INC AAPL
Another small -4% trim, but at +587% unrealized and still 22.6% of the book — the trims are tax-management more than thesis change.
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★ HELD
AMERICAN EXPRESS CO AXP
51 quarters, no share change, weight ticking up to 20.5% as the position compounds — long the most durable Berkshire holding by tenure.
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★ HELD
BANK AMERICA CORP BAC
Trimmed another 9% but still 10.4% of the book; this is the staged unwind that started in mid-2024, not a sudden exit.
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★ HELD
COCA COLA CO KO
Untouched for 51 straight quarters at +74% unrealized — the cleanest 'we will not sell this in our lifetime' holding.
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★ HELD
MOODYS CORP MCO
Untouched, +738% unrealized — the silent quality compounder in the corner of the book.
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• CONTEXT
No new positions, no exits worth flagging. The Alphabet add that defines Q1-2026 isn't visible yet here — this quarter is the calm before.