How Warren Buffett's Five Core Holdings Dominate Berkshire Hathaway's Investment Portfolio

Understanding Buffett’s Enduring Investment Strategy

Warren Buffett may have stepped away from his CEO responsibilities, but his fingerprints remain all over Berkshire Hathaway’s investment strategy. Every holding in the current portfolio was acquired during his tenure, and more importantly, Buffett retains chairmanship and controls 30.4% of the company’s combined voting power. This makes it entirely accurate to view Berkshire’s positions as a direct reflection of Buffett’s investment philosophy.

As we enter 2026, a striking concentration emerges: nearly 65% of Berkshire Hathaway’s entire portfolio sits in just five stocks. These positions offer a masterclass in long-term value investing and reveal what the legendary investor genuinely believes in.

Apple: The Tech Giant That Remains Hard to Ignore

Despite significant reductions in recent years, Apple maintains its crown as Berkshire Hathaway’s single largest investment. The company holds 238,212,764 shares, representing 21.1% of the portfolio—a substantial commitment by any measure.

The iPhone ecosystem’s staying power continues to impress, with customer loyalty that remains difficult for competitors to replicate. Beyond smartphones, Apple’s reported work on smart glasses positions the company at the forefront of an emerging category. Incoming CEO Greg Abel will likely recognize that this position deserves to remain intact, even if some trimming continues.

American Express: A “Wonderful Business” Worth Keeping

Buffett has explicitly categorized American Express as a stock Berkshire would hold “indefinitely”—language that carries significant weight. The financial services firm ranks as the portfolio’s second-largest position at 18.3%.

This isn’t casual positioning. When Buffett identifies a “truly wonderful business,” his actions suggest holding it for decades, not years. American Express’s durable competitive advantages and consistent profitability likely ensure that Abel maintains the status quo with this holding.

Bank of America: Adapting to a New Leadership Era

Though Buffett’s enthusiasm for bank stocks has cooled in recent years, Berkshire maintains over $31 billion in Bank of America shares—comprising 10.2% of total holdings. The stock’s attractive forward price-to-earnings ratio of 12.7 suggests continued value at current levels.

Whether Abel will increase the position remains uncertain, but a significant reduction seems unlikely given the favorable valuation. Bank of America represents a steady, income-producing anchor within the broader portfolio.

Coca-Cola: A Generational Legacy Position

Few stocks embody Buffett’s personal investing narrative quite like The Coca-Cola Company. He’s held it longer than virtually any other security, and his genuine affinity for the product is well-documented. Berkshire’s 400 million share position makes Coca-Cola the portfolio’s fourth-largest holding.

Selling this stake would be shocking. The economic moat surrounding Coca-Cola’s brand and distribution network, combined with its consistent dividend performance, makes it exactly the type of “hold forever” investment that defines Buffett’s approach.

Chevron: Oil Exposure That Continues to Generate Returns

Among energy holdings, Chevron edges out other oil stocks in terms of portfolio weight. Berkshire owns over 122 million shares, ranking the energy giant fifth among its largest positions.

Buffett has trimmed Chevron periodically, suggesting Abel may consider adjustments. However, the 4.5% dividend yield provides substantial income to the conglomerate, likely ensuring that a meaningful stake persists regardless of future tactical adjustments.

The Broader Investment Thesis

These five positions collectively paint a picture of stability, income generation, and irreducible competitive advantages. From consumer staples to financial services to energy, Berkshire’s concentration reflects conviction in businesses that function as effective capital allocators across economic cycles. New leadership may fine-tune at the margins, but the core thesis underlying these holdings appears unlikely to shift fundamentally.