Morningstar

Berkshire Hathaway: Apple, Bank of America, and Verisign Sales Offset by Alphabet and Chubb Buys

Berkshire reports net sales of roughly $7.9 billion for the third quarter.

A photograph featuring Warren Buffett speaking at an event.
Nati Harnik via AP
Securities in This Article
Berkshire Hathaway Inc Class A
(BRK.A)

Key Morningstar Metrics for Berkshire Hathaway

Berkshire 13F Update

Berkshire Hathaway BRK.A reported a few changes in its 13F equity investment portfolio for the third quarter, including selling more Apple and Bank of America shares while starting a new stake in Alphabet.

Why it matters: Based on our estimates, net sales came in at around $7.9 billion (composed of $13.1 billion of estimated sales and $5.2 billion of purchases). While this varied from the insurer’s reported net sales of $6.1 billion ($12.5 billion/$6.4 billion) in its recent 10-Q filing, the 13F only includes US reportable securities.

  • Among the major changes made during the September quarter was the sale of an additional 41.8 million shares of Apple for an estimated $9.6 billion, as well as the sale of another 37.2 million shares of Bank of America for an estimated $1.8 billion. Berkshire has been selling Apple since the start of September 2023, and Bank of America since the start of July 2024.
  • Berkshire also sold a third of its stake in VeriSign for an estimated $1.2 billion, 1.6 million shares of DaVita for $225 million, 0.2 million shares of Nucor for $27 million, and eliminated the firm’s stake in D.R. Horton for $222 million.
  • The insurer put new money to work in Alphabet’s Class A shares, buying 17.8 million shares for $3.7 billion, and increased its stake in Chubb by nearly 16% for $1.2 billion. Other additions included 0.3 million shares of Domino’s Pizza for $154 million, 5.0 million shares of Sirius XM for $116 million, 32,603 shares of Lamar Advertising for $4.0 billion, and 2,007 Lennar Class B shares for $237 million.

Key stats: Berkshire ended the third quarter of 2025 with $267.3 billion worth of reportable equity holdings, based on its 13F filing, which was up 3.8% from reportable equity holdings of $257.5 billion at the end of the second quarter.

Editor’s Note: This analysis was originally published as a stock note by Morningstar Equity Research.

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.

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