Warren Buffett’s Top 20 Holdings: Inside the Oracle of Omaha’s Investment Strategy

What’s Really in Warren Buffett’s Portfolio in 2025?

Have you ever wondered what stocks the world’s most famous investor actually owns? I’ve been following Warren Buffett for years, and lemme tell you his portfolio is not what most people expect! Despite Buffett himself saying “the trick is to essentially buy all the big companies through the S&P 500” his Berkshire Hathaway portfolio does the exact opposite – it’s super concentrated with just a handful of major positions.

As of June 30, 2025, Berkshire Hathaway’s investments reveal a fascinating strategy that has made Buffett one of the richest people on earth. Let’s dive into his top 20 holdings and see what we can learn from the Oracle of Omaha.

The Big Picture: Concentration Over Diversification

Before jumping into the specific stocks here’s something that might surprise you – about 90% of Berkshire’s entire portfolio is in just 10 companies! That’s right despite what financial advisors tell everyday investors about diversification, Warren Buffett concentrates his bets heavily.

Warren Buffett’s Top 20 Holdings (As of June 2025)

1. Apple Inc (AAPL) – 26.56% of portfolio
2. American Express Co (AXP) – 19.63%
3. Bank of America Corp (BAC) – 11.38%
4. Coca-Cola Co (KO) – 9.93%
5. Chevron Corp (CVX) – 6.69%
6. Moody’s Corp (MCO) – 4.21%
7. Occidental Petroleum Corp (OXY) – 3.90%
8. Kraft Heinz Co (KHC) – 2.79%
9. Chubb Limited (CB) – 2.74%
10. DaVita Inc (DVA) – 1.43%
11. VeriSign Inc (VRSN) – 1.16%
12. Kroger Co (KR) – 1.13%
13. Visa Inc (V) – 0.98%
14. Sirius XM Holdings Inc (SIRI) – 0.92%
15. Amazon Com Inc (AMZN) – 0.87%
16. Mastercard Inc (MA) – 0.78%
17. Constellation Brands Inc (STZ) – 0.61%
18. UnitedHealth Group Inc (UNH) – 0.57%
19. Capital One Financial Corp (COF) – 0.55%
20. Aon Plc (AON) – 0.50%

Now let’s break down some of the most interesting observations about Buffett’s top holdings,

The Tech Giant: Apple Dominates

Apple makes up over a quarter (26.56%) of Berkshire’s entire portfolio. This is massive! For a guy who famously avoided tech stocks for decades, Buffett has gone all-in on Apple. At today’s price of $269.43, Berkshire’s Apple position represents his biggest conviction by far.

What’s intresting is that Buffett, who once proudly proclaimed he didn’t understand technology, now has his largest holding in a tech company. He’s referred to Apple not as a tech company but as a consumer products company with an incredibly loyal customer base. The ecosystem and brand loyalty are what he values.

Financial Services: A Buffett Mainstay

When you look at the portfolio, you’ll notice a ton of financial services companies:

• American Express (19.63%)
• Bank of America (11.38%)
• Moody’s (4.21%)
• Chubb (2.74%)
• Visa (0.98%)
• Mastercard (0.78%)
• Capital One (0.55%)
• Aon (0.50%)

All together, these financial stocks make up over 40% of Berkshire’s portfolio! Buffett has always loved financial services companies with strong competitive advantages, and his current holdings reflect this preference.

Consumer Brands With Staying Power

Coca-Cola has been in Buffett’s portfolio for decades and still accounts for almost 10% of the portfolio. Along with Kraft Heinz (2.79%), these consumer brands represent Buffett’s belief in companies with enduring products and strong brand recognition.

Buffett once said: “If you gave me $100 billion and said, ‘Take away the soft drink leadership of Coca-Cola in the world,’ I’d give it back to you and say it can’t be done.” That’s the kind of competitive advantage he looks for.

Energy Sector Bets

Buffett has significant energy investments with Chevron (6.69%) and Occidental Petroleum (3.90%) making up over 10% of the portfolio. These investments suggest Buffett sees value in traditional energy companies despite the global push toward renewables.

Surprising Holdings

Some surprising positions include:

1. Amazon (0.87%) – Another tech giant that Buffett previously avoided
2. UnitedHealth Group (0.57%) – A major player in the healthcare industry
3. Sirius XM Holdings (0.92%) – A satellite radio company that doesn’t seem like a typical Buffett pick

What’s Missing?

It’s also interesting to note what’s NOT in Buffett’s top holdings:

1. No pure AI plays despite the AI revolution
2. Limited exposure to healthcare besides DaVita and UnitedHealth
3. Very few industrial companies except for small positions
4. No major real estate investments in the public portfolio

Lessons We Can Learn From Buffett’s Holdings

1. Concentrate on Your Best Ideas

The concentration in Buffett’s portfolio is striking. Despite preaching index fund investing for average investors, Buffett himself focuses intensely on a small number of companies he understands well.

As he says, “Diversification is protection against ignorance. It makes little sense if you know what you are doing.”

2. Think Long-Term

Many of these positions have been in Berkshire’s portfolio for years or even decades. Coca-Cola has been a holding since the 1980s! Buffett doesn’t try to time the market or make quick trades – he buys businesses he wants to own forever.

3. Focus on Economic Moats

Almost every company in his top 20 has what Buffett calls an “economic moat” – a sustainable competitive advantage that protects it from competitors.

• Apple’s ecosystem and brand loyalty
• American Express’s closed-loop network
• Coca-Cola’s worldwide brand recognition
• Moody’s critical role in the financial system

4. Be Willing to Adapt

For years, Buffett avoided tech companies. Now Apple is his largest position and Amazon appears in his top 20. This shows that even at his age, Buffett is willing to evolve his thinking.

Recent Portfolio Changes

Comparing to previous filings, we can see some interesting movements:

• Increased positions in Apple and American Express
• Maintained steady positions in Coca-Cola and Bank of America
• Added to the Amazon position (which wasn’t always in the portfolio)
• Adjustments to financial services holdings

Would Buffett’s Strategy Work for You?

Here’s the million-dollar question (or billion-dollar, in Buffett’s case): Should you copy his approach?

Probably not exactly. Buffett has advantages most investors don’t:

1. Information access – Companies open their books to him
2. Special deals – He often gets preferred terms
3. Patience and timeframe – He can wait decades for returns
4. Huge capital base – Allows for certain types of investments
5. Exceptional analytical skills – Not everyone can analyze businesses like Buffett

But we can still learn from his principles:

• Invest in what you understand
• Look for companies with competitive advantages
• Think long-term
• Don’t follow the crowd

How to Track Berkshire’s Holdings

If your intrested in keeping up with Warren Buffett’s investments, here’s how:

1. 13F Filings – Berkshire must file these quarterly with the SEC
2. Berkshire’s Annual Letter – Buffett discusses his thinking
3. Financial News Sites – CNBC has a dedicated Berkshire Hathaway Portfolio Tracker
4. Berkshire Annual Meeting – The famous “Woodstock for Capitalists”

Final Thoughts: What Would Buffett Do?

When I look at Buffett’s portfolio, I’m reminded of his famous quote: “Be fearful when others are greedy, and greedy when others are fearful.” His concentrated bets show conviction when he believes in a company.

What’s fascinating is how his holdings reflect his investment philosophy so clearly. He doesn’t just talk about looking for great businesses at fair prices – his portfolio actually demonstrates it.

For us regular investors, maybe the biggest takeaway isn’t which specific stocks Buffett owns, but how he approaches investing: with patience, discipline, and a focus on fundamentals rather than market noise.

So next time your thinking about investments, maybe ask yourself: Would Warren Buffett buy this company? Does it have a durable competitive advantage? Am I paying a reasonable price? Would I be comfortable holding this for decades?

Those questions might be more valuable than simply copying his portfolio.

What do you think about Buffett’s top holdings? Are there any that surprised you? I’d love to hear your thoughts in the comments!

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The “Warren Buffett 80/20 rule” is a concept that, while not officially named by Buffett, is inspired by his investing strategy and productivity habits, which align with the Pareto Principle. It suggests that a large majority of investment returns come from a small number of investments, and in personal productivity, a small percentage of efforts yield most results.

Buffett’s favorites, the core holdings

Warren Buffett would invest in quality businesses with strong fundamentals at reasonable prices, similar to his current holdings in companies like Apple, American Express, and Coca-Cola. Recent investments show a focus on sectors like housing (Lennar, D.R. Horton), energy (Chevron), and health insurance (UnitedHealth Group), as well as the steel industry (Nucor).