Warren Buffett’s Berkshire Hathaway BRK.A BRK.B just released its 13F for the fourth quarter of 2025. This 13F provides a snapshot of what Berkshire’s public stock portfolio looked like as Buffett retired at the end of that year.
Key Insights From Berkshire Hathaway’s Q4 2025 13F
- Berkshire initiated a new position in the New York Times Company NYT
- Buffett continued to scale back in top holdings Apple AAPL and Bank of America BAC
- Berkshire cut back its position in Amazon.com AMZN
Here’s a list of all the stocks that the team bought and sold according to the new 13F, along with four of Berkshire Hathaway’s holdings that look attractive to Morningstar’s analysts today.
Which Stocks Did Berkshire Hathaway Sell?
| Stock/Ticker | Sold Entirely or Trimmed? | Morningstar Rating for Stocks (as of Feb. 16, 2026) |
|---|---|---|
| Amazon.com AMZN | Trimmed | 4-stars |
| Aon AON | Trimmed | 3-stars |
| Apple AAPL | Trimmed | 3-stars |
| Atlanta Braves BATRK | Trimmed | 2-stars (quantitative rating) |
| Bank of America BAC | Trimmed | 3-stars |
| Constellation Brands STZ | Trimmed | 4-stars |
| DaVita DVA | Trimmed | 3-stars |
| Liberty Latin America LILA | Trimmed | 5-stars (quantitative rating) |
| Pool Corp POOL | Trimmed | 3-stars (quantitative rating) |
Berkshire continued to peel back its stakes in top-three holdings Apple and Bank of America last quarter. “Berkshire has been selling Apple since the start of September 2023 and Bank of America since the beginning of July 2024,” observes Morningstar senior analyst Gregg Warren. Despite the haircut, Apple remains Berkshire’s largest holding, for now—but maybe not for much longer, as number-two holding American Express AXP is nipping at Apple’s heels, thanks in part to Berkshire’s disinterest in selling any shares of what Buffett has called one of its “forever” stocks.
Buffett continued to trim Berkshire’s positions in a few other stocks last quarter, most notably selling more than three-fourths of the firm’s position in Amazon and scaling back in Constellation Brands, which Berkshire was still adding to as recently as the second quarter of 2025.
Which Stocks Did Berkshire Hathaway Buy?
| Stock/Ticker | New Position or Add to Existing? | Morningstar Rating for Stocks (as of Feb. 16, 2026) |
|---|---|---|
| Chevron CVX | Add to Existing | 3-stars |
| Chubb CB | Add to Existing | 2-stars |
| Domino’s Pizza DPZ | Add to Existing | 4-stars |
| Lamar Advertising LAMR | Add to Existing | 3-stars (quantitative rating) |
| New York Times Company NYT | New Position | 2-stars (quantitative rating) |
Berkshire took a new position in the New York Times Company during the final quarter of 2025. Berkshire’s purchase of more than 5 million shares makes it one of the publisher’s top shareholders behind big asset managers Vanguard, BlackRock, and T. Rowe Price. New York Times shares were up an impressive 35% in 2025, and while Morningstar’s analysts don’t actively cover the stock, it looks overvalued today according to Morningstar’s Quantitative Rating.
Berkshire continued to build its positions in Chevron, Chubb, Domino’s Pizza, and Lamar Advertising during the fourth quarter, all of which the firm had added to during prior quarters in 2025.
3 Warren Buffett Stocks to Buy and Hold Forever
4 Warren Buffett Stocks to Buy
Many of the stocks in Berkshire Hathaway’s portfolio look fairly valued or overvalued according to Morningstar’s analysts today. Here are three Buffett stocks that look undervalued as of Feb. 16, 2026:
Here’s a little bit about each of the Warren Buffett stocks to buy.
Diageo
- Morningstar Rating: 4-stars
- Morningstar Economic Moat Rating: Wide
- Morningstar Capital Allocation Rating: Standard
- Industry: Beverages—Wineries & Distilleries
Berkshire Hathaway’s position in Diageo is relatively modest; Buffett and his team first took a position in the stock during the first quarter of 2023. The consumer pullback in alcohol consumption has hurt Diageo’s performance recently, though the stock is up nearly 15% so far in 2026. We think Diageo has carved out a wide economic moat with its portfolio of leading brands that include Guinness, Captain Morgan, and Crown Royal. And we expect new CEO Dave Lewis, formerly of Tesco, to accelerate Daigeo’s portfolio repositioning and cost-savings initiatives. Even after this year’s rally, the stock trades 16% below our $118 fair value estimate.
Read Morningstar’s full report on Diageo.
Domino’s Pizza
- Morningstar Rating: 4-stars
- Morningstar Economic Moat Rating: Wide
- Morningstar Capital Allocation Rating: Exemplary
- Industry: Restaurants
Berkshire began building a position in Domino’s Pizza during the third quarter of 2024, and it appears that Berkshire now owns just under 10% of the company’s stock. Domino’s is the world’s largest pizza operator, and we think it has carved out a wide economic moat supported by intangible assets and cost advantages, says Morningstar analyst Ari Felhandler. We think the company is ready to capture a larger slice of the market against a challenging restaurant backdrop, as consumers gravitate toward its compelling value-oriented menu, he adds. Domino’s stock looks 14% undervalued relative to Morningstar’s $436 fair value estimate.
Read Morningstar’s full report on Domino’s Pizza.
Lennar
- Morningstar Rating: 4-stars
- Morningstar Economic Moat Rating: None
- Morningstar Capital Allocation Rating: Standard
- Industry: Residential Construction
Lennar is another smaller but undervalued holding in Berkshire Hathaway’s portfolio. The second-largest homebuilder in the US, Lennar struggled in 2025 thanks to the challenging housing market, where high mortgage rates decreased affordability. We expect continued sluggish growth in 2026 but are bullish on Lennar over the long term, forecasting gross margins to reach a historical norm of 26% by fiscal 2028. The stock is bouncing back, too, up 19% this year, but it still looks like a stock to buy as its shares trade 23% beneath our $159 fair value.
Read Morningstar’s full report on Lennar.
Moody’s
- Morningstar Rating: 4-stars
- Morningstar Economic Moat Rating: Wide
- Morningstar Capital Allocation Rating: Exemplary
- Industry: Financial Data & Stock Exchanges
Moody’s has been a longtime holding at Berkshire Hathaway (it’s also among the portfolio’s 10 largest positions), and the stock is currently trading at a rare 22% discount to Morningstar’s $550 fair value estimate. Moody’s is down 16% this year on fears that the rise of generative artificial intelligence will eat into the firm’s business, explains Morningstar analyst Rajiv Bhatia. But we think those concerns are overstated: We view wide-moat firms like Moody’s with proprietary data and benchmark businesses as mostly insulated from AI disruption-related risk. At today’s price, Moody’s qualifies as a high-quality Warren Buffett stock to buy.
