The Motley Fool·2026-01-09 09:06Core Viewpoint - The transition of leadership at Berkshire Hathaway from Warren Buffett to Greg Abel marks a new era for the company, with Abel committed to maintaining Buffett's investment philosophy of concentrating capital in high-quality ideas [1][2]. Investment Portfolio Overview - Berkshire Hathaway's investment portfolio totals $317 billion, with a significant concentration in eight key stocks that represent 74% ($234.5 billion) of the portfolio [3]. Key Holdings - Apple: Represents 20.1% of invested assets; despite being the largest holding, it has seen a 74% reduction in shares over the last two years, indicating a shift in investment strategy [4][6]. - American Express: Accounts for 18.2% of invested assets; known for its dual role as a payment facilitator and lender, it has a strong position among affluent customers, making it resilient during economic downturns [7][9]. - Bank of America: Comprises 10.2% of invested assets; the position has been reduced by 45% over five quarters, reflecting concerns over interest rate sensitivity amid a rate-easing cycle [11][13]. - Coca-Cola: Holds 8.6% of invested assets; its long-standing presence in the portfolio since 1988 is supported by a strong dividend yield and global market presence [14][15]. - Chevron: Represents 6.3% of invested assets; its integrated business model allows for stable cash flow, and it has a robust capital-return program with projected buybacks of $10 billion to $20 billion annually through 2030 [16][18]. - Moody's: Accounts for 4.1% of invested assets; it has performed well due to its debt rating services and analytics, benefiting from low interest rates in recent years [20][21]. - Occidental Petroleum: Comprises 3.4% of invested assets; it has a unique focus on upstream operations and is working to reduce its net debt position [23][25]. - Chubb: Represents 3.1% of invested assets; it focuses on high-end property and casualty insurance, allowing for premium pricing power and attractive margins [27][29].