Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) just pulled off another classic Buffett movecashing out while the crowd piles in. In Q1 2025, the Oracle of Omaha sold $4.7 billion in equities and added nothing to share buybacks. This isn’t panicit’s patience. Berkshire’s war chest swelled to a record $348 billion as the company braced for volatility. But it came at a cost: operating earnings dropped 14% to $9.6 billion, dragged down by a $1.1 billion insurance loss from the devastating California wildfires.
Still, the big picture is hiding in plain sight: Buffett isn’t abandoning equities altogetherhe’s concentrating. A pie chart of Berkshire’s $264 billion equity portfolio as of December 31, 2024, reveals one jaw-dropping fact: Apple (AAPL) alone makes up over 28%, worth $75.1 billion.
That’s more than the next twoAmerican Express (NYSE:AXP) and Bank of America (NYSE:BAC)combined. It’s not diversification; it’s conviction. While he trims elsewhere, Apple, Coca-Cola (NYSE:KO), and energy names like Occidental (NYSE:OXY) and Chevron (NYSE:CVX) still anchor the portfolio, revealing where Buffett sees pricing power and moat.
And then there’s the geopolitical edge. Buffett didn’t mince words in March, calling tariffs an act of war and brushing off claims he backs Trump’s economic playbook. With 40,000 shareholders descending on Omaha this weekendand A-listers like Tim Cook and Hillary Clinton rumored to be attendingthe annual meeting isn’t just about numbers. It’s a live read on Buffett’s worldview. For now, the message is clear: raise cash, protect the compounders, and wait for better pitches.
This article first appeared on GuruFocus.