Becker Private Equity & Business Podcast
Becker Private Equity & Business Podcast

Berkshire Hathaway & Their Big Holdings 2-26-26

2 min
•Feb 26, 2026about 2 months ago
Listen to Episode
Summary

Scott Becker discusses Berkshire Hathaway's major portfolio shifts, particularly their reduction in Apple and Bank of America holdings while increasing American Express exposure. The episode explores what these moves signal about how growth stocks like Apple are being repriced as cash cows in the current market.

Insights
  • Berkshire Hathaway's trimming of Apple and Bank of America stakes suggests a strategic pivot away from historically dominant positions, signaling potential market repricing of mega-cap tech
  • Apple and Amazon are transitioning from growth stock valuations to cash cow valuations, reflecting broader market sentiment shifts
  • American Express may become Berkshire Hathaway's largest holding by year-end, marking a significant portfolio rebalancing
  • Consumer preference and product quality (Peter Lynch's 'buy what you know' philosophy) can align with institutional investment thesis
Trends
Mega-cap tech stocks repricing from growth to cash cow valuationsInstitutional investors taking profits on long-held mega-cap positionsAmerican Express gaining prominence in major institutional portfoliosPortfolio rebalancing away from traditional tech holdings toward financial servicesMarket reassessment of Apple's growth trajectory and valuation
Companies
Berkshire Hathaway
Primary focus of episode; major institutional investor reducing Apple and Bank of America stakes while increasing Ame...
Apple
Historically Berkshire Hathaway's largest holding; being trimmed as it transitions from growth to cash cow valuation
Bank of America
One of Berkshire Hathaway's three largest historical holdings; currently being reduced in portfolio weighting
American Express
Predicted to become Berkshire Hathaway's largest holding by year-end; gaining portfolio prominence
Amazon
Referenced as growth company now being repriced as cash cow alongside Apple
Fidelity
Referenced in context of Peter Lynch's 'buy what you know' investment philosophy
People
Warren Buffett
Berkshire Hathaway leader whose long-term investment decisions and current portfolio shifts are discussed
Peter Lynch
Fidelity investor whose 'buy what you know' philosophy is referenced as investment framework
Scott Becker
Podcast host and analyst providing commentary on Berkshire Hathaway's portfolio movements
Quotes
"Over the years, Apple has been their biggest holding by far. One of their other three biggest holdings over the long period of time has been Bank of America and then American Express."
Scott Becker
"We find this absolutely fascinating to see what's happened sort of with Apple and Amazon, two companies that were always priced as growth companies, now getting priced more as cash cows versus growth companies."
Scott Becker
"If that guided my investment thinking, I would quite frankly be all in on Amex because I find them so easy to use as a consumer and such a pleasure."
Scott Becker
"The big news here is Berkshire Hathaway and their big holdings, the movement away from Apple, the movement away from Bank of America, and the movement towards American Express."
Scott Becker
Full Transcript
This is Scott Becker with the Becker Business, Becker Private Equity Podcast. Today's discussion is Berkshire Hathaway and their big holdings. So here's the deal with Berkshire Hathaway. Over the years, Apple has been their biggest holding by far. One of their other three biggest holdings over the long period of time has been Bank of America and then American Express. So those are the three biggest holdings. Now, what's happened over the years under the Warren Buffett years for a very long time, Apple was their top holding. What's happened now is they keep on trimming their stakes in Apple and Bank of America. And some people predict that their biggest holding by the end of the year is likely to be American Express versus Apple or B of A or another company. We find this absolutely fascinating to see what's happened sort of with Apple and Amazon, two companies that were always priced as growth companies, now getting priced more as cash cows versus growth companies. And fascinating to see this and to see companies like Berkshire Hathaway start to take some chips off the table when it comes to Apple. Amex, of course, we're avid Amex customers. We love Amex as a consumer. If I went back to the old days, I would say that like Peter Lynch had this investing style at Fidelity that said, buy what you know, what you like as a consumer. If that guided my investment thinking, I would quite frankly be all in on Amex because I find them so easy to use as a consumer and such a pleasure. But again, the big news here is Berkshire Hathaway and their big holdings, the movement away from Apple, the movement away from Bank of America, and the movement towards American Express. We find this fascinating. Thank you for listening to the Becker Business, the Becker Private Equity Podcast, and God bless you every day. And thank you to our fantastic producer, Chanel Bunger, the best in the business. Thank you so much for being with us every day, Chanel. Thank you for listening.