Feb 21, 2026 · 12 min · 12 segments
Warren Buffett's final quarter as CEO of Berkshire Hathaway is in the books — and the 13F tells an interesting story. In this video, we walk through every buy and sell Berkshire made in Q4 2025…
We just got wind of Berkshire Hathaway's latest 13F, which is a big one because it's Warren Buffett's very last as CEO.
And after 60 plus years running Berkshire, and for you nitpickers out there, I say Berkshire because that's how Warren and Charlie say it.
Berkshire.
Berkshire.
Berkshire.
So let's get into it and some things you can take away from this.
But a quick thing first about the 13Fs.
All that it does is it shows what a fund manager with over $100 million owned at the end of the quarter.
That's it.
You have no idea why they bought or sold anything unless they specifically say so.
And that matters because if you copy any of their trades without conviction, you could panic sell when they do, not realizing they're just moving money somewhere better.
And it's also up to 45 days old.
Bonds and short positions aren't in there.
And neither are foreign stocks traded on foreign exchanges.
Because Berkshire has positions in five Japanese companies and none of this shows on the 13F.
So you're seeing a slice and not the whole picture.
He had two other managers, Todd Combs and Ted Wexler, who handled about 10% of the portfolio.
Don't go anywhere, because we'll come back to Combs.
We just got wind of Berkshire Hathaway's latest 13F, which is a big one because it's Warren Buffett's very last as CEO.
And after 60 plus years running Berkshire, and for you nitpickers out there, I say Berkshire because that's how Warren and Charlie say it.
Berkshire.
Berkshire.
Berkshire.
So let's get into it and some things you can take away from this.
But a quick thing first about the 13Fs.
All that it does is it shows what a fund manager with over $100 million owned at the end of the quarter.
That's it.
You have no idea why they bought or sold anything unless they specifically say so.
And that matters because if you copy any of their trades without conviction, you could panic sell when they do, not realizing they're just moving money somewhere better.
And it's also up to 45 days old.
Bonds and short positions aren't in there.
And neither are foreign stocks traded on foreign exchanges.
Because Berkshire has positions in five Japanese companies and none of this shows on the 13F.
So you're seeing a slice and not the whole picture.
He had two other managers, Todd Combs and Ted Wexler, who handled about 10% of the portfolio.
Don't go anywhere, because we'll come back to Combs.
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