Berkshire did report some of its latest financials for the quarter ending 30 September 2025 more than two weeks ago. However, this report only told us that Buffett was a net seller of stocks over the quarter. We didn't know exactly which stocks he, or his two investing lieutenants, had actually been buying and selling.

Well, today, that veil has been lifted. Thanks to the company's most recent '13F' filing, we get to have a good look at what's been happening in the Berkshire portfolio.

What has Buffett been buying at Berkshire?

Well, as we've already established, Buffett did a whole lot more selling than buying. Many of Berkshire's top holdings were trimmed. This includes a significant US$10.6 billion sell-down of Apple shares, representing about 15% of Berkshire's position.

Even so, the iPhone-maker remains Berkshire's largest holding, with the company retaining a US$64.9 billion stake. That's roughly 21% of Berkshire's portfolio.

Berkshire also offloaded meaningful chunks of Bank of America, Verisign and D.R. Horton.

Although Buffett, or his underlings, were net sellers of stocks, they were still picking up some shares.

As my Fool colleague Kevin reported earlier today, the most significant new position for Berkshire was in Google-owner Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL). The filing shows that Berkshire initiated its first-ever position in Alphabet over the September quarter. The company recorded a US$4.34 billion position, or just over 17.8 million Class A shares, in Alphabet, as of 30 September.

Who really bought Alphabet stock?

This is a significant development for Berkshire, as Buffett has always shown, and discussed, a reluctance to invest in tech stocks. He famously pined about missing out on Alphabet's success back in 2019, and only initiated a small position in Amazon that same year.

Even the purchase was reportedly initiated by one of Buffett's lieutenants, Todd Combs or Ted Weschler. It's possible, even perhaps likely, that one of those two managers is responsible for the Alphabet purchase. Or perhaps it was a call made by the incoming CEO, Greg Abel. Abel is due to take the reins of Berkshire in January when Buffett sadly is scheduled to step back from the CEO role he has held since the 1960s.

We probably won't find out for a while, if at all.

Some other stocks Berkshire added to over the quarter just gone include Chubb, Domino's Pizza and Sirius XM.

Berkshire's five largest positions remain, in order: Apple, American Express, Bank of America, Coca-Cola and Chevron.

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Warren Buffett is one of the most widely followed investment managers in the world. And there's good reason for that. His 60-year run at Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) has been nothing short of phenomenal. Investors who followed Buffett into the company have realized a compound average annual return of about 20% since Buffett took over the business in 1965. That's nearly twice the average annual return of the S&P 500.

But it appears that Buffett has struggled in recent quarters to find great ways to deploy Berkshire's growing cash reserves. His potential best opportunities are getting only a small amount of capital infusion, as it appears that he's determined that many of the best large-cap stocks are overvalued. As a result, Berkshire put only $3.2 billion of cash into equities in the first quarter, leaving about $347 billion in cash and Treasury bill investments.

Some of that $3.2 billion went into an undisclosed stock exempted from disclosure by the Securities and Exchange Commission. The rest, which appears to be about $1.8 billion, went into seven different stocks reported on Berkshire's quarterly 13F filing.

One of those stocks stands out as an incredible value for investors right now, and it could be worth adding to your portfolio.

Here are the seven stocks Buffett just bought

Buffett admits he would love to buy more stocks. "Berkshire will never prefer ownership of cash-equivalent assets over the ownership of good businesses, whether controlled or only partially owned," he wrote in his letter to shareholders in February. But for Buffett to buy shares in a company, they must be offered, and offered at good value.

Evidently he saw only a handful of stocks that looked like good values last quarter. Here are the seven Berkshire has disclosed so far:

1. Heico
2. Verisign
3. Sirius XM
4. Pool Corp.
5. Domino's Pizza
6. Constellation Brands (NYSE: STZ)
7. Occidental Petroleum

It's worth pointing out that all of these businesses are relatively small. Occidental Petroleum sports the largest market cap of the group at $42 billion. And Berkshire already owns nearly 27% of that company.

Buffett doesn't see a lot of opportunities for Berkshire to invest tens of billions in a great company trading at a fair value. With Buffett strategically selling off some holdings while Berkshire's subsidiaries generate considerable free cash flow, the cash is piling up.

Everyday investors can invest as much money as they want in any of the seven companies above. But some of them are arguably better values than others, especially considering price movements since Buffett's purchases, some of which date all the way back to early January. Of the seven, there's one that looks like a particularly good value right now.

Here's the best of the bunch

All seven companies are great businesses. Each has at least one source of competitive advantage, and they generally trade for good value relative to earnings. But if I had to choose one of Buffett's latest purchases to invest my own money in, it would be Constellation Brands.

Constellation Brands is the owner of top Mexican beer brands like Corona and Modelo. It absolutely dominates U.S. sales for Mexican lagers. It also owns several wine and spirits brands, although its portfolio got a little bit smaller when it divested its mainstream wine brands earlier this month. Constellation is refocusing its portfolio on high-end brands. The beer business is its most important, accounting for over 80% of sales and over 90% of operating income in fiscal 2025.

It has a stranglehold on the Mexican beer import category in the U.S. The company said it accounts for over 90% of spending in the segment. And it's seen strong growth in sales for both Modelo and its smaller Pacifico brands over the past year, despite secular headwinds against the overall beer category. Total alcohol consumption appears to be declining, especially among younger generations, and new entrants like hard seltzer and ready-to-drink cocktails continue to eat into beer's market share.

Those headwinds and a new tariff this year on Mexican imports into the United States have led many investors to sell the stock. A disappointing earnings report in January didn't help, either. The stock currently trades more than 20% below where it started the year.

But the outlook for the business is strong. Management expects sales growth in the low-single-digit range over the next three years as the wine and spirits business continues to drag down the beer business. Strategic divestments over time could refocus more of the business on higher-margin and growth opportunities. Overall, management also expects its operating margin to expand 1 to 2 percentage points from last year's levels by 2028.

The expected net result is $6 billion to $7 billion in free-cash-flow generation over the next three years, and management has earmarked about $4 billion of that for share repurchases. That would reduce its current share count by over 13% at its current price. Management forecasts it'll buy up about 9% of shares outstanding over the next three years, with expectations that the price of the stock will rise.

Given the resilience of Constellation's beer brands and management's focus on capital returns and high-margin opportunities, investors should see strong earnings growth after adjusting for divestments. Nonetheless, the stock trades for less than 14 times forward earnings estimates. That makes it worth considering as an addition to any value investor's portfolio right now.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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One of the keys to Warren Buffett's phenomenal success over the years has been his willingness to buy stocks of good companies possessing long runways of future growth at discounted prices and then hold them for the long haul.

Using exactly that strategy, Buffett has generated aggregate gains of 3,641,613% since taking control of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) in 1965, for a 20.1% compound annual growth rate (CAGR). In comparison, the S&P 500 has generated 30,209% in total returns over that period, for a CAGR of 10.5%. In other words, there's a good reason Buffett is referred to as the Oracle of Omaha and people buy, sell, and hold the same stocks he does. 

Buffett was relatively late in buying tech stocks, but he's made up for that since. The following pair of companies represent some of his biggest tech holdings. They fit neatly within his strategy, and you can also buy and hold them for the long run.

Apple

Apple (NASDAQ: AAPL) is not only Buffett's biggest tech holding but his largest holding overall, representing a whopping 41% of Berkshire Hathaway's total portfolio. With almost 1 billion shares under his management, the investing oracle has accumulated $128.2 billion worth of Apple stock. With shares down 23% from recent highs and at some of the lowest prices in the past year, it's a stock you might want to consider acquiring for your own portfolio.

The weakness has to do with the new iPhone 14, which reportedly faces weakening demand. The company reportedly reversed plans to hike production because of it, but such bearishness is all relative. 

The iPhone, which was unveiled in September and starts at $1,000, is still selling quite well, beating out low-cost entry-level models elsewhere, and Apple is still planning to produce some 90 million iPhone 14s, which is in line with its original forecast for the device.

Apple still commands about half of the U.S. smartphone market, despite the iPhone getting long in the tooth after having been first introduced 15 years ago. And MacBook shipments are going against the grain, with market intelligence firm IDC reporting shipments surging 40.2% in the third quarter compared with a 15% decline in global PC shipments. 

Yet, as much as hardware remains a driving force for Apple, services are the real growth opportunity going forward. Services account for 20% of total sales, though the company is not immune to economic concerns. Analysts estimate App Store revenue dropped 5% in September due to a sharp decline in gaming revenue as inflation and recession fears take a toll on consumers. Growth may be a little slower now than it was, but margins are rising, and at 71.5%, well above Apple's 43.3% overall gross margins.

There will be ups and downs in any business, but Apple will be commanding a leadership position for years to come and would be a stock to consider now and in the future.

Verisign

Although Buffett first bought Verisign (NASDAQ: VRSN) nearly a decade ago, he has not accumulated nearly as much of its stock as he has of Apple's. He owns 12.8 million shares, worth some $2.3 billion. Not shabby, but it represents only 0.7% of the Berkshire portfolio, so its rise and fall won't have as great of an impact on performance. Still, it's one that investors ought to consider as well.

Verisign is the premier global provider of domain name registry services. It's the main company charged with doling out the .com, .edu, .gov, and .net domain names you find on the internet, while providing the routing support for them. Its behind-the-scenes operations basically point people to the correct website when they type in any site ending in those designations, helping to keep the world online and connected.

Verisign ended the second quarter with 351.5 million domain name registrations across all top-level domains, all of which pay a fee to it annually. It's been likened to the exclusive toll collector on the internet's "toll road," and it enjoys high-margin recurring revenue while having conversely low capital requirements, leading to very stable free cash flow generation.

There's no likelihood the internet is going anywhere, and its importance to business, even in the face of a potential recession, only continues to grow. Certainly, there was a massive uptick in the number of people starting their own businesses during the early months of the pandemic -- and registering their domain names -- that has since normalized, but that just underscores the long-term upward trajectory Verisign has at its back.

Buffett first bought Verisign in the fourth quarter of 2012, investing $143 million at an average of around $42 per share. With near monopoly-like status in its industry, careful stewardship of its business, and a cash-rich stream of revenue, the growth thesis behind Buffett's purchase of Verisign is still very much intact. With shares down 30% year to date, it may be the perfect time to buy your own stake, too.   

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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