has warren buffett been selling stock

Has Warren Buffett been selling stock? Yes — Berkshire Hathaway has shown a multi-quarter pattern of net selling in recent years, building a large cash balance while trimming or exiting several maj...

2025-11-03 16:00:00

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Has Warren Buffett been selling stock is a question many investors ask when Berkshire Hathaway’s filings and quarterly reports show portfolio changes. This article answers whether has warren buffett been selling stock, what was sold or reduced, the timing and scale of those moves, the cash effects, and how to track them using public filings. Read on to understand recent selling trends, notable sales and buys, the stated and inferred reasons, and the implications for investors.

Background

Warren Buffett is the longtime chair and (until late 2025) chief executive of Berkshire Hathaway, a conglomerate that owns businesses outright and holds large public-equity positions. Berkshire’s public-equity portfolio has been managed by Buffett together with senior investment deputies over many years. Investors learn about Berkshire’s public stock trades through regulatory filings (most notably quarterly SEC Form 13F filings), Berkshire’s quarterly and annual reports (Form 10-Q and 10-K), and Buffett’s shareholder letters and earnings releases.

Short answer: Has Warren Buffett been selling stock?

Yes. Over recent reporting periods investors and media have repeatedly asked has warren buffett been selling stock. Berkshire Hathaway reported consecutive quarters and multiple years of net selling in its public-equity portfolio, while simultaneously increasing its cash and short-term Treasury holdings to historically large levels. The selling has included reductions in long-held positions as well as exits of smaller stakes, combined with selective purchases of other companies.

Overview of the selling trend

Beginning in 2022 and becoming more pronounced through 2023–2025, Berkshire showed a pattern of net selling in public equities. As of late 2025, major financial outlets reported that Berkshire sold multiple tens of billions of dollars of stocks over extended periods. For example, has warren buffett been selling stock surfaced repeatedly in headlines as analysts tracked quarterly 13F snapshots that revealed large sales totals and a cash hoard swelling into the hundreds of billions of dollars.

As of November 2025, according to Fortune, Berkshire held nearly $382 billion in cash and short-term Treasuries. As of October 2025, multiple outlets reported more than $24 billion of stock sales through the first nine months of 2025 alone (reported figures vary slightly by outlet and filing date). That shift toward cash came amid debates about market valuation metrics such as the Shiller cyclically adjusted P/E (CAPE) ratio and investors’ concerns about high equity valuations while corporate investment for AI and other large projects was expanding.

Timeline of notable selling activity

Early years and prior disposition (pre-2022)

Berkshire historically followed a buy-and-hold approach for many marquee holdings (for example, long-term positions in companies such as Coca-Cola and American Express). Before the selling pattern that began in 2022, Berkshire occasionally trimmed positions for portfolio management reasons but generally favored long-term ownership. Questions like has warren buffett been selling stock were less frequent during long stretches when Berkshire largely maintained its major holdings.

2022–2024: Start of persistent net selling

Beginning in 2022 Berkshire’s public-equity portfolio started to show sustained net selling in quarterly 13F filings. Reported reductions attracted attention because Berkshire trimmed stakes in notable companies and because its cash balance began to grow. Analysts and reporters who asked has warren buffett been selling stock in this period pointed to portfolio rebalancing, valuation concerns, and tax- or timing-related sales as common explanations offered by commentators.

2025: Significant sales and statistics

During 2025 the scale of sales and the accumulation of cash became especially newsworthy. As of October 2025, media outlets reported that Berkshire had sold more than $24 billion of U.S. equities through the first nine months of 2025, and some quarters included single-quarter sell totals in the multi‑billion-dollar range. Those reports fed repeated inquiries: has warren buffett been selling stock became a regular headline theme. At the same time, Berkshire’s cash and short-term Treasuries reportedly reached levels in the mid-to-high hundreds of billions (reports commonly cited figures near $350–$400 billion, with one widely referenced figure being approximately $382 billion as of November 2025), which analysts noted gave Berkshire the ability to pursue a large acquisition if one matched its price criteria.

Late 2025–early 2026: Transition and context

In late 2025 Warren Buffett announced a leadership transition with Greg Abel assuming company leadership. During and after that transition, coverage of whether has warren buffett been selling stock continued, often framed around whether management planned to deploy the cash hoard or continue valuing patience. Public commentary emphasized that Berkshire’s management, including Buffett and his deputies, repeatedly stated a preference for holding cash until a suitably priced "elephant" acquisition emerged.

Major stocks sold or reduced

Media reporting and 13F filings show several high-profile reductions and some full disposals. Examples widely covered in financial press include:

Apple — Buffett’s largest single-equity holding historically. In recent periods Berkshire reduced its Apple position in staged transactions. Those reductions propelled many headlines asking has warren buffett been selling stock in Apple specifically.
Bank of America — Berkshire’s sizable bank stake saw occasional trims; reports noted reductions in certain quarters.
Ulta — Berkshire made a relatively quick entry and exit in Ulta Beauty in some reporting cycles; press coverage highlighted the juxtaposition versus Buffett’s long-term pattern.
HP and Paramount — Some smaller or mid-size public holdings were reportedly sold in full in recent filings, depending on the quarter; those disposals contributed to overall net selling totals.

Each sale varied in timing and scale. The cumulative effect of many trims and some full exits drove the headline totals associated with the question has warren buffett been selling stock.

Notable purchases and additions (concurrent with sales)

Berkshire’s activity was not pure disinvestment. While net selling dominated several reporting periods, Berkshire also added to and initiated positions in other names. Notable purchases that appeared in filings and press reports included:

Occidental Petroleum — continued interest, including corporate arrangements related to OxyChem in prior years and further adjustments in concentration.
Alphabet — Berkshire added to or held positions in Google parent company stock in some quarters.
Lennar and Constellation Brands — selective increases or new stakes were reported by some outlets.

Those purchases underscore that the firm’s activity answered the specific question has warren buffett been selling stock with nuance: Berkshire sold many positions but still bought or added where management saw value.

Stated and inferred reasons for selling

Berkshire’s public statements and analysts’ commentary offer several explanations for the selling pattern:

Valuation concerns: Rising market-wide valuations — often measured against cyclically adjusted P/E metrics such as the Shiller CAPE — prompted caution. Some commentators connected the sales to Berkshire’s view that equity prices were elevated relative to historical norms.
Cash as strategic flexibility: Buffett has described cash as "oxygen" for an enterprise that wants to be ready to act if a very large, attractively-priced acquisition becomes available. Accumulating cash through sales provides that optionality.
Portfolio rebalancing: Co-managers and deputies at Berkshire periodically rebalance holdings for risk management or to adjust concentration levels.
Tax- or timing-related reasons: In public commentary about specific trades, Berkshire has sometimes indicated that sales reflected tax, timing, or other practical considerations (for example, locking in gains or reallocating capital to other opportunities).

Press coverage framing the question has warren buffett been selling stock often mixed direct quotes from Berkshire with analyst inferences about valuation and opportunity cost.

Cash position and portfolio effects

The most visible portfolio effect of the selling has been Berkshire’s large cash and short-term Treasury balance. As of November 2025, Fortune reported Berkshire’s cash and equivalents near $382 billion. Other outlets reported similar mid-to-high hundreds of billions figures depending on the precise reporting date. That cash cushion changed Berkshire’s asset allocation, reducing public-equity exposure as a share of total investments while increasing the company’s liquidity and perceived ability to fund large acquisitions or withstand market volatility.

On the income statement, having more cash and fewer equities can lower realized investment income when stock dividends or buybacks would otherwise have contributed, while increasing interest income from Treasuries (although at typically lower rates than equity returns in the long run). The portfolio shift therefore had implications for Berkshire’s reported investment performance in the short term and for its strategic posture in the medium term.

Disclosure, reporting, and how trades are tracked

Investors and reporters track Berkshire’s trades primarily through:

SEC Form 13F — institutional investment managers must file quarterly holdings in Form 13F; Berkshire’s 13F shows reported positions in U.S.-listed equities but is a lagged snapshot that may not capture intra-quarter changes.
Quarterly and annual reports (Form 10-Q and 10-K) — Berkshire’s regulatory reports and financial statements describe cash balances and may comment on investment results and material transactions.
Shareholder letters and earnings commentary — Buffett’s and Berkshire’s annual letters remain a primary qualitative source for strategy and large decisions, though the letters do not list every trade.
Earnings calls and press releases — management sometimes comments on significant events or trends, which media then report on.

Limitations: Form 13F filings are filed quarterly and do not show options or short positions; they are lagged and present end-of-quarter positions only. As a result, observers asking has warren buffett been selling stock should recognize that filings give a partial and delayed view of actual trading activity.

Market and media reaction

Media coverage of Berkshire’s selling often framed the activity as a signal about valuations and macro concerns. Some journalists and analysts interpreted large sales and the rising cash balance as Buffett signaling caution about the market’s valuation level — headlines frequently asked has warren buffett been selling stock as shorthand for that interpretive question.

Other commentators argued that Berkshire was simply reallocating capital on a large scale and that selective purchases showed ongoing investment judgment rather than blanket pessimism. Analysts also weighed the performance cost of selling winners (for example, trimming Apple) against the benefit of having dry powder for future deals.

Implications for investors

For individual investors observing Berkshire’s activity and asking has warren buffett been selling stock, there are several neutral takeaways often discussed by commentators (these are illustrative observations, not investment advice):

Valuation discipline matters: Berkshire’s sales reinforced a theme of valuation discipline — management appears willing to hold cash if prices are not attractive.
Cash provides optionality: A large cash balance gives management the ability to act decisively if a large acquisition appears at the right price.
Long-term perspective remains central: Despite selling, Berkshire’s long-term businesses and selected equity holdings continue to produce diversified cash flow, reinforcing Berkshire’s hybrid conglomerate-and-investment model.

Observers who ask has warren buffett been selling stock should combine filings-based evidence with Berkshire’s public statements and the limits of reporting when forming a view about the company’s strategy.

Controversies, criticisms, and alternate views

Critics and alternate-interpretation analysts raised several points in response to Berkshire’s selling:

Timing and opportunity cost: Some argued that trimming winners, such as parts of the Apple stake, may have reduced later gains compared with a buy-and-hold approach.
Managerial vs. tax motivations: Others suggested that some sales could reflect tax or practical portfolio-management reasons rather than pure valuation judgments.
Different reads on signaling: While many read the sales as caution, some analysts emphasized that Berkshire’s selective buying showed opportunism rather than blanket market pessimism.

Notes on data and limitations

Reported dollar totals and cash-balance figures vary slightly across outlets because different reports reference different reporting dates and filings. Form 13F filings are quarterly and present end-of-quarter snapshots; they are therefore lagged and partial. Berkshire and Buffett do not typically explain every trade at the moment it occurs, so public explanations often arrive with delay or are inferred by analysts. When you read coverage asking has warren buffett been selling stock, check the filing date and the outlet’s source documents for the most accurate reconciliation.

Practical tracking checklist

Follow Berkshire’s latest SEC filings (13F for holdings, 10-Q/10-K for cash and commentary).
Read Berkshire’s shareholder letters for management perspective on strategy.
Compare end-of-quarter 13F snapshots across quarters to see trims, sells, and buys.
Note that intra-quarter trades may not appear until the next 13F filing.

How this affects market commentary

When financial media asks has warren buffett been selling stock, they typically intend to surface a larger question about market valuation and investor sentiment. Berkshire’s selling and cash build-up influenced market tone by providing a high-profile example of valuation-driven capital allocation. That said, Berkshire’s actions must be interpreted alongside its continued ownership of core businesses and selective investments.

Next steps: Where to learn more

To confirm the latest figures and filings yourself, consult Berkshire Hathaway’s SEC filings and recent shareholder communications. For market access and tools to track publicly reported holdings or to review market data, consider platforms that provide timely market information and trading access; if you trade publicly listed assets, explore reputable exchanges and custodial wallets that meet your security, regulatory, and usability needs. For users interested in crypto-native custody and trading features, Bitget Wallet offers an integrated experience for Web3 assets and Bitget exchange services support broad market access and liquidity solutions.

Reporting dates: As of November 2025, Fortune reported Berkshire’s near-$382 billion cash and short-term Treasury balance. As of October 2025, several outlets aggregated 2025 sell totals exceeding $24 billion through the first nine months (source filings and media reports vary by date). Always confirm with Berkshire’s filings for the exact dates and amounts.

This article is informational and neutral. It does not provide investment advice. Data cited above are drawn from Berkshire’s public filings and contemporary media reports; filings are the primary authoritative source for exact trade amounts and dates.

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