Warren Buffett’s Berkshire Hathaway has released its latest portfolio update, revealing $308.9 billion in equity holdings and an unprecedented cash pile of $381.7 billion as of September 30.
Apple (NASDAQ: AAPL) remains Berkshire’s largest holding at roughly $64.6 billion, representing more than one-fifth of the entire stock portfolio.
Bank of America follows at nearly $29.9 billion, while major positions such as American Express, Coca-Cola, and Chevron also continue to anchor the portfolio. Berkshire’s Japanese trading house bets, like Mitsubishi, Mitsui & Co., and Sumitomo, remain sizable as well.
Berkshire Hathaway record cash pile
Despite these heavyweight positions, the most striking figure is the record $381.7 billion in cash, up more than 10% from the previous quarter.
Notably, Berkshire’s massive cash buffer signals Buffett is waiting for market stress to create better opportunities. With stocks near record highs and bond yields rising, the company is potentially prioritizing safety and flexibility over aggressive buying.
Buffett has long argued that cash lets Berkshire act quickly when markets dislocate, and today’s mix of high valuations, economic uncertainty and a lack of attractively priced acquisitions explains why he’s holding more cash than ever. Rather than chase expensive stocks, he’s staying patient until real value emerges.
Berkshire’s positioning comes as it enters a major leadership transition. In this line, Buffett will retire as CEO at the end of 2025 and hand control to Greg Abel on January 1, 2026, though he will stay on as chairman and has said he won’t sell his stake.
He also plans to end his annual shareholder letters and step back from the company’s yearly meeting, marking a clear end to an era.
It’s worth noting that investors reacted cautiously, with Berkshire shares dipping after the announcement. Analysts say the company’s record cash pile could give Abel greater flexibility in how he deploys capital as Berkshire moves into its post-Buffett chapter.
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