Warren Buffett Quietly Sold 75% of His Biggest Holding. This Is Where the Money Went.
Key Points
Warren Buffett sold three-quarters of his Apple position.
Yet he continued to increase Berkshire’s exposure to Chubb.
Warren Buffett, who stepped down as the CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) at the end of 2025, once said his favorite holding period for a stock was "forever". So when the Oracle of Omaha sells one of its top stocks, investors tend to pay attention.
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What stock did Warren Buffett sell?
From early 2024 through his retirement, Buffett sold about three-quarters of Berkshire's Apple (NASDAQ: AAPL) stake. However, Berkshire Hathaway still holds a $61.6 billion stake in Apple, making it the company's largest single investment.
Buffett likely sold Apple for three reasons: to rebalance Berkshire's portfolio (Apple had accounted for nearly half its entire portfolio at its peak), to avoid higher corporate taxes, and to raise more cash to buy safer -- and higher-yielding -- short-term U.S. Treasuries.
What stock did Warren Buffett buy instead?
After reducing Berkshire's exposure to Apple, Buffett ramped up its purchases of Chubb (NYSE: CB), the world's largest publicly traded provider of property, casualty, and supplemental insurance. Buffett started a new position in Chubb in the third quarter of 2023, and accumulated more shares through 2024 and 2025 without selling a single share.
Berkshire now owns a $11.2 billion stake in Chubb, making it the company's eighth-largest holding. Buffett is a big fan of insurance companies, which generate steady cash and are well-insulated from economic downturns, so it wasn't a surprising investment.
Buffett isn't necessarily bearish on Apple, but his rebalancing moves suggest that investors should get a bit more defensive in this volatile market. They also suggest that "boring" blue chip insurance plays like Chubb might be good evergreen investments.
Leo Sun has positions in Apple. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool has a disclosure policy.