Donald Trump and Warren Buffett
When Donald Trump and Warren Buffett appear in the same stock-market story, investors naturally want to know whether they own the same companies and what those overlapping holdings might reveal.
The answer is more nuanced than a simple “Trump and Buffett own the same stocks.” As of September 2026, Berkshire Hathaway’s second-quarter portfolio contains several companies that also appeared in Donald Trump’s publicly disclosed 2026 stock transactions. A September 16 report identified 17 shared companies, using Berkshire Hathaway’s Q2 holdings and Trump’s disclosures.
There is also an important distinction. Berkshire Hathaway’s portfolio is a corporate investment portfolio, now managed under CEO Greg Abel following Buffett’s retirement as CEO at the end of 2025. Buffett subsequently stepped down as Berkshire chairman on September 18, 2026, becoming chairman emeritus, while Howard Buffett became chairman.
Trump’s transactions, meanwhile, are based on financial disclosures connected with his blind-trust arrangements. Therefore, overlapping securities should not automatically be interpreted as evidence that Trump and Buffett independently made the same investment decision.
What Are the Shared Stocks?
The 17 companies identified in the September 2026 comparison are:
| Company | Ticker | Sector |
|---|---|---|
| Apple Inc. | AAPL | Technology |
| American Express | AXP | Financial |
| Coca-Cola | KO | Beverages |
| Bank of America | BAC | Financial |
| Chevron | CVX | Energy |
| Occidental Petroleum | OXY | Energy |
| Moody’s | MCO | Financial |
| Alphabet | GOOG/GOOGL | Technology |
| Kraft Heinz | KHC | Food |
| DaVita | DVA | Healthcare |
| Delta Air Lines | DAL | Airlines |
| VeriSign | VRSN | Network infrastructure |
| Kroger | KR | Retail |
| Lennar | LEN | Homebuilding |
| Capital One Financial | COF | Financial |
| Nucor | NUE | Steel |
| D.R. Horton | DHI | Homebuilding |
The list comes from a comparison of Trump’s publicly disclosed 2026 transactions with Berkshire Hathaway’s second-quarter 2026 portfolio.
How Large Are Berkshire Hathaway’s Major Holdings?
Berkshire Hathaway reported 29 public-stock positions in its Q2 2026 portfolio, valued at roughly $299.3 billion in the data compiled from its filing. Apple represented about 22% of that portfolio, American Express about 17%, Coca-Cola about 11%, Alphabet about 9.4% for Class A shares, and Bank of America about 9.2%.
That concentration matters when comparing the two portfolios. A Berkshire holding can represent billions of dollars, whereas an individual transaction reported in a presidential financial disclosure is generally presented in dollar ranges.
Some of the largest Berkshire holdings include:
- Apple (AAPL): about $65.95 billion in the Q2 portfolio.
- American Express (AXP): about $51.28 billion.
- Coca-Cola (KO): about $32.51 billion.
- Alphabet (GOOGL): about $28.16 billion.
- Bank of America (BAC): about $27.54 billion.
- Chevron (CVX): about $13.99 billion.
- Occidental Petroleum (OXY): about $12.87 billion.
These figures show why the term “shared stocks” can be misleading without context. The same company can appear in both datasets while representing dramatically different portfolio weights and investment structures.
Why Does Apple Stand Out?
Apple stock is one of the clearest examples of the difference.
Apple was Berkshire Hathaway’s largest public-equity holding at the end of Q2 2026, accounting for roughly 22% of the reported portfolio value. Trump’s 2026 disclosures also showed multiple Apple transactions, including purchases reported in March and May.
For Berkshire, Apple has historically been an important long-term corporate investment. For the Trump disclosure data, however, the reported transaction history does not by itself establish the same long-term investment thesis.
That distinction is important for investors researching Warren Buffett stocks and Donald Trump stocks.
What Other Major Stocks Do They Have in Common?
Several of the shared companies span industries traditionally associated with Berkshire’s portfolio.
American Express
American Express was Berkshire’s second-largest public-stock position at the end of Q2, worth approximately $51.3 billion. Trump’s disclosures showed eight 2026 transactions involving AXP, including both purchases and sales.
Coca-Cola
Coca-Cola remains one of Berkshire’s major consumer holdings. Berkshire held 400 million shares at the end of Q2. Trump’s disclosed 2026 activity included multiple Coca-Cola purchases.
Bank of America
Berkshire held roughly $27.5 billion of Bank of America at the end of Q2. Trump’s disclosed activity included both purchases and sales during 2026.
Chevron and Occidental Petroleum
Energy is another important area of overlap. Berkshire held significant positions in Chevron (CVX) and Occidental Petroleum (OXY). Trump’s disclosures also showed transactions involving both companies.
Alphabet
Alphabet is particularly notable because Berkshire increased its exposure substantially in Q2 2026. Berkshire held both Class A and Class C shares, while the Trump disclosure data cited transactions in GOOG.
What Does Berkshire Hathaway’s Portfolio Tell Us About Buffett’s Strategy?
Berkshire Hathaway has historically emphasized businesses with durable competitive characteristics, strong cash generation, established market positions, and the ability to produce attractive returns over long periods.
The Q2 2026 portfolio demonstrates exposure to:
- Technology
- Financial services
- Consumer products
- Energy
- Healthcare
- Retail
- Airlines
- Homebuilding
- Industrial companies
- Network infrastructure
However, today’s Berkshire portfolio should not automatically be described as Warren Buffett’s personal stock portfolio. Buffett retired as CEO at the end of 2025, and Greg Abel became Berkshire’s CEO. Q2 2026 portfolio changes therefore need to be understood in the context of Berkshire’s current management structure.
For example, Berkshire increased its Alphabet position in Q2 while reducing holdings such as Bank of America, Capital One, Nucor and DaVita. It also increased exposure to Delta and Lennar and established a new D.R. Horton position. Source: FinanceBuzz
How Does Trump’s Stock Activity Differ?
Trump’s disclosed stock activity is much broader and more transaction-heavy.
A September 2026 report said the disclosures covered more than 20,000 stock trades over the previous year. The reported transactions covered many sectors and different transaction sizes.
Reuters also reported in July 2026 that Trump’s financial disclosures showed his traditional stocks and bonds portfolio had grown substantially alongside proceeds from his family’s cryptocurrency ventures.
This means Trump’s reported investment activity should be analyzed primarily through public disclosures and transaction records, rather than assuming it represents a conventional personally managed stock portfolio.
Are These Really Stocks “Owned by Donald Trump”?
This requires careful wording.
Trump’s financial disclosures and related reporting document securities transactions associated with his investment arrangements. The White House has said Trump does not know about the trades in the blind trust. Therefore, phrases such as “stocks owned by Donald Trump” are commonly used in financial coverage, but they can oversimplify the legal and management structure behind the investments.
For SEO content and financial accuracy, “stocks appearing in Trump’s disclosed transactions” is often more precise.
What Can Investors Learn From the Overlap?
The overlap is interesting, but it should not be treated as an automatic stock-picking signal.
Three observations stand out.
1. Large established companies appear repeatedly
Apple, Coca-Cola, American Express, Bank of America, Chevron and Alphabet are large publicly traded businesses with significant market capitalization.
2. The industries are diverse
The shared list includes technology stocks, financial stocks, oil stocks, healthcare stocks, retail stocks, airline stocks, steel stocks and homebuilder stocks.
3. The same stock can serve different investment purposes
Two portfolios can contain Apple without having the same investment strategy.
One investor may view Apple as a long-term compounder. Another portfolio manager may use the security as one component of a broader allocation or trading strategy.
That is why investors should examine valuation, earnings growth, balance-sheet strength, competitive position, portfolio weight and time horizon, rather than copying a disclosed transaction.
Warren Buffett’s Approach to Long-Term Investing
Buffett’s investment philosophy has traditionally emphasized buying understandable businesses with durable economic characteristics and holding them for long periods when the underlying investment case remains intact.
Berkshire’s historical holdings in companies such as Coca-Cola and American Express illustrate the importance of long-term ownership.
But investors should also recognize that Berkshire’s portfolio evolves. The Q2 2026 filing showed meaningful changes across several positions, demonstrating that even a long-term investment framework can include purchases, reductions and sales.
The Biggest Mistake: Treating Disclosures as Buy Signals
Public stock disclosures can be useful research material, but they have limitations.
A disclosure may:
- Report transactions after they occurred.
- Provide dollar ranges rather than exact amounts.
- Reflect a blind-trust arrangement.
- Represent only part of a larger portfolio.
- Tell you what was traded but not the complete investment thesis.
- Become outdated as market prices and holdings change.
The same limitation applies to Berkshire Hathaway’s 13F filing. A filing is a snapshot of holdings at a particular date, not a real-time description of every investment decision.
Warren Buffett on Donald Trump and the Economy
Buffett has commented on Trump and U.S. economic policy at different points.
In May 2025, Buffett criticized tariff escalation and argued for international trade, saying that trade can contribute to prosperity. Reuters reported his comments from Berkshire Hathaway’s annual meeting.
There has also been misinformation surrounding Buffett’s views. In April 2025, Berkshire Hathaway explicitly rejected social-media claims that Buffett had praised Trump’s economic policies as the “best” in decades.
Investors should therefore verify quotations attributed to Buffett rather than relying on viral posts or short social-media clips.
Warren Buffett and Donald Trump: Key Differences
| Area | Berkshire Hathaway / Buffett | Trump disclosed activity |
|---|---|---|
| Structure | Corporate investment portfolio | Disclosed personal investment activity through reported arrangements |
| Time frame | Often associated with long-term ownership | Includes frequent transactions |
| Disclosure | SEC filings such as 13F | Government financial disclosures |
| Portfolio size | Large concentrated public-equity positions | Broad range of reported transactions |
| Examples | Apple, AXP, Coca-Cola, Chevron | Apple, AXP, Coca-Cola, Alphabet and others |
| Interpretation | Corporate holdings, now under Berkshire management | Disclosure-based transaction data |
The comparison is therefore useful for understanding the stock market, but it should not be interpreted as proof that the two investors use identical investment strategies.
How to Build a Strong Investment Portfolio
Rather than copying individual stock trades, investors can use the comparison to identify useful research questions:
- What does the company actually earn?
- Is revenue and earnings growth sustainable?
- How strong is the balance sheet?
- Does the company have a durable competitive advantage?
- What valuation is the market assigning to future earnings?
- How much portfolio concentration is appropriate?
- Does the investment match your time horizon and risk tolerance?
- Are you relying on a current filing that may already be outdated?
These questions are more useful than assuming that a famous investor’s disclosed transaction automatically applies to every investor.
Frequently Asked Questions
What stocks do Warren Buffett and Donald Trump have in common?
A September 2026 comparison identified 17 companies appearing in both Berkshire Hathaway’s Q2 2026 holdings and Trump’s disclosed 2026 stock transactions: Apple, American Express, Coca-Cola, Bank of America, Chevron, Occidental Petroleum, Moody’s, Alphabet, Kraft Heinz, DaVita, Delta Air Lines, VeriSign, Kroger, Lennar, Capital One Financial, Nucor and D.R. Horton.
What is the Warren Buffett Trump quote?
Several quotations have circulated online claiming Buffett praised Trump’s economic policies. Berkshire Hathaway rejected one widely circulated set of claims in April 2025 as false.
Where can I watch Warren Buffett on Trump on YouTube?
CNBC has published interviews in which Buffett discussed Donald Trump, including a February 2017 interview about the Trump presidency, Apple and airlines.
https://youtube.com/watch?v=ieUo2oinokU%3Frel%3D0%26playsinline%3D1%26origin%3Dhttps%253A%252F%252Fchatgpt.com%26enablejsapi%3D1%26widgetid%3D1%26forigin%3Dhttps%253A%252F%252Fchatgpt.com%252Fc%252F6aa01226-73fc-83ee-a4ba-c9948effe410%26aoriginsup%3D1%26vf%3D1
What did Warren Buffett say about Trump’s economy?
Buffett has made several comments over the years. In May 2025, he criticized tariff escalation and argued that international trade can contribute to prosperity.
What did Warren Buffett say about Trump’s impeachment?
Buffett’s public comments on Trump have covered politics, economic policy and elections at different times, but impeachment is not a central theme of his investment philosophy. Specific claims about what Buffett said should be checked against the original interview or transcript rather than social-media summaries.
What is Warren Buffett’s net worth?
Forbes estimated Buffett’s real-time net worth at about $146.3 billion as of September 15, 2026, while its 2026 Forbes 400 figure listed approximately $144 billion. Net-worth estimates fluctuate with Berkshire Hathaway’s share price and other assets
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