The S&P 500 (SNPINDEX: ^GSPC) declined 12% during the next five trading days, leaving the index 19% below the record high reached in February. Ahead of that tariff-driven market crash, Warren Buffett's Berkshire Hathaway made two interesting capital allocation decisions in the fourth quarter.

A new ETF gives investors access to Warren Buffett’s top stock holdings and Berkshire Hathaway shares, with an extra income-producing options strategy.

It's not difficult to find stocks likely to go up if the tariff dispute is resolved with a series of trade deals, but what if you want to be a bit defensive and buy some stocks with relatively less exposure to potential tariffs or even some upside exposure?