Berkshire Hathaway Boosts Alphabet Stake to Third-Largest Position in Q2

Berkshire Hathaway sharply increased its stake in Alphabet, Google's parent company, during the second quarter of 2026, elevating it to the conglomerate's third-largest equity holding. As of June 30, Berkshire held approximately 106 million shares of Alphabet, valued at roughly $37.9 billion, an 83% increase from the first quarter. The growth was primarily driven by a $10 billion private stock purchase in early June to support Alphabet's artificial intelligence infrastructure buildout. Following the increase, Alphabet rose to third place in Berkshire's portfolio, behind Apple and American Express.

Berkshire also continued to expand its investments in the airline and homebuilding sectors. Its stake in Delta Air Lines grew 44% in the second quarter to 57.3 million shares, valued at about $5.4 billion, marking the second consecutive quarter of additions since exiting airline stocks. In the housing sector, Berkshire raised its holdings in Lennar's Class A shares by nearly 30% to 13.1 million shares, worth about $1.19 billion, and increased its Class B shares by 25% to roughly 298,000 shares. Additionally, Berkshire disclosed a stake of 3,600 shares in D. R. Horton, underscoring its continued bet on homebuilding. These moves align with Berkshire's acquisition of Arizona-based homebuilder Taylor Morrison, further strengthening its position in the housing supply chain.

Berkshire's total equity portfolio stood at approximately $299.3 billion at the end of the second quarter, up from $263.1 billion at the end of the first quarter. The group ended a streak of 14 consecutive quarters of net selling and turned to net buying, with net purchases totaling nearly $20 billion in the quarter. Cash reserves fell to $365.5 billion from a record $397.4 billion at the end of March, indicating a more active deployment of capital into the market. As of June 30, Berkshire's top 10 holdings were Apple, American Express, Coca-Cola, Alphabet Class A, Bank of America, Chevron, Occidental Petroleum, Chubb, Moody's, and Alphabet Class C, with the Class C shares entering the top 10 for the first time.

On the other hand, Berkshire trimmed several traditional holdings in the second quarter. Its stake in Bank of America was reduced by about 30.2 million shares, decreasing the position's value by roughly $1.72 billion and moving it from fourth to fifth place in the portfolio. It cut its stake in Capital One Financial by about 4.2 million shares, a 58% reduction, reducing the value by approximately $830 million. The holding in Kroger was lowered by about 11 million shares, a 22% decline, decreasing the value by roughly $610 million. Berkshire sold about 2 million shares of Nucor, a 52.45% reduction, lowering the stake's value by approximately $456 million. A small reduction of about 183,000 shares was made in DaVita, decreasing the stake's value by roughly $272 million. Additionally, Berkshire exited Constellation Brands entirely, selling about 633,000 shares worth more than $210 million. These adjustments continued the portfolio optimization that began in the first quarter, with funds shifting from some traditional sectors toward technology, airlines, and housing.