A rare buying spree: Berkshire's post-Buffett portfolio is revealed
Berkshire bought heavily into Alphabet in the second quarter of 2026, added to real-estate and airline holdings, and cut exposure to financial and consumer names.
Berkshire Hathaway has disclosed its portfolio for the second quarter since Warren Buffett, the company's former chief executive and the "Oracle of Omaha," stepped down.
According to a US Securities and Exchange Commission 13F filing released on August 14, Berkshire's portfolio had a total market value of $299 billion in the second quarter of 2026, up from $263 billion in the previous quarter. Berkshire added one new holding, increased seven, reduced six and exited one. Its ten largest positions accounted for 88.74% of the total, reflecting a highly concentrated portfolio.
Berkshire is known for holding shares for years or even decades. Its low turnover and conviction in its largest positions have made the portfolio a common benchmark for industry backtests and copy-investing strategies.
Heavy buying lifts Alphabet to fourth place
Berkshire's second-quarter 2026 results had already shown that the company ended a 14-quarter run of net stock sales by buying nearly $20 billion of equities on a net basis. In Greg Abel's first full quarter at the helm, Berkshire mounted a major buying push into Google parent Alphabet.
The 13F filing showed that Berkshire added about 48.1 million shares across Alphabet's two share classes during the quarter, increasing the position's market value by more than $17 billion. The Class A stake alone grew by more than 45%, taking Alphabet directly to fourth place among Berkshire's holdings.
After the second-quarter purchases, Alphabet had replaced Bank of America as Berkshire's fourth-largest holding as of June 30, 2026. The five largest positions were Apple, American Express, Coca-Cola, Alphabet and Bank of America.
Berkshire also added to its Delta Air Lines position, increasing its portfolio weight by 0.79%. Although the move was far smaller than its Alphabet purchase, it was notable while airlines continued to face volatility in oil prices and demand. Berkshire has moved in and out of airline stocks before—it exited the sector in 2020 and later rebuilt positions. The latest addition may reflect confidence in the continuing recovery in air travel and improvements in Delta's own operations.
Berkshire also increased its holdings in Lennar, the second-largest public homebuilder in the United States, and Macy's by 0.06% and 0.04% of the portfolio respectively—adjustments small enough to be considered marginal.
Kroger cut as financial and consumer exposure cools
Consumer and financial companies featured prominently among Berkshire's second-quarter reductions. The five largest cuts lowered their combined portfolio weight by about 1.4%.
Berkshire sold about 11 million shares of grocery retailer Kroger, reducing the position by roughly 22%. The shares sold were worth about $610 million.
Bank of America and Capital One Financial were also cut sharply. Berkshire sold about 30.2 million Bank of America shares in the second quarter, reducing the number of shares held by 5.89%. The sale was worth about $1.72 billion, making it Berkshire's largest reduction of the quarter. Its Capital One position fell by about 4.2 million shares, a reduction of roughly 58%, worth about $830 million. Alongside the large Alphabet purchase, the moves look more like a rotation between sectors.
Reductions in Nucor and Constellation Brands also reflected a more cautious approach to cyclical and consumer exposure.
Taken together, Berkshire's second-quarter purchases and sales suggest that, under Abel, the company is moving more capital towards a more growth-oriented digital future.