Berkshire Hathaway reported on Friday that it increased its investment in Alphabet by 83% during the second quarter. The purchase makes Alphabet, the parent company of Google and YouTube, the third-largest stock holding in Berkshire’s portfolio. According to a regulatory filing, the firm owned approximately 106 million shares worth $37.8 billion as of June 30, an increase from 57.8 million shares at the end of March.
The disclosure was part of a filing detailing Berkshire’s U.S.-listed stock holdings, which total $323.8 billion. The company purchased $23.5 billion in stocks and sold $3.7 billion during the quarter, ending a 14-quarter period of net selling. This shift follows the departure of Warren Buffett as Chief Executive at the end of last year, with Greg Abel now leading the firm. Buffett remains chairman and stated to CNBC that he initiated the Alphabet investment, which began in the third quarter of 2025.
Beyond Alphabet, Berkshire reported other shifts in its portfolio. The company increased its stake in Delta Air Lines by 44% to 57.3 million shares and more than doubled its investment in Macy’s to 7.3 million shares. Conversely, it ended a 1.5-year investment in Constellation Brands and reduced its holdings in several other companies, including Bank of America, Ally Financial, and Nucor. Berkshire’s cash reserves dropped from $380.2 billion to $364.7 billion during the quarter, partly due to $4.5 billion in stock buybacks.
The scale of these moves is significant for the broader financial market, as Berkshire's U.S. equity portfolio stands at $323.8 billion. The Alphabet stake alone represents $37.8 billion, trailing only Apple at $66 billion and American Express at $51.3 billion. Shareholders will notice that the firm's cash pile, while still substantial at $364.7 billion, has begun to decrease as Chief Executive Greg Abel deploys funds that were accumulated during Warren Buffett's tenure. This transition marks a change in how the company's vast resources—averaging thousands of dollars in value per share—are being utilized.
The knock-on effects of these trades influence the sectors involved, particularly airlines, retail, and technology. As Berkshire exits positions like Constellation Brands and scales up in others like Delta and Macy's, it establishes new precedents for the firm's post-Buffett strategy. While Abel now oversees 94% of the stock holdings, the collaboration between him and Buffett on capital allocation remains a central component of the firm's governance. Further disclosures regarding these holdings are typically provided in quarterly regulatory filings, with the next major reporting period following the conclusion of the third quarter in September.