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Berkshire added $17 billion of Alphabet shares in Q2
Roughly 60% of the 48.1 million shares added in the course of the quarter had been bought by Berkshire straight from Alphabet in a $10 billion non-public placement sale introduced by the businesses in early June.
That means Berkshire purchased round $7 billion of Alphabet shares on the open market.
Alphabet is, by far, the most important addition of the quarter however Berkshire additionally made a big addition to its wager on Delta Air Strains, rising that place by 44%, or roughly $1.6 billion.
Its 57.3 million shares are at present valued at $5.1 billion.
Delta first returned to Berkshire’s portfolio within the first quarter. It, and three different airline shares, had been offered by Warren Buffett at a loss within the first quarter of 2020 amid a large discount in air journey because the COVID-19 pandemic was gaining steam.
Through the years, Buffett’s funding in airways have not labored out nicely, prompting him to recommend in his 2007 letter to shareholders that if a “farsighted capitalist had been current at Kitty Hawk, he would have performed his successors an enormous favor by capturing Orville down.”
In different additions, Berkshire’s Macy’s holdings jumped by 142%, however that works out to a rise of simply round $100 million attributable to its comparatively small measurement.
And in the identical quarter Berkshire introduced its $6.8 acquisition of Taylor Morrison House, it added round $280 million to its stake in homebuilder Lennar.
Nonetheless promoting financials
Berkshire has been promoting down its monetary holdings in current quarters and that development continues.
It trimmed its Ally Monetary stake by 7% and reduce its Capital One holding by 58%.
Financial institution of America was decreased by a modest 5.9%, however because of the giant measurement of the holding, that decreased the worth of the stake by round $1.7 billion, the most important greenback reduce of the quarter.
Berkshire has decreased its BofA stake by 53% after eight consecutive quarters of promoting.
The complete portfolio as of June 30 seems beneath.
‘Large Brief’ investor Michael Burry’s huge concern ‘comes true’
Michael Burry is not proud of the way in which Berkshire Hathaway CEO Greg Abel decreased the corporate’s large money pile throughout its second quarter.
In a Substack submit on Sunday, Burry wrote his “greatest concern” was that Warren Buffett’s successor wouldn’t have the legendary investor’s “persistence for the fats pitch.”
Now, he writes, “I consider this concern has come true.”
Because of this, “I don’t discover Berkshire a gorgeous funding going ahead.”
Burry, whose wager towards the housing market forward of the 2008 subprime mortgage disaster was immortalized in Michael Lewis’ 2010 e book “The Large Brief” and a 2015 movie, acknowledges that “not an excessive amount of of the money pile has been spent” and the roughly $360 billion remaining is some huge cash.
However he is involved Abel’s “first steps look to be extra framing strikes than funding strikes.”
Within the feedback part, Burry clarifies that he’s not recommending that anybody go quick on Berkshire.
A key aspect of Buffett’s investing technique over time was being disciplined sufficient to attend for very favorable alternatives, simply as baseball legend Ted Williams would anticipate a “fats pitch” that he may simply hit.
However, as Buffett informed the New York Occasions in 2007, he may wait even longer than Williams may.
“What’s good about investing is you do not have to swing at pitches. You’ll be able to watch pitches are available in one inch above or one inch beneath your navel, and you do not have to swing. No umpire goes to name you out. You’ll be able to anticipate the pitch you need.”
Within the “Archives” clip beneath, Buffett and Charlie Munger focus on why they have been capable of be affected person in contrast to {many professional} cash managers.
Inventory falls regardless of resumption of buybacks
Some traders on Wall Road might share Burry’s considerations.
Each courses of Berkshire shares dropped greater than 3% this week within the wake of the corporate’s second quarter spending, despite the fact that it included the primary vital buybacks in two years.
BUFFETT & BERKSHIRE AROUND THE INTERNET
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HIGHLIGHTS FROM CNBC’S BUFFETT ARCHIVE
Berkshire’s self-discipline is like ‘Ted Williams ready for a fats pitch’ (2003)
CHARLIE MUNGER: We now have this straightforward, old style self-discipline, which Warren likens to Ted Williams ready for a fats pitch.
I do not find out about Warren, however for those who mentioned to me, “Charlie, you’ll be able to go into the enterprise of managing cash the way in which different individuals do, the place you are measured towards indexes and you bought consultants selecting consultants which might be reviewing you to committees,” I’d simply hate it.
I’d regard it as being put into shackles. And shackles the place the very system was stopping me from delivering worth.
Warren, how would you’re feeling about that —
WARREN BUFFETT: Yeah, we would not
CHARLIE MUNGER: —chore?
WARREN BUFFETT: — do it. We would not do it. We by no means did do it, as a matter of reality.
And one of many, , the preliminary — once we shaped the partnership on Might fifth, 1956, I handed out to the seven restricted companions one thing referred to as the “floor guidelines.”
And, , I mentioned, “Here is what I can do and here is what I am unable to do. And here is some issues I do not know whether or not I can do or not, possibly.” It was pretty quick.
However the concept of getting down to do one thing that you’ll be able to’t do, that may’t be — , that is bought to result in issues.
I imply, if someone tells me I’ve to excessive bounce seven toes, and we may even transfer that right down to 4 toes now — (laughter) — , between now and sunset or I will be shot, , I’ll exit and purchase a bulletproof vest. (Laughter)
CHARLIE MUNGER: Yeah, the final system for cash administration requires individuals to faux that they will do one thing that they can not do, and to faux to love it after they actually do not.
And I feel that is a horrible technique to spend your life, nevertheless it’s very nicely paid. (Laughter)
BERKSHIRE STOCK WATCH
BRK.A inventory value: $755,570.01
BRK.B inventory value: $504.03
BRK.B P/E (TTM): 12.67
Berkshire market capitalization: $1,078,750,128,699
Berkshire Money as of June 30: $365.5 billion (Down 8.0% from March 31)
Excluding Rail Money and Subtracting T-Payments Payable: $359.2 billion (Down 3.8% from March 31)
Berkshire repurchased $4.5 billion of its shares in Q2 2026.
(All figures are as of the date of publication, until in any other case indicated)
BERKSHIRE’S TOP EQUITY HOLDINGS – Aug. 14, 2026
Berkshire’s high holdings of disclosed publicly traded shares within the U.S. and Japan, by market worth, based mostly on the most recent closing costs.
Holdings are as of June 30, 2026, as reported in Berkshire Hathaway’s 13F submitting on August 14, 2026, aside from:
The complete record of holdings and present market values is out there from CNBC.com’s Berkshire Hathaway Portfolio Tracker.
QUESTIONS OR COMMENTS
Please ship any questions or feedback in regards to the e-newsletter to me at alex.crippen@nbcuni.com. (Sorry, however we do not ahead questions or feedback to Buffett himself.)
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Additionally, Buffett’s annual letters to shareholders are extremely really useful studying. There are collected right here on Berkshire’s web site.
— Alex Crippen, Editor, Warren Buffett Watch
