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Berkshire Hathaway reshaped parts of its investment portfolio in the second quarter. It is increasing its stake in Alphabet and expanding its exposure to US homebuilders while reducing several financial and other holdings.
The investment group bought about 48.1 million additional Alphabet shares during the quarter. Its total holding reached roughly 106 million shares, valued at around US$37.76 billion at the end of June. Berkshire held only 17.8 million Alphabet shares at the end of December.
The sharp increase in Alphabet signals a larger commitment to the Google parent under CEO Greg Abel, who succeeded Warren Buffett at the start of 2026. Abel had agreed in June to make a US$10 billion investment in Alphabet. Berkshire had started building its Alphabet position last autumn. Alphabet has also outlined plans to spend US$80 billion on computing infrastructure for its artificial intelligence business. The larger Alphabet position gives Berkshire greater exposure to one of the biggest technology companies investing heavily in AI infrastructure.
Berkshire also increased its presence in the US housing market. Its holding in Lennar grew by nearly 30% during the second quarter. The conglomerate also opened a small position in DR Horton. That stake was valued at about US$580,504 at the end of June. The changes follow Berkshire's US$6.8 billion acquisition of Taylor Morrison, which was completed in July. The moves point to continued interest in the homebuilding sector.
Berkshire also made sizeable changes elsewhere in the portfolio. Its holdings in Delta Air Lines and Macy's increased during the quarter, reaching values of about US$5.37 billion and US$173 million respectively. Several other investments were reduced. Berkshire cut its positions in Kroger, Nucor and DaVita. It also sold all 632,890 shares it held in Constellation Brands.
Financial stocks saw further reductions. Berkshire lowered its stakes in Bank of America and Ally Financial by around 6% and 6.9%, respectively. Its Capital One Financial holding fell by 58%. The portfolio changes show Berkshire directing more capital towards selected technology and housing investments while trimming several established positions. The shift also comes as Abel begins shaping the investment strategy following Buffett's departure from the CEO role.
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