Overview
- Regulatory filings released Friday showed Berkshire flipped to net equity buying in Q2 after 14 quarters, spending about $23.5 billion and selling roughly $3.7 billion for a net purchase near $20 billion.
- The filings also showed Berkshire increased its Alphabet position to roughly 106 million shares worth about $37.8–$37.9 billion, making Alphabet one of its top three U.S. holdings.
- About $10 billion of the Alphabet increase came from a June private placement that was split into $5 billion of Class A shares and $5 billion of Class C shares tied to Alphabet’s broader AI infrastructure capital raise.
- Berkshire cut its cash holding from about $397.4 billion at March 31 to roughly $365.5 billion at June 30 while completing $4.5 billion of buybacks in Q2, about $3.3 billion more in July, and the roughly $6.8 billion Taylor Morrison acquisition.
- The activity signals Greg Abel is deploying Berkshire’s record liquidity with Warren Buffett’s backing, but investors are watching for execution risk from concentrated positions and will look to future 13F filings, buyback pace, and returns from Alphabet and Delta for evidence the new tempo adds value.