NEW YORK—Berkshire Hathaway purchased $23.47 billion of equities and sold $3.69 billion in the second quarter of 2026, marking its first quarter as a net buyer in three and a half years and ending a 14-quarter selling streak.
The majority of that buying came from a $10 billion private placement directly into Alphabet—42.6 percent of Berkshire's gross equity purchases in Q2—substantially increasing an existing position rather than adding a new name to the portfolio.
By June 30, Alphabet had risen to one of Berkshire's five largest equity holdings, alongside American Express, Apple, Bank of America and Coca-Cola. Those five positions represented 66 percent of Berkshire's $323.78 billion equity-securities portfolio.
The contrast with Q1 2026 is sharp: Berkshire recorded $8.15 billion of net equity selling in that quarter. The Q2 swing to $19.77 billion of net buying reflects targeted conviction, not a broad market call.
Beyond the Alphabet deal, approximately $13.47 billion of Q2 equity purchases remain unaccounted for publicly. Known investments such as Tokio Marine account for a portion of that figure.
Berkshire also repurchased $4.53 billion of its own Class A and B shares during the quarter. Despite those outlays, the company ended June with $359.2 billion in insurance-and-other cash, cash equivalents and U.S. Treasury bills—leaving Chief Executive Greg Abel with significant capital for future opportunities.
The Alphabet transaction is the key signal here. Berkshire secured a large, negotiated placement in a business it already understood and owned, at terms unavailable to open-market buyers. That structure—private, direct, sizable—is how Berkshire has historically deployed capital when it has genuine conviction: think the Goldman Sachs and Bank of America preferred deals during prior crises.
Alphabet's stock traded at $357.52, up 0.9 percent.
Even after Q2's purchases, Berkshire's cash position remains near record levels, giving Abel room to move again if valuations cooperate.
