Berkshire Hathaway’s Quarterly Net Stock Purchases Reach $19.8 Billion
Berkshire Hathaway has truly started to “pull the trigger.” The company’s second-quarter 2026 report, released on August 8, shows that its cash reserves fell from a record $397.4 billion at the end of the first quarter to $365.5 billion, a decrease of $31.9 billion during the quarter. In the second quarter, Berkshire made approximately $19.8 billion in net stock purchases, ending a streak of 14 consecutive quarters of net selling.
The money was mainly deployed in three directions:
1. Approximately $10 billion was invested in Alphabet (GOOGL.US) common stock, supporting the company’s AI infrastructure development.
2. $4.527 billion was spent on Berkshire’s own stock buybacks, marking its largest quarterly buyback in five years.
3. Approximately $16.2 billion in cash was used to acquire chemical businesses and homebuilders.
The portfolio structure has consequently changed. As of June 30, Berkshire’s five largest equity holdings were Alphabet (GOOGL), American Express (AXP), Apple (AAPL), Bank of America (BAC), and Coca-Cola (KO). Together, these five holdings accounted for 66% of Berkshire’s equity investment portfolio.
Alphabet entered the portfolio and immediately ranked among the top five holdings, replacing Chevron.
This is the clearest capital-allocation signal yet from 64-year-old CEO Greg Abel, who took over as CEO in January 2026: the enormous cash reserves left by Warren Buffett are finally beginning to be deployed.
The market’s key question now is: Can Abel continue Berkshire’s legendary track record with core holdings such as $GOOGL.US ,$AAPL.US and $AXP.US ?
Berkshire Hathaway has truly started to “pull the trigger.” The company’s second-quarter 2026 report, released on August 8, shows that its cash reserves fell from a record $397.4 billion at the end of the first quarter to $365.5 billion, a decrease of $31.9 billion during the quarter. In the second quarter, Berkshire made approximately $19.8 billion in net stock purchases, ending a streak of 14 consecutive quarters of net selling.
The money was mainly deployed in three directions:
1. Approximately $10 billion was invested in Alphabet (GOOGL.US) common stock, supporting the company’s AI infrastructure development.
2. $4.527 billion was spent on Berkshire’s own stock buybacks, marking its largest quarterly buyback in five years.
3. Approximately $16.2 billion in cash was used to acquire chemical businesses and homebuilders.
The portfolio structure has consequently changed. As of June 30, Berkshire’s five largest equity holdings were Alphabet (GOOGL), American Express (AXP), Apple (AAPL), Bank of America (BAC), and Coca-Cola (KO). Together, these five holdings accounted for 66% of Berkshire’s equity investment portfolio.
Alphabet entered the portfolio and immediately ranked among the top five holdings, replacing Chevron.
This is the clearest capital-allocation signal yet from 64-year-old CEO Greg Abel, who took over as CEO in January 2026: the enormous cash reserves left by Warren Buffett are finally beginning to be deployed.
The market’s key question now is: Can Abel continue Berkshire’s legendary track record with core holdings such as $GOOGL.US ,$AAPL.US and $AXP.US ?