13F Tracker | Berkshire Doubles Down on Alphabet, Deepens Bets on Housing and Aviation

In the second quarter following Warren Buffett’s transition from the CEO role, $Berkshire Hathaway-B (BRK.B.US)$ notably accelerated the pace of its portfolio adjustments.

According to the Q2 13F filed on August 14, Berkshire's disclosed US equity portfolio reached approximately $299.3 billion as of June 30, up significantly from $263.1 billion at the end of Q1. Looking closely at Q1 and Q2 combined, a clear allocation theme is emerging under Greg Abel's leadership: retaining traditional core assets like $Apple (AAPL.US)$ , $American Express (AXP.US)$ , and $Coca-Cola (KO.US)$ , while directing new capital heavily toward Alphabet, airlines, and the US housing supply chain.

Symbols

Major Addition: Alphabet Rapidly Becomes a Core Asset

The most eye-catching Q2 transaction was the continued aggressive accumulation of Alphabet. Berkshire added 24.54 million Class A shares ( $Alphabet-A (GOOGL.US)$ ) to reach 78.79 million, and Class C shares ( $Alphabet-C (GOOG.US)$ ) surged by 23.60 million to total 27.19 million.

By the end of Q2, the Class A position reached $28.16 billion (9.41% of the portfolio), leaping from the 7th to the 4th largest holding. The Class C stake hit $9.61 billion (3.21%), breaking into the top 10. Combined, Berkshire now holds about 106 million Alphabet shares worth roughly $37.76 billion (12.62%). This officially makes Alphabet Berkshire’s third-largest U.S. stock bet, surpassing Coca-Cola.

This rapid accumulation suggests Berkshire’s tech exposure is shifting from an "Apple mono-core" to an "Apple and Google dual-core" strategy. Rather than suddenly abandoning value investing to chase AI hype, the firm appears to be favoring mature cash cows that also offer new growth curves in cloud computing and artificial intelligence.

Core Holdings: A Steady Stance on Apple and Amex

Despite Alphabet's rapid rise, $Apple (AAPL.US)$'s dominance remains unshaken. Berkshire maintained its position of 227.9 million shares, valued at $65.95 billion (22.04% of the portfolio), keeping it securely in the first spot after two consecutive quarters of no trimming. $American Express (AXP.US)$ also maintained its status as the second-largest holding at $51.28 billion.

Housing Sector: Physical Assets Over Stock Bets

Berkshire's investments in the US housing market continued to expand, but the real moves were off the stock exchange. In the 13F, Berkshire added ~3.07 million shares to its $Lennar Corp (LEN.US)$ and $Lennar Corp-B (LEN.B.US)$ stakes, bringing the value to $1.21 billion. It also re-initiated a position in $D.R. Horton (DHI.US)$ — however, this was merely a symbolic test position of 3,564 shares valued at just $580,000.

The actual massive bet was the $6.8 billion equity acquisition of homebuilder Taylor Morrison in July, which will be merged with Berkshire's existing Clayton Homes to create the 4th largest single-family builder in the US. The tiny DHI stock position is just a small part of a much broader, physical integration strategy across the US housing supply chain.

Aviation Sector: A Continued Return to Delta

Building on a 39.81 million-share re-entry in Q1, Berkshire added another 17.51 million shares of $Delta Air Lines (DAL.US)$ in Q2, a 44% increase. This brings the total stake to 57.32 million shares, valued at $5.37 billion. Marking a sharp contrast to its pandemic-era airline clearance, this consecutive accumulation proves Delta is no longer just a symbolic observation position.

Measured Trims: A Gradual Reduction in Financials and Industrials

On the sell side, financial stocks saw notable reductions. $Bank of America (BAC.US)$ was trimmed by 30.23 million shares (-5.89%) to 483.4 million shares. Valued at $27.54 billion, it slipped from the 4th to the 5th largest holding, overtaken by Alphabet-A. $Capital One Financial (COF.US)$ saw a massive 58% cut of 4.15 million shares, and $Ally Financial (ALLY.US)$ was reduced by roughly 2 million shares.

Other trims included $The Kroger Co. (KR.US)$ cut by 22%, $Nucor (NUE.US)$ by 52.45%, and $DaVita (DVA.US)$ by 4.05%. Conversely, $Macy's (M.US)$ saw a 141.8% increase, adding 4.31 million shares.

Strategic Overview: Changing the Ranking, Not the Principles

The Q2 13F should not be interpreted as the end of "Buffett-style investing." Instead, it outlines the preliminary contours of Berkshire’s portfolio changes in the Abel era:

– Concentration on Core Assets: At the end of Q2, Berkshire’s top 10 holdings accounted for roughly 88.5% of the portfolio. Traditional pillars like Apple, American Express, Coca-Cola, and Moody's remain firmly in place, indicating that the firm's emphasis on economic moats and cash flow is unchanged.

– New Growth Engines: What is changing is the internal ranking of these assets. Alphabet's combined shares have leaped to the third-largest exposure, Delta Air Lines saw consecutive quarters of accumulation, and the housing supply chain is being strongly reinforced.

– Continuity in the Post-Buffett Era: Rather than discarding Buffett's core assets, Greg Abel is extending the traditional investment framework, selectively reallocating capital to find the next generation of core assets capable of absorbing massive capital over the long term.

Follow @Moomoo Whale Watch — we track OGE presidential disclosures, SEC Form 4s, and 13G/13D filings in real time. When smart money moves, you'll know first.

1.2M Views