Warren Buffett raise the stakes on Google. Berkshire Hathaway increased its stake in Alphabet by 83% in the second quarter of 2026, turning the company that controls Google and YouTube into the Omaha holding company's third-largest equity investment. As of June 30, Berkshire owned nearly 106 million Alphabet shares, for a value of approx 37,8 billion dollars, compared to the 57,8 million shares held just three months earlier.
Extremely rapid growth for an investment that just a few quarters ago did not appear among the group's big bets. Berkshire had begun to accumulate Alphabet in the third quarter of 2025 and within a few months, it has brought the technology company behind only Apple and American Express. A choice that takes on even more weight because it coincides with the global rush to invest inartificial intelligence and with the launch of Berkshire's new phase under the operational leadership of Greg Abel.
Alphabet climbs to the top of the Berkshire portfolio
At the end of June, Apple remained Berkshire Hathaway's largest stock holding, with a value of approximately 66 billion dollars. It was followed American Express with 51,3 billion, while Alphabet, which reached 37,8 billion, had already surpassed Coca-Cola and took third place. Bank of America completed the group of the top five holdings. The jump is also significant in relation to the overall size of the portfolio. The U.S.-listed stocks held by Berkshire were worth a total of 323,8 billion dollars as of June 30. Alphabet therefore represented almost the 12% of this heritage.
The position was built relatively quickly. Berkshire began purchasing Alphabet in the third quarter of 2025, when it purchased approximately 17,85 million shares, then valued at around $4,9 billion. By March 31, 2026, the holding had already increased to 57,8 million shares, reaching nearly 106 million at the end of June. Buffett also directly supported the decision. Last month, he explained to CNBC that the idea of investing in Alphabet had been his, adding that he will continue to consult with Abel on capital allocation decisions. Buffett said left the role of CEO at the end of last year, but remained chairman of Berkshire.
The move also has symbolic value. For years, Buffett had acknowledged that he hadn't seized the opportunity Google represented in time. Now Berkshire isn't just correcting that missed opportunity, it's also transformed Alphabet into a cornerstone of its portfolio.
The bet on artificial intelligence is already worth billions
Behind the increase in participation is also the theme that is reshaping the investments of large technology companies. The position includes a $10 billion investment announced in June, linked to the expansion of Alphabet's artificial intelligence infrastructure. This move allows Berkshire to gain exposure to the growth of AI through an already highly profitable and diversified group. Alphabet continues to leverage Google's dominant position in online search and digital advertising, as well as the strength of YouTube, while simultaneously increasing investment in the infrastructure needed to develop new AI-based services.
It's a setup that fits well with Berkshire's traditional philosophy. The holding company isn't investing in a young technology company still searching for a sustainable business model, but rather in a group capable of generating profits and significant capital while financing its expansion into the most innovative sectors.
The investment in Alphabet thus also becomes one of the first major testing grounds for the transition between Buffett and AbelAlthough it was born from the founder's intuition, the position is being strengthened just as the new CEO begins to put to work some of the enormous liquidity accumulated in recent years.
Berkshire returns to buying after 14 quarters
The increased stake in Alphabet is not an isolated decision. In the second quarter, Berkshire bought $23,5 billion in shares and sold just $3,7 billion, breaking a 14-quarter streak in which sales had consistently exceeded purchases. The impact is also visible in the mountain of liquidity available to the holding company. Cash flow has fallen from $380,2 billion at the end of March to $364,7 billion on June 30The decline was also affected by €4,5 billion earmarked for share buybacks.
Greg Abel had explained in February that he directly supervised the 94% of Berkshire's equity holdings, while the remaining 6% is entrusted to the manager Ted WeschlerThe documents filed by the company do not, however, specify who materially decided on each purchase or sale.
The shift remains clear, however. After years in which rising liquidity fueled questions about where Berkshire would find opportunities large enough to impact its portfolio, the holding company has returned to being a net buyer. And much of the attention is now focused on Alphabet.
From Delta to Macy's, how Omaha's portfolio is changing
Berkshire has also moved its portfolio outside of technology. The holding company has increased its stake in Delta Air Lines by 44%, bringing it to 57,3 million shares, valued at nearly $5,4 billion. The position in Macy's grew even more rapidly, more than doubling to approximately 7,3 million shares, valued at $173 million.
New purchases also affected the real estate sector. Berkshire increased its stake in the developer Lennar and disclosed a very small position of approximately $580 in DR Horton. On the other side, it was completely stake in Constellation Brands closed, the alcoholic beverage maker that joined the portfolio about a year and a half ago. Berkshire also reduced positions in Ally Financial, Bank of America, Capital One, DaVita, Kroger, and Nucor.
The group, however, remains much more than a gigantic stock portfolio. Berkshire directly controls dozens of businesses, from the railway BNSF to the insurance Geico, including energy companies, manufacturing companies, and brands like Brooks, Dairy Queen, Fruit of the Loom, and See's.
But it is Alphabet that today represents one of the clearest signals of the new phase. With almost $38 billion already invested in Google's parent companyBerkshire has chosen one of the protagonists of the race for artificial intelligence as the third pillar of its portfolio.
