Berkshire Ends Streak as Net Seller After Big Second Quarter Buys

Berkshire Hathaway has finally ended its fourteen-quarter streak as a net seller of stocks. The company bought $23.5 billion worth of stock in the second quarter, while selling $3.7 billion. This shift marks a significant change for Berkshire, which had been selling more shares than it was buying since 2021.

The largest purchase made by Berkshire in the second quarter was its stake in Alphabet (GOOGL), which increased by 83% to nearly 106 million shares worth around $37.8 billion. This makes Alphabet the third-largest position in Berkshire's equity portfolio, behind Apple and American Express. Berkshire also invested $10 billion tied to Alphabet's AI infrastructure spending.

Berkshire made other notable investments in the second quarter, including raising its stake in Delta Air Lines (DAL) by 44% to 57.3 million shares and more than doubling its stake in Macy's (M) to 7.3 million shares. The company also took a $580,000 stake in D.R. Horton (DHI).

However, Berkshire did not escape unscathed in the second quarter. It trimmed its stakes in several companies, including Ally Financial, Bank of America, Capital One, DaVita, Kroger, and Nucor.