Berkshire Hathaway reported on Aug. 8 that its cash pile fell to $365.51 billion at the end of Q2 2026, down from roughly $397.4 billion in Q1, as the company turned from patient waiting to active buying. The quarterly report showed net stock purchases of about $20 billion, ending a 14-quarter streak of net selling that had lasted since Q4 2022. The buying spree included a $10 billion private placement in Alphabet, Google's parent, intended to support AI data center investments, and approximately $6.8 billion to acquire homebuilder Taylor Morrison — a full takeover rather than open-market buying. Berkshire also spent about $4.5 billion on its own share repurchases. After accounting for those large items, roughly $3 billion in "unexplained" net open-market equity purchases remains; specific names will appear in the 13F filing due around Aug. 14. Alphabet has moved into Berkshire's top five holdings, sitting alongside American Express, Apple, Bank of America, and Coca-Cola. Those five positions account for about 66% of the equity portfolio. The shift is widely read as a clear sign of more aggressive capital allocation under incoming CEO Greg Abel, with Berkshire moving from "patiently waiting" to "taking action." Warren Buffett had earlier explained the long selling cycle by saying valuations were too high to find attractive opportunities.
Berkshire Hathaway's second-quarter earnings release on Aug. 8 drew attention for one number above all: cash reserves dropped to $365.51 billion from roughly $397.4 billion at the end of the first quarter. That decline closes a period of net selling that had stretched across 14 consecutive quarters. Since Q4 2022, the company had been reducing its equity exposure; now it has flipped to meaningful net buying.
The report shows net equity purchases of about $20 billion for the quarter. The largest component was a $10 billion private placement in Alphabet, the parent company of Google, earmarked for AI data center spending and related investments. Berkshire also spent about $6.8 billion acquiring homebuilder Taylor Morrison in a full takeover, a transaction that is not strictly an open-market stock purchase. On top of that, the company repurchased roughly $4.5 billion of its own stock.
After stripping out those big-ticket items, about $3 billion in "unexplained" net open-market equity buying remains. Investors will have to wait for the 13F filing, expected around Aug. 14, to see which stocks were behind that residual buying.
Alphabet now ranks among Berkshire's top five holdings, joining American Express, Apple, Bank of America, and Coca-Cola. The five positions together represent roughly 66% of the equity portfolio.
Warren Buffett has previously pointed to high market valuations as the reason for the long stretch of selling — cheap, attractive opportunities were hard to find. The latest move is being read as a clear signal that capital allocation under incoming CEO Greg Abel is becoming more aggressive. Berkshire is shifting from "patiently waiting" to "taking action."
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