Each quarter, funds with more than $100 million in investments must publicly disclose their stock holdings by filing 13F forms. For decades, one of the most highly anticipated quarterly filings came from Berkshire Hathaway Inc. (ticker: BRK.B, BRK.A) and its billionaire CEO and Wall Street value investing legend Warren Buffett.
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Buffett stepped down as Berkshire’s CEO in January 2026, clearing the way for successor Greg Abel to take control of Berkshire’s portfolio. However, Buffett remains Berkshire’s chairman and maintains roughly 30% ownership of Berkshire’s voting shares. Here are 10 changes Berkshire Hathaway made to its portfolio in the second quarter:
| Stock | Change in shares owned |
| Alphabet Inc. (GOOG, GOOGL) | 83.2% |
| Bank of America Corp. (BAC) | -5.8% |
| Delta Air Lines Inc. (DAL) | 44.0% |
| Kroger Co. (KR) | -22.0% |
| Capital One Financial Corp. (COF) | -58.0% |
| Nucor Corp. (NUE) | -52.0% |
| Lennar Corp. (LEN) | 29.7% |
| DaVita Inc. (DVA) | -4.0% |
| Constellation Brands Inc. (STZ) | -100.0% |
| D.R. Horton Inc. (DHI) | New position |
Bought: Alphabet Inc. (GOOG, GOOGL)
Alphabet is one of the world’s largest online search and advertising companies and is the parent company of Google and YouTube. Berkshire began buying Alphabet in the third quarter of 2025, and Abel continued adding to his position by buying 24.5 million GOOGL Class A voting shares and 23.6 million GOOG Class C non-voting shares in the second quarter. Despite concerns that artificial intelligence would threaten Google’s search business, Alphabet has maintained its dominant market share and consistently generated profit and revenue growth. After increasing its combined position by more than 83%, Berkshire now owns a combined $37.7 billion in GOOG stock and GOOGL stock.
Sold: Bank of America Corp. (BAC)
Beginning in August 2024, Berkshire submitted a series of filings disclosing sales of Bank of America stock. In the second quarter, Berkshire sold an additional 30.2 million shares, reducing Buffett’s stake by another 5.8%. As of the end of June, Berkshire still holds more than 483 million shares of BAC stock worth about $27.5 billion. Buffett first invested in Bank of America back in 2011 during the European debt crisis, but he has exited or dialed back exposure to several bank stocks in recent years. Bank of America is still Berkshire’s fifth-largest holding.
Bought: Delta Air Lines Inc. (DAL)
Buffett famously invested in Delta Air Lines back in 2016, a decision that took Buffett followers by surprise due to his previously long-held aversion to the airline sector. However, Buffett exited his Delta stake entirely in early 2020 amid fears surrounding the impact the COVID-19 pandemic would have on airline travel. Abel went back to the Delta well in the first quarter of 2026, and Berkshire’s latest filings reveal he has continued building Berkshire’s position. In the second quarter, Berkshire bought 17.5 million DAL shares, bringing its stake up to 57.3 million shares worth about $5.3 billion.
Sold: Kroger Co. (KR)
Kroger is a leading U.S. supermarket chain that operates thousands of grocery stores throughout the country. Kroger is well known for its Our Brands private-label products, its Kroger Plus card and customer rewards program, and its digital shopping and home delivery offerings. Buffett first invested in Kroger in the fourth quarter of 2019. However, Abel trimmed Berkshire’s exposure in the second quarter, selling 11 million shares and bringing the firm’s total investment down 22% to an even 39 million shares worth roughly $2.1 billion. Berkshire’s investment represents about a 6.1% ownership stake in Kroger.
Sold: Capital One Financial Corp. (COF)
Capital One Financial is a diversified financial services holding company that provides consumer and commercial banking products and is one of the largest credit card issuers. Credit card giant American Express Co. (AXP) is Berkshire’s second-largest holding, but Abel slashed Berkshire’s stake in Capital One by about 58% in the second quarter. Berkshire first bought Capital One shares in the first quarter of 2023, and Capital One’s total return has outpaced the S&P 500’s by more than 40% since the beginning of 2023. Even after taking profits, Berkshire still owns 3 million shares of COF stock worth about $601 million.
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Sold: Nucor Corp. (NUE)
Nucor is the largest U.S. mini-mill steelmaker and is one of the most diversified steel producers in North America. In March 2025, the Donald Trump administration implemented 25% tariffs on imported steel and steel derivatives. That steel tariff rate doubled to 50% in June 2025, and Buffett took a large, new position in Nucor in the second quarter of 2025. One quarter later, Buffett sold 206,363 shares of Nucor stock. Abel reduced Berkshire’s Nucor stake by another 52% in the second quarter of 2026, bringing Berkshire’s stake down to about 1.8 million shares worth $413.8 million.
Bought: Lennar Corp. (LEN)
Lennar is one of the largest U.S. homebuilders. Buffett first invested in Lennar’s Class B shares in the second quarter of 2023. In addition to adding to Berkshire’s Class B Lennar stake in the second quarter, Abel was even more aggressive in adding to Berkshire’s even larger stake in Lennar’s Class A shares. Berkshire boosted its LEN.B stake by 25.4% by adding 60,414 shares. It also bought more than 3 million shares of LEN stock. Berkshire now holds $1.18 billion in LEN stock and another $26 million in LEN.B stock.
Sold: DaVita Inc. (DVA)
DaVita is a medical care services company that specializes in kidney dialysis services, pharmacy services and other disease management services. Buffett first invested in DaVita back in 2011. In February 2025 filings, Berkshire disclosed the sale of 953,091 shares of DaVita stock as part of a share repurchase agreement in which DaVita agreed to buy back shares of stock to reduce Berkshire’s ownership stake to 45%. Berkshire’s selling continued in the second quarter, further reducing its stake to about 28.6 million shares worth roughly $6.8 billion and representing approximately a 43% ownership stake in the company.
Sold: Constellation Brands Inc. (STZ)
Constellation Brands produces, markets and distributes beer, wine and spirits. Buffett first invested in Constellation Brands in the fourth quarter of 2024. Since the beginning of 2025, Constellation has generated a total return loss of more than 36%. While the stock still looks like a value play at first glance, Constellation has reported essentially flat revenue growth over the past three years, including a 3% decline in the most recent quarter. Abel has apparently seen enough and does not see a Constellation comeback story ahead. Berkshire dumped its 632,890 remaining shares in the second quarter, completely exiting the position.
Bought: D.R. Horton Inc. (DHI)
D.R. Horton is another large U.S. homebuilder. Buffett followers may be experiencing a strong sense of deja vu after they saw D.R. Horton on Berkshire’s latest 13F filing. Buffett first took a large stake in D.R. Horton in the second quarter of 2023 only to completely exit the position two quarters later. Buffett bought back into D.R. Horton in the first quarter of 2025 only to completely exit the position two quarters later. Abel once again bought a modest 3,564-share stake in DHI stock in the second quarter of 2026 worth $580,504.
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Update 08/18/26: This story was published at an earlier date and has been updated with new information.
