Five companies account for nearly 70% of the investment giant’s reported equity holdings
At first glance, Berkshire Hathaway’s latest regulatory filing appears to show a reasonably broad collection of public equities. Look past the number of individual securities, however, and a much more concentrated portfolio emerges.
In its latest Form 13F filing, Berkshire Hathaway reported approximately $299.25 billion of publicly traded securities across 29 separately reported positions. The filing covers holdings as of June 30, 2026 and was submitted on August 14, 2026.
The five companies at the heart of Berkshire’s portfolio
Apple remains Berkshire’s largest reported stock holding.
The company held approximately 227.9 million Apple shares, valued at $65.95 billion at the end of the quarter. Apple alone represented 22.04% of the reported portfolio.
American Express ranked second, with approximately 151.6 million shares worth $51.28 billion, equivalent to 17.14% of the portfolio.
The more interesting result appears when Alphabet’s two share classes are combined.
Berkshire separately reported approximately 78.8 million Alphabet Class A shares and 27.2 million Alphabet Class C shares. Together, these create a company-level Alphabet position of approximately 106.0 million shares, with a reported value of $37.76 billion.
On this consolidated basis, Alphabet becomes Berkshire’s third-largest company exposure, representing 12.62% of the portfolio. It moves ahead of both Coca-Cola and Bank of America.
Coca-Cola ranked fourth, with Berkshire’s 400 million shares valued at approximately $32.51 billion, or 10.86% of the portfolio. Bank of America followed at approximately $27.54 billion, representing 9.20%.
Combined, these five companies accounted for approximately $205.05 billion, or 68.65%, of Berkshire’s reported equity portfolio.
In practical terms, more than two of every three dollars in Berkshire’s disclosed public-equity portfolio were associated with Apple, American Express, Alphabet, Coca-Cola and Bank of America.
Portfolio Moves in Q2 2026
- Alphabet became the defining addition: Combining its Class A and Class C shares, Berkshire Hathaway increased its Alphabet position from approximately 57.8 million to 106.0 million shares. The reported quarter-end value more than doubled from approximately $16.63 billion to $37.76 billion, making Alphabet its third-largest consolidated company holding.
- Airline exposure expanded significantly: The Delta Air Lines position increased by approximately 17.5 million shares, from 39.8 million to 57.3 million. Its reported value rose from approximately $2.65 billion to $5.37 billion
- Selective additions continued outside mega-cap stocks: Berkshire added approximately 4.3 million Macy’s shares, increased its consolidated Lennar position by around 3.1 million shares, and added approximately 553,000 New York Times shares. It also reported a small new position in D.R. Horton.
- Financial holdings were selectively reduced: Berkshire cut its Bank of America position by approximately 30.2 million shares, reduced Capital One Financial by 4.15 million shares, and trimmed Ally Financial by 2 million shares. Despite the lower share counts, the reported values of Bank of America and Ally Financial increased because of quarter-end market-price movements.
Strategic Pivot Points in Q2 2026
Alphabet emerges as a core pillar of the portfolio
The most significant development during the quarter was Berkshire’s aggressive expansion of its Alphabet investment. Following the additions to both share classes, Alphabet represented approximately 12.6% of the portfolio, making it Berkshire’s third-largest company-level position behind only Apple and American Express.
Technology exposure became more influential
Combining Apple and Alphabet, Berkshire now holds more than $103 billion in these two technology companies alone. Together they account for approximately 34.7% of the reported equity portfolio, highlighting the growing influence of technology within Berkshire's public-equity holdings
Selective rotation away from financials
While Berkshire maintained substantial positions in American Express, Bank of America, Chubb and Moody’s, the reductions in Bank of America, Capital One and Ally Financial indicate selective reallocation rather than wholesale withdrawal from the financial sector.
Increased conviction in cyclical opportunities
The expansion of Delta Air Lines, Lennar and Macy’s suggests greater exposure to businesses tied to travel, housing and consumer spending. These moves increased Berkshire’s participation in sectors that may benefit from continued economic activity and consumer demand.
Concentration remains Berkshire’s defining characteristic
Despite numerous portfolio adjustments, Berkshire remains highly concentrated. Apple, American Express, Alphabet, Coca-Cola and Bank of America collectively account for approximately 68.7% of the reported portfolio value. The latest 13F reinforces Berkshire’s long-standing approach of allocating substantial capital to a relatively small number of high-conviction investments.
Key Takeaway
Q2 2026 was defined by one major theme: Berkshire significantly increased its exposure to Alphabet while trimming portions of several legacy financial and consumer holdings. The result is a portfolio that remains highly concentrated, but with a larger emphasis on Alphabet as a core long-term holding and greater exposure to selected cyclical opportunities such as airlines and homebuilders.