Berkshire Deploys Over $23 Billion in Q2 New Positions; Google Parent Alphabet Holding Could Reach $10 Billion Level
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Berkshire Hathaway bought over $23 billion in stocks during Q2, deploying at least $10 billion into Alphabet alone — its most aggressive buying quarter in years, with Friday's 13-F filing set to reveal where the remaining $13 billion went.
How did the Alphabet deal work?
Alphabet disclosed in June that Berkshire bought $10 billion of its shares at roughly $350 per share, part of a larger equity raise Alphabet is running to fund over $85 billion in AI capital spending.
This means → Berkshire entered through a directed placement, not open-market buying — a wholesale deal with pricing and terms unavailable to retail investors.
Before the purchase Berkshire already held about 58 million Alphabet shares; the stake now sits at roughly 86 million shares.
Could the position be even larger than disclosed?
*Barron's* estimates that, based on the largest-holding ratio disclosed in Berkshire's 10-Q filing (a quarterly financial report filed with the SEC), the Alphabet position may be close to 100 million shares worth roughly $35 billion as of June 30.
In plain terms = if that estimate holds, Alphabet would tie Coca-Cola as Berkshire's third-largest holding, behind only Apple and American Express.
This reflects a significant portfolio shift — away from legacy consumer and financial names, toward Big Tech.
What was the other $13 billion spent on?
Beyond the disclosed Alphabet buy, roughly $7 billion in Q2 purchases remains unexplained; the market speculates Berkshire may have opened a new position in Microsoft during a period of share-price weakness.
Berkshire's 10-Q shows a sharp rise in the cost basis of its "commercial, industrial and other" equity category — and Microsoft typically falls under that heading.
This means → if Friday's 13-F confirms a Microsoft position, Berkshire would be heavily invested in America's two largest tech companies simultaneously.
Is Japan still getting capital too?
Berkshire bought nearly $2 billion in shares of Japanese insurer Tokio Marine as part of a previously disclosed strategic alliance.
It also added over $1 billion to its stakes in the five major Japanese trading houses, a portfolio already worth over $35 billion.
In plain terms = tech dominated the quarter, but Japan remains Berkshire's steady second lane of deployment.
What changed on the selling side?
Q2 stock sales totaled just over $3 billion, far below the roughly $24 billion sold in Q1.
Of that Q1 selling, about $15 billion came from positions managed by former investment manager Todd Combs.
This means → the steep drop in selling suggests Q1 was a one-off portfolio cleanup tied to a personnel change, not a sustained bearish signal; Berkshire's posture in Q2 has clearly shifted to net buying.
Content is for reference only, not financial advice.