With Q2'26 exits, financials no longer focus of Berkshire's investments

Changes to Berkshire Hathaway Inc.'s investment portfolio in the second quarter show the conglomerate is shifting its investment focus away from the financial sector and leaning into tech-focused household names.

Berkshire shed about 58% of its holdings in Capital One Financial Corp. in the quarter, reducing its position to 3 million shares valued at about $601.9 million.

The company also continued to reduce its stake in Bank of America Corp., a trend that has been ongoing since at least 2025. Berkshire's second-quarter sale of roughly 30.2 million shares left a position in BofA that was worth about $27.54 billion.

Berkshire also decreased its holdings in digital lending company Ally Financial Inc. by about 6.9%. Its stake in Ally was valued at about $1.24 billion at the end of the second quarter.

Betting on Alphabet

Berkshire's most significant investment move in the second quarter was its purchases of Alphabet Inc. shares. The conglomerate picked up both A-shares, which are voting, and C-shares, which are non-voting. Alphabet is the parent entity of many tech-focused ventures including Google, YouTube, Android and Gemini.

Berkshire finished the quarter owning nearly 79 million Alphabet A-shares, making up the fourth-largest piece of its investment portfolio. Those shares were valued at approximately $28.16 billion as of the end of the second quarter.

Berkshire's stake in Alphabet C-shares is the tenth-largest investment in its portfolio. As of the end of the second quarter Berkshire held 27,188,433 C-shares, which are worth around $9.61 billion.

Addition, subtraction

Berkshire also picked up a new position in D.R. Horton Inc., an Arlington, Texas-based homebuilding company that operates in multiple US regions. The small position of 3,564 shares was valued at about $580,504 as of the end of the second quarter. Berkshire previously owned roughly 1.5 million shares of the homebuilder during the first and second quarter of 2025, valued at approximately $191 million.

Constellation Brands Inc. fell out of favor as Berkshire completely exited its holdings during the second quarter. Constellation Brands and its subsidiaries produce, import, market and sell alcoholic beverages in the US including beer, wine and spirits.

The overall value of Berkshire's investment portfolio stood at $299.25 billion at the end of the second quarter, up from $263.1 billion a quarter earlier.