“Warren Buffett’s portfolio” is the phrase people search. The document behind it is more precise: Berkshire Hathaway’s quarterly 13F, a delayed snapshot of certain U.S.-listed securities managed by Berkshire and its reporting managers.
The latest available filing covers June 30, 2026 and was filed with the SEC on August 14. After duplicate manager rows are consolidated, it reports $299.25 billion across 29 securities issued by 26 companies. The striking number is not the size. It is the concentration: the five largest companies represent 71.86% of the reported value.
There is also a leadership detail worth stating plainly. Greg Abel became Berkshire’s CEO on January 1, 2026; Warren Buffett remains Chairman. A position in this filing should not automatically be described as “Buffett bought” or “Buffett sold.” It is Berkshire’s disclosed portfolio, and the filing does not identify the individual decision-maker behind each trade.
Berkshire’s portfolio at a glance
Source: CalculatorAI · calculatorai.app · Berkshire Hathaway 13F-HR filed with the SEC
Apple remains the largest reported position at $65.95 billion. American Express follows at $51.28 billion. Alphabet becomes the third-largest company when its Class A and Class C holdings are combined, ahead of Coca-Cola and Bank of America.
| Company | Reported value | 13F weight |
|---|---|---|
| Apple | $65.95B | 22.04% |
| American Express | $51.28B | 17.14% |
| Alphabet | $37.76B | 12.62% |
| Coca-Cola | $32.51B | 10.86% |
| Bank of America | $27.54B | 9.20% |
| Chevron | $13.99B | 4.67% |
| Occidental Petroleum | $12.87B | 4.30% |
| Chubb | $11.67B | 3.90% |
| Moody’s | $11.17B | 3.73% |
| Kraft Heinz | $7.69B | 2.57% |
Source: CalculatorAI · calculatorai.app · CalculatorAI analysis of Berkshire Hathaway’s Q2 2026 13F information table
The first five companies alone account for $215.04 billion. Apple and American Express together are 39.18% of the filing. That is a useful fact about Berkshire, but it is not a universal allocation rule. Berkshire is an operating conglomerate with insurance float, wholly owned businesses, enormous liquidity and access to deals an individual investor does not have.
What changed in the second quarter
The reported portfolio value rose from $263.10 billion at March 31 to $299.25 billion at June 30, an increase of 13.74%. That does not mean Berkshire bought $36.16 billion of stock. A 13F reports quarter-end market values, so price moves and trading are mixed together.
Share counts are the cleaner way to identify disclosed activity. Comparing Berkshire’s first- and second-quarter information tables shows the largest increases in Alphabet and Delta, while Bank of America, Kroger, Capital One and Nucor were reduced.
| Holding | Share change | Change |
|---|---|---|
| Alphabet Class A | +24.54M | +45.24% |
| Alphabet Class C | +23.60M | +658.35% |
| Delta Air Lines | +17.51M | +43.99% |
| Macy’s | +4.31M | +141.82% |
| Lennar Class A | +3.01M | +29.82% |
| Bank of America | −30.23M | −5.89% |
| Kroger | −11.00M | −22.00% |
| Capital One | −4.15M | −58.04% |
| Nucor | −2.05M | −52.45% |
| Ally Financial | −2.00M | −6.90% |
Source: CalculatorAI · calculatorai.app · CalculatorAI comparison of Berkshire Hathaway Q1 and Q2 2026 13F filings
Alphabet became a top-three company
Berkshire added 24.54 million Alphabet Class A shares and 23.60 million Class C shares. At quarter-end, the two classes were worth a combined $37.76 billion, or 12.62% of the filing.
The percentage increase in Class C looks spectacular because the starting position was small: 3.59 million shares in Q1 versus 27.19 million in Q2. The more meaningful takeaway is the combined exposure, not the 658% headline.
Delta and homebuilding exposure increased
The Delta position rose from 39.81 million to 57.32 million shares, a 43.99% increase. Berkshire also added 3.01 million Lennar Class A shares and 60,414 Class B shares. The New York Times position increased by 553,465 shares, while Macy’s more than doubled from a much smaller base.
A new D.R. Horton line appears in the filing, but it contains only 3,564 shares worth about $581,000 at quarter-end. Against a $299.25 billion filing, that is immaterial. Treating it as a major conviction signal would be clickbait, not analysis.
Several financial and consumer positions were cut
Bank of America remained a top-five holding even after Berkshire disclosed 30.23 million fewer shares. Capital One fell from 7.15 million to 3 million shares, and Ally declined from 29 million to 27 million.
Kroger was cut by 11 million shares. DaVita fell by 1.22 million shares, and Nucor by 2.05 million. Constellation Brands, which had 632,890 shares in the March filing, no longer appeared in the June table.
These are quarter-to-quarter changes, not trade confirmations. The filings do not reveal the transaction dates, prices paid, tax considerations or the reasoning behind a decision.
What did not change matters too
Apple’s disclosed share count stayed at 227.92 million. American Express stayed at 151.61 million, Coca-Cola at 400 million, Chevron at 84.38 million, Occidental at 264.94 million, Chubb at 34.25 million and Moody’s at 24.67 million.
Their market values still moved because the stock prices moved. That is why a useful portfolio review keeps two separate columns:
- Units owned, which reveal purchases and sales.
- Market value and weight, which reveal price-driven drift and concentration.
If you track only value, a rising position can look like a purchase when no shares were added. If you track only shares, you miss the fact that one holding has quietly become too large for the risk limit you originally chose.
The 13F is not Berkshire’s entire balance sheet
Berkshire’s June 30 Form 10-Q reported $323.78 billion of investments in equity securities, more than the $299.25 billion in the 13F. It also reported $35.10 billion in cash and cash equivalents and $324.91 billion in short-term U.S. Treasury bills.
That difference is not an error. Form 13F has a narrower purpose. It generally covers reportable long positions in securities on the SEC’s official list. It does not give you a complete view of:
- Berkshire’s wholly owned operating companies;
- all foreign-listed holdings and other securities outside the 13F list;
- cash, Treasury bills and most debt investments;
- short positions or hedges in a way that lets you reconstruct net exposure;
- the price, date or investment thesis behind a trade.
The filing is also delayed. By the time investors see it, the quarter ended weeks earlier. Copying the position means accepting a different price without knowing whether Berkshire has already changed it again.
What an individual investor can actually learn
The lesson is not “buy the same stocks.” It is to separate observable facts from an attractive story.
Concentration is a deliberate risk choice. Berkshire’s top-five concentration is 71.86%. For a person whose salary, emergency fund and retirement depend on one portfolio, that level can create a very different risk than it creates inside Berkshire.
Position size says more than a ticker’s presence. D.R. Horton appears in the filing, but at roughly 0.0002% of reported value. Alphabet at 12.62% is economically meaningful. A list of names without weights hides the difference.
Changes in shares and changes in value answer different questions. Share counts show disclosed buying and selling. Weights show what the market did to the portfolio afterward.
A famous investor’s disclosure is a research lead, not a personalized plan. Your time horizon, taxes, liquidity needs and tolerance for a 40% drawdown may have nothing in common with Berkshire’s.
For a practical baseline, read how to track an investment portfolio without a spreadsheet, then use portfolio diversification explained to set limits before a holding becomes oversized. The same distinction between headline yield and total portfolio role also matters in our SCHD income analysis.
Track the filing without blindly copying it
You can reproduce this review in a few minutes each quarter:
- Save the filing period and filing date. Never label August disclosure as an August portfolio.
- Enter each company and share class separately in the Portfolio Tracker.
- Compare units with the prior quarter to identify purchases, reductions, new positions and exits.
- Combine share classes at the company level when measuring concentration.
- Record market value and portfolio weight separately from share-count change.
- Use the Asset Allocation Calculator to compare the observed portfolio with your own target mix.
- Write one sentence explaining why any idea fits your plan before you consider buying it.
That last step is the protection against borrowed conviction. If the only thesis is “Berkshire owns it,” you do not know what would make the position wrong or when to sell it.
Frequently asked questions
What is Warren Buffett’s largest stock holding in 2026?
Apple was Berkshire Hathaway’s largest reported 13F position at June 30, 2026, worth approximately $65.95 billion and representing 22.04% of the filing’s value.
What stocks did Berkshire buy in the second quarter of 2026?
The largest disclosed share-count increases were Alphabet Class A and Class C, Delta Air Lines, Macy’s and Lennar. The 13F comparison indicates position changes between quarter-end dates; it does not reveal the exact trade dates or purchase prices.
Did Berkshire sell Bank of America?
It reduced the disclosed position by 30.23 million shares, or 5.89%, during the quarter. Berkshire still reported 483.39 million shares worth $27.54 billion at June 30.
Can I copy Warren Buffett’s portfolio?
You can see parts of Berkshire’s U.S.-listed long equity portfolio after a delay, but you cannot reproduce Berkshire’s operating businesses, liquidity, insurance float, deal access or complete exposures from a 13F. Copying the tickers is not copying the portfolio.
How often is Berkshire’s 13F updated?
Form 13F is filed quarterly, generally within 45 days after quarter-end. Compare consecutive information tables by share count rather than treating the latest market values as transaction amounts.
Sources and method
CalculatorAI downloaded and consolidated the manager rows in Berkshire Hathaway’s official Q2 2026 13F information table, then compared them with the official Q1 2026 table. Portfolio values, weights and share-count changes were calculated locally; the reproducible script is stored with this draft.
Balance-sheet figures come from Berkshire’s Q2 2026 Form 10-Q. The leadership roles are confirmed by Berkshire’s 2025 annual report. Sources and calculations were checked September 12, 2026.
Educational information for a U.S. audience, not personalized investment, tax or legal advice. CalculatorAI is not affiliated with or endorsed by Warren Buffett, Berkshire Hathaway or the U.S. Securities and Exchange Commission.