Overview
- Berkshire reported stronger operating results for Q2 2026 with operating earnings of $12.98 billion and net income of $25.67 billion, while cash and Treasury holdings fell to about $364.7–365.5 billion from roughly $397 billion at the end of March.
- The firm reversed a 14-quarter selling streak and became a net buyer of equities in Q2, recording roughly $20–23.5 billion in net stock purchases; a disclosed private placement of about $10 billion in Alphabet made Google’s parent one of Berkshire’s top five holdings.
- Management repurchased about $4.5 billion of Berkshire shares in Q2 and added roughly $3.3 billion in July, showing increased use of buybacks to return capital when leadership deems shares undervalued.
- Berkshire completed a $6.8 billion cash acquisition of Taylor Morrison in late July and Warren Buffett, now chairman, said he consulted on the Alphabet investment, underscoring continued involvement in major decisions while Greg Abel asserts his allocation approach.
- Key near-term items to watch are the August 13F filing that should name the roughly $13–14 billion of Q2 purchases not yet disclosed and how Abel balances remaining mid‑$300 billion cash for future buybacks, minority stakes, or full acquisitions.