For the first time in many quarters, Berkshire Hathaway (BRK-B) was a net buyer of stocks. The net value of the portfolio increased from $263 billion to around $299 billion.
In the second quarter, CEO Greg Abel, who replaced Warren Buffett, started a position in homebuilder D.R. Horton (DHI). This is a small position. It exited its holding in Constellation Brands (STZ).
Berkshire increased its stake in Alphabet (GOOG), which now accounts for 6.32% of the assets held. In the quarter, the allocation increased by a substantial 83% at a price between $290 and $409. The stock closed at $343.54 on August 14.
The holding in Delta Air Lines (DAL) increased to a 1.79% allocation. High oil prices would add costs for airlines. The investment suggests that Abel is bullish on air travel. He might anticipate the Iran conflict to end, which would lower oil prices.
Lennar (LEN.B), New York Times (NYT), and Macy’s (M) saw the stake increase.
Berkshire trimmed its position in Bank of America (BAC), albeit slightly.
Kroger (KR), where Berkshire has an ownership stake of around 5.6%, saw the position cut. The fund also reduced its holdings in Ally Financial (ALLY) and Capital One Financial (COF).
Berkshire kept its 22% allocation in Apple (AAPL), a 20% ownership stake in American Express (AXP), and a 9% stake in Coca-Cola (KO). In energy, Chevron (CVX) has a 4.67% allocation.
