Quick Read
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Greg Abel poured $17 billion into Alphabet, which trades at 17x earnings while compounding revenue 24% year over year and shares up 69% over the past year.
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Abel trimmed 30 million Bank of America shares while keeping a $27.5 billion stake and added 17.5 million Delta shares, reversing Buffett’s 2020 airline exit.
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Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Google didn’t make the cut. Grab the names FREE today.
Greg Abel, Warren Buffett’s designated successor as CEO of Berkshire Hathaway, poured roughly $17 billion into Alphabet (NASDAQ:GOOGL) during the second quarter, according to Berkshire’s Q2 2026 13F filing released last week. The disclosure, showing 24,541,369 new GOOGL shares and 23,603,218 new GOOG shares, is the clearest window yet into how Abel is deploying capital. When read alongside a Bank of America (NYSE:BAC) trim, a Delta Air Lines (NYSE:DAL) build, and a new D.R. Horton (NYSE:DHI) starter, five themes emerge.
1. Alphabet Is Now a Core Berkshire Holding
The combined Alphabet stake elevated the stock into Berkshire’s top holdings. The timing fits the fundamentals. Alphabet reported Q2 2026 revenue growth of 24.2% year over year and trades at a trailing P/E of 17 with a PEG ratio of 0.937. Shares are up 68.7% over the past year and closed at $344.00 on August 17.
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2. The AI Thesis Has a Cloud Backbone
Abel is underwriting Google Cloud alongside search. Google Cloud revenue grew 82% year over year to $24.77 billion in Q2, and management disclosed a cloud backlog of $514 billion. Prediction markets assign a 71.5% probability that the next Gemini Pro ships by October 31, with a 91.4% probability it debuts at an Arena score of 1480 or higher. That is the near-term catalyst set Abel is underwriting, and the same buildout story runs through the power, cooling, and networking suppliers we profiled in a free report on the AI infrastructure names that are not chipmakers.
3. Bank of America Trim Signals Selective Financials Caution
Berkshire sold 30,230,150 shares of Bank of America, yet the stake remained the fifth largest at $27.54 billion, or 9.20% of the portfolio. Bank of America stock has advanced 16.2% year to date and 36.1% over the past year. Abel is booking gains while retaining the stock as a top-five holding.
4. Airline Re-Entry via Delta
Berkshire added 17,510,544 shares of Delta Air Lines, building the position to $5.37 billion. This reverses Buffett’s 2020 exit from airlines. Delta guided FY2026 adjusted EPS to $6.50 to $7.50 with premium revenue up 17% and loyalty up 19%. Shares are up 26.2% year to date, and the stock trades at a forward P/E of 14.
