Greg Abel reshapes Berkshire portfolio, boosting Alphabet while cutting Nucor and expanding Delta and Lennar

BRK.B disclosed a materially different equity book in its second-quarter 13F, buying nearly $20 billion more stock than it sold and ending a 14-quarter stretch as a net seller, the first such reversal under Greg Abel's tenure as chief executive . Total disclosed portfolio value rose from roughly $263 billion to about $299 billion.

The headline move was GOOGL. Berkshire added around 24.5 million Class A shares and 23.6 million Class C shares, lifting Alphabet to roughly $36.6 billion and Berkshire's third-largest disclosed holding . Reporting attributes the position to Warren Buffett personally rather than to Abel, a distinction worth keeping straight when reading the filing as a signal about the new CEO's own strategy. Notably, Bill Ackman exited his Alphabet stake over a similar window, so two prominent investors reached opposite conclusions on the same name.

On the sell side, Berkshire cut its NUE position by roughly 52%, leaving steel at about 0.1% of the portfolio and its 24th-largest holding . Berkshire also exited Constellation Brands entirely, while adding to DAL, LEN, Macy's and NYT .

The composite picture is a rotation toward large-cap technology and consumer names and away from cyclical manufacturing, executed in a quarter when Berkshire chose to deploy cash rather than accumulate it. Two things are worth watching from here: whether the net-buying posture persists into the third quarter, since a single quarter does not establish a policy change, and how the Alphabet position is characterized in future disclosures now that succession makes attribution between Buffett and Abel harder to read from the filing alone.

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