핵심요약

• 버크셔 해서웨이는 2분기에 주식에 대한 순매수 기록을 달성했습니다.
• 알파벳(GOOGL) 클래스 A 주식 보유량은 45%, 클래스 B 주식 보유량은 650% 증가했습니다.
• GOOGL은 버크셔 포트폴리오에서 9.4%의 비중을 차지하며 4번째로 큰 자산이 되었습니다.
• 버크셔는 7월에 미국 주택 건설업체인 테일러 모리슨(Taylor Morrison)의 68억 달러 인수를 마쳤습니다.

도입

본 기사는 버크셔 해서웨이가 CEO 그렉 아벨 체제 하에서 2분기에 보인 자본 배분 전략의 변화를 다룹니다. 이는 단순히 개별 종목의 움직임을 넘어, 거시 경제 환경 변화 속에서 대형 자산운용사가 어떻게 포트폴리오의 위험 선호도를 조정하고 자본을 재배치하는지를 보여주는 중요한 시사점을 제공합니다. 투자자들은 이러한 움직임을 통해 시장의 변화에 대한 자본의 흐름을 예측하고 향후 투자 기회를 모색할 수 있습니다.

본문 1: 기술주 중심의 자본 집중 현상

버크셔 해서웨이가 2분기에 알파벳(Alphabet)에 100억 달러 규모의 주식을 사들인 것은 포트폴리오 내에서 기술 섹터에 대한 집중도를 높이는 명확한 신호입니다. 특히 GOOGL 클래스 A 주식이 45%, 클래스 B 주식이 650% 증가했다는 데이터는, 버크셔가 성장성과 기술 혁신을 핵심 투자 동력으로 간주하고 있음을 시사합니다. 이는 단순히 시장의 전반적인 상승에 편승하는 것을 넘어, 장기적인 기술 리더십에 대한 확신을 바탕으로 자본을 집중하는 전략으로 해석됩니다. 결과적으로 GOOGL은 포트폴리오 가치에서 9.4%를 차지하며 4번째로 큰 자산이 되었는데, 이는 기술 기업에 대한 높은 신뢰도를 반영합니다.

본문 2: 자산군 다각화 및 포트폴리오 정리

동시에 버크셔는 자산군을 다각화하고 포트폴리오를 정리하는 움직임도 병행했습니다. 7월에 68억 달러 규모의 테일러 모리슨 인수를 완료한 것은 부동산 및 건설 섹터에 대한 지속적인 노출을 의미하며, 이는 기술주 중심의 포트폴리오에 대한 균형을 맞추려는 시도로 보입니다. 또한, 버크셔는 일부 기존 보유 자산에 대해서는 매도를 통해 포트폴리오를 재조정하는 '하우스클리닝'을 지속했습니다. 이는 특정 성장 동력에 대한 과도한 의존도를 줄이고, 안정적인 현금 흐름과 실물 자산의 가치를 동시에 확보하려는 리스크 관리 관점의 접근입니다. 이러한 움직임은 고성장 기술주와 실물 자산 간의 균형을 추구하는 거시적인 자본 배분 전략을 반영합니다.

본문 3: 향후 전망과 리스크

버크셔의 이러한 자본 배분은 기술 섹터의 장기적인 강세에 대한 확신과 더불어, 부동산 및 기타 실물 자산에 대한 안정적인 가치 보존의 필요성을 동시에 보여줍니다. 향후 버크셔의 포트폴리오 성과는 기술 섹터의 지속적인 혁신 속도와 부동산 시장의 안정성에 달려있다고 볼 수 있습니다. 다만, 대규모 기술주에 대한 집중은 금리 환경 변화나 규제 리스크에 따른 변동성에 민감하게 반응할 수 있는 잠재적 위험을 내포하고 있습니다. 따라서 향후 투자자들은 기술 섹터의 성장 잠재력과 함께, 부동산 및 기타 자산군의 안정성을 면밀히 비교 분석해야 할 것입니다.

결론

버크셔 해서웨이의 2분기 자본 움직임은 기술 혁신에 대한 깊은 신뢰와 더불어 포트폴리오의 균형을 맞추려는 전략적 접근을 보여줍니다. 앞으로 버크셔가 기술 성장 동력과 실물 자산 간의 균형을 어떻게 유지해 나갈지, 그리고 거시 경제 환경 변화에 어떻게 대응할지에 대한 지속적인 관찰이 필요합니다. 특히 기술 섹터의 높은 변동성과 부동산 시장의 안정성을 동시에 고려하여 장기적인 관점에서 접근하는 것이 중요합니다.

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원문 링크: https://www.kiplinger.com/investing/stocks/stocks-berkshire-hathaway-bought-sold-q2-2026?.tsrc=rss

All the Stocks Berkshire Hathaway Bought and Sold in Q2

After overseeing a major housecleaning of Berkshire Hathaway 's ( BRK.B ) equity portfolio in his first three months as CEO, Greg Abel followed up with a sizable shift in capital deployment during Q2.

Although Berkshire was a net buyer of equities for the first time after 14 straight quarters of easing up on stocks, the company revealed no flashy new positions or big additions in a Securities and Exchange Commission (SEC) filing on August 14.

True, in June, Berkshire purchased another $10 billion worth of stock in Google parent Alphabet in a private placement. The deal, disclosed in the company's quarterly report, boosted its holdings of Class A shares ( GOOGL ) by 45% and Class B shares ( GOOG ) by more than 650%.

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At 9.4% of Berkshire's U.S. equity portfolio value, GOOGL is now the company's fourth-largest position. The Class B shares, at 3.2% of the portfolio, are now the firm's 10th-largest holding. Berkshire initiated its stake in the tech giant in the third quarter of 2025.

Separately, Berkshire closed its $6.8 billion acquisition of the U.S. homebuilder Taylor Morrison in July.

Abel oversees the Berkshire Hathaway equity portfolio , although Buffett keeps his hand in and plays a key advisory role. That said, times have changed.

The company added one new stock to its holdings in Q2 — D.R. Horton ( DHI ) — but then it has bought and sold the homebuilder several times in the past. And while Berkshire boosted stakes in some existing positions, both new and old, it also continued to pare back on some legacy holdings.

Interestingly, Berkshire cut back on some investments in the financial sector, including long-time Buffett favorite Bank of America ( BAC ).

But before we get to the stocks Berkshire Hathaway bought and sold in the second quarter, let's take a look at the bigger capital picture. In addition to being a net buyer of stocks for the first time in more than two years — the conglomerate made $19.8 billion in purchases vs $3.7 billion in sales — it also repurchased $4.5 billion of its own stock. That's Berkshire's largest quarterly buyback since 2021. Furthermore, it bought back another $3.3 billion in July.

Some folks have criticized Berkshire for not putting its cash hoard to work. Well, Abel appears to have answered them. Berkshire's cash holdings are still gargantuan, but they did fall to $365 billion in the second quarter from a record $380 billion at the end of Q1.

With a market cap of $1 trillion, Berkshire still maintains a sort of barbell portfolio of approximately $325 billion in stocks and the aforementioned $365 billion in cash.

Before we get into Berkshire's most recent buys and sells, it's important to know that Berkshire has always run a highly concentrated portfolio.

Excluding the company's Japanese brokerage stocks and other overseas equities, Apple ( AAPL ) alone accounts for more than a fifth of Berkshire's stock portfolio. (That's down from more than 40% at its peak.)

Furthermore, Berkshire's top five U.S. equity holdings comprise about 68% of its portfolio value, while the top 10 account for 88%.

As Buffett likes to say, diversification is for those who don't know what they're doing.

Stocks that Berkshire is buying

Buffett famously avoided airlines for decades. When he finally did come around, his timing was terrible, spreading his bets among a handful of major carriers not too long before COVID-19 set the industry into a tailspin. As a result, he quickly closed out those positions.

So it's a mark of change that Berkshire upped its stake in Delta Air Lines ( DAL ) by 44% in Q2 after initiating the position just three months earlier. The company bought another 17.5 million shares, bringing its total holdings to more than 57 million. With a market value of $5.4 billion at the end of Q2, the air carrier is now Berkshire's 13th-largest holding.

In another move in the homebuilder industry, Berkshire increased its positions in Lennar Class A ( LEN ) and Class B ( LEN.B ) stock, by 30% and 25%, respectively. At 0.4%, LEN is the company's 18th-largest investment. LEN.B, at less than 0.1%, is essentially immaterial.

Meanwhile, Berkshire added to two recent additions to its investments. It boosted its stake in The New York Times Co. ( NYT ) by almost 4%, while more than doubling its position in Macy's ( M ). NYT accounts for about 0.4% of the portfolio, while M sits at less than 0.1%. Although it's nice to have the imprimatur of Berkshire Hathaway, these are not needle-moving investments for a trillion-dollar company.

In a reprise from previous quarters, Berkshire once again sold some Bank of America stock, which has been a major holding since 2017. It's too soon to panic, though. Berkshire reduced its investment in the nation's second-largest bank by assets by less than 6%. BAC is still a top-five holding, although GOOGL did replace it at No. 4.

Elsewhere, Abel pared back on supermarket operator Kroger ( KR ), reducing the position by 22%. At 0.7% of the portfolio value, KR drops to Berkshire's 16th-largest holding from 12th at the end of Q1.

In the financial sector, Berkshire eased up on investments in Ally Financial ( ALLY ) by almost 7%, while slicing its position in Capital One Financial ( COF ) by 58%. ALLY accounts for just 0.4% of Berkshire's U.S. equity portfolio, while COF amounts to 0.2%.

Lastly, Berkshire reduced exposure to Nucor ( NUE ) by 52%. NUE now accounts for about 0.1% of the portfolio, or the firm's 24th-largest position. In the only exit, Berkshire sold its entire stake in Constellation Brands ( STZ ), a position it initiated in the final quarter of 2024. At less than 0.1% of the portfolio prior to the liquidation, STZ was immaterial.

The bottom line on Berkshire's holdings

Source: https://www.kiplinger.com/investing/stocks/stocks-berkshire-hathaway-bought-sold-q2-2026?.tsrc=rss