Buffett’s Final $140 Billion Trade: Here’s Where All His Stock Is Going, and Who Got Left Out

Berkshire Hathaway's CEO Greg Abel stated that energy infrastructure, particularly grid permitting and interconnection delays, is the biggest constraint for AI data centers, not chip shortages. Data centers already account for 8% of Berkshire Energy's Iowa load. Berkshire invested $6.5 billion in Alphabet at a 6.5% discount, part of a $24 billion Q2 equity push driven by AI conviction. Abel emphasized serving hyperscalers only if existing ratepayers face no rate increases and ideally benefit.

Berkshire Hathaway's Greg Abel increased his stake in Delta Air Lines by 44% to 57 million shares, worth $5.4 billion, in Q2 2026. Delta's revenue now includes 61% from premium, loyalty, and Amex streams, differing from Warren Buffett's past critiques of the airline industry. Delta's stock has risen 44% over the past year, with a forward P/E of 13 and an analyst target of $105.31.

U.S. and Israel strikes on Iran, including attacks on its nuclear site, have escalated Middle East tensions, causing U.S. stock futures to decline. Defense and oil stocks rose, with Lockheed Martin (LMT) and Exxon Mobil (XOM) gaining. Crude oil prices surged to eight-month highs. Berkshire Hathaway (BRK-A, BRK-B) shares fell after missing Q4 earnings expectations.

Berkshire Hathaway CEO Greg Abel deployed about $23.5B in Q2 2026, ending a 14-quarter net selling streak, per an Aug. 11, 2026 8-K. Berkshire used cash to fund a $10B private placement in Alphabet (GOOG/GOOGL), added to Lennar, acquired Taylor Morrison for $72.50/share, and repurchased about $4.5B of its own shares.

Berkshire Hathaway shares rose to their highest level since Warren Buffett’s May 2025 CEO departure, after successor Greg Abel’s cash deployment and results that beat analysts’ expectations. Cash fell to $364.7B (June 30). Q2 operating profit rose 16% to $12.98B, net income to $25.67B. Berkshire repurchased $4.5B stock and bought $23.5B of other stocks, including $10B in Alphabet. Analysts at KBW and UBS raised forecasts.

Berkshire Hathaway (BRK.B) reported Q2 operating profit of $12.98B, up 16%, and net income of $25.67B, more than double, both above forecasts, with revenue rising 10% to $101.81B. It repurchased $4.5B of its shares in April-June and $3.3B in July, while buying about $20B more stock than it sold. Cash fell to $364.7B. Geico underwriting profit fell 45%.