Warren Buffett: the AI positioning
The thesis, in their own moves
- Q1 2026 brought the pivot: Berkshire exited Amazon entirely and boosted Alphabet by 225% — shifting its AI exposure from e-commerce and cloud toward search and full-stack AI. Q1 also cut the book from 40 names to 26 with 15 full exits.
- The Alphabet bet is Berkshire's clearest AI statement: search cash flow, Gemini, and in-house TPUs — full-stack AI still valued below the pure-play AI names — and the Q2 2026 filing added to it again, to 12.6% of the book across both share classes.
- The Q2 turn, per public reporting: 14 quarters of net selling ended with ~$19.8B of net buying plus ~$4.5B of buybacks — the buys are cash-flowing businesses, not narratives.
AI-related holdings (2026-06-30)
| Ticker | Company | Q2 status | Note |
|---|---|---|---|
| AAPL | Apple | Held | #1 holding at 22.0% of the book (12 separate filing lines, combined) |
| GOOGL | Alphabet | Added | Added again — Class A 9.4% + Class C 3.2% = 12.6% of the book; the clearest AI bet, two quarters running |
| AMZN | Amazon | Exited | Exited in Q1 2026; the Q2 filing confirms it was not rebought |
Positions shown are the AI-relevant subset of a much larger book — this is not a complete portfolio. Figures come from the public Q2 2026 13F filing (holdings as of 2026-06-30, filed 2026-08-14) and the reporting cited below. 13F filings are quarterly snapshots and may not reflect current positions.
Sources
- SEC EDGAR — Berkshire Hathaway Q2 2026 13F, line-by-line filing (filed 2026-08-14)
- CNBC — Berkshire adds $17 billion to Alphabet stake (2026-08-15)
- Forbes — Berkshire Hathaway turns buyer as Buffett backs Alphabet (2026-08-15)
- Seeking Alpha — Tracking Berkshire Hathaway portfolio, Q2 2026 update
- Seeking Alpha — Tracking Berkshire Hathaway portfolio, Q1 2026 update
- MarketMinute — Berkshire bets on Alphabet's AI future
- Forbes — Berkshire portfolio shifts as Abel reshapes the playbook
Frequently asked questions
Yes, but through businesses rather than pure-play AI names. As of the Q2 2026 13F (holdings of 2026-06-30, filed 2026-08-14), Berkshire's AI-adjacent exposure runs through Apple (22%, still the largest holding) and Alphabet, added again in Q2 to 12.6% of the book across both share classes. Amazon, exited in Q1, was not rebought.
Alphabet pairs search cash flow with Gemini and in-house TPUs — a full-stack AI position still valued below pure-play AI names, which fits the circle-of-competence and valuation discipline Berkshire has always applied. After the 225% increase in Q1 2026, the Q2 filing shows the stake raised again, to Class A 9.4% plus Class C 3.2% of the book.
Neither, on the evidence. Q2 2026 ended a 14-quarter net-selling streak with roughly $19.8B of net buying per public reporting — but the buys are cash-flowing businesses, with Alphabet the AI-relevant one. The discipline remains valuation and certainty, not narrative.
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