13F filings for the second quarter are due Friday August 14, 2026 and the Berkshire Hathaway (NYSE:BRK)(NYSE:BRK) report is among the most anticipated as it marks only the second quarterly (Q2) report with Greg Abel as CEO. Here’s a preview of what the report could show.
New Stock Positions
Berkshire Hathaway made major changes to their investment portfolio in Q1, the first without legendary investor Warren Buffett as CEO.
Those moves included building three new stakes—Delta Air Lines (NYSE:DAL), Macy’s Inc (NYSE:M) and Alphabet Class C (NASDAQ:GOOG). Recent earnings reveal that Berkshire put significant cash to work, including a $10 billion investment in Alphabet (NASDAQ:GOOGL), $4.5 billion in share buybacks, and acquisitions of Taylor Morrison and OxyChem.
For the first time in a while, the conglomerate was a net buyer of equities, buying more than it sold. This signals that more new positions could be on the horizon.
The last three stocks bought, and first under Abel as CEO, covered airlines, tech and retail. Based on those purchases and Abel’s limited public buying history, it’s hard to determine which stocks or sectors the company looked at for the second quarter.
Airlines and tech were two sectors that Buffett mostly avoided. Yet, investors may see Abel buy shares of, say, Southwest Airlines (NYSE:LUV) or Microsoft Corporation (NASDAQ:MSFT).
These are only loose predictions based on Abel’s recent buying history and investors will have to wait until Friday to find out if there are indeed new positions.
Exited Positions
Berkshire Hathaway exited 16 positions in Q1. While Q2 isn’t expected to bring another wave of major exits, Abel could still make significant adjustments to reshape the portfolio.
The most obvious choice to exit would be Kraft Heinz (NASDAQ:KHC), which Abel said before he would be selling. In his first shareholder letter, the new CEO added criticism on the fund’s stake in the consumer products company.
“Our investment in Kraft Heinz has been disappointing,” Abel previously said. “Even after considering the preferred equity component in our original Heinz investment, our return has been well short of adequate.”
Another position likely due for a complete exit is alcoholic beverage company Constellation Brands (NYSE:STZ). Abel cut the position by 95% in Q1, not leaving many shares left to sell.
Jefferies Financial (NYSE:JEF) was among the smallest positions in the first quarter and Abel could look to exit the small stake.
“Apple, American Express, Coca-Cola, and Moody’s — businesses we understand well, have a high regard for their leaders, and expect will compound over decades,” Abel previously wrote.
That leaves remaining holdings vulnerable to further cuts or full liquidations this quarter.
Changes to Portfolio
In Q1, Abel increased four stakes and reduced six. Multiple positions are likely to see activity in the second quarter as Abel reshapes the portfolio.
Outside of Apple, American Express, Coca-Cola, and Moody’s, all holdings are on watch for potential trims or exits.
Following recent additions, the Alphabet position has grown and is expected to rank among Berkshire’s top holdings by the end of Q2.
Bank of America (NYSE:BAC) has been a core holding for years, though the position was trimmed slightly in Q1. Given Abel’s exits across other financial stocks earlier this year, he could look to trim the Bank of America stake further.
Another position that could see a boost is The New York Times (NYSE:NYT). As one of the final buys initiated under Buffett, Abel may have taken advantage of Q2 stock pullbacks to build the position in honor of his mentor.
After 16 exits, two new additions, and several adjustments in the first quarter, Q2 may feature fewer moving pieces—offering a clearer picture of which sectors Abel favors for the long haul.
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