Every quarter, big institutional investors managing more than $100 million are required to file a document called Form 13F with the U.S. Securities and Exchange Commission (SEC). This filing lists the U.S. stocks they held at the end of the quarter, giving everyday investors a rare peek behind the curtain of Wall Street's most famous money managers.
The Q2 2026 wave of filings — covering holdings as of June 30, 2026, and made public on August 14, 2026 — is one of the most closely watched in years. It includes moves from Warren Buffett's Berkshire Hathaway, Bridgewater Associates (the firm founded by Ray Dalio), and Stanley Druckenmiller's Duquesne Family Office. Below, we break down what each of them bought, sold, and why it matters — in plain English, with charts to make the numbers easy to digest.
Before diving in, one important caveat: 13F filings are backward-looking. Because funds have up to 45 days after quarter-end to file, the data you're reading is already six weeks old by the time it becomes public, and it doesn't capture short positions, options hedges, or non-U.S. holdings. Think of it as a valuable snapshot, not a live trading signal.
1. Warren Buffett & Berkshire Hathaway: Back to Buying
For the first time in 14 consecutive quarters, Berkshire Hathaway was a net buyer of stocks — purchasing $19.8 billion worth of equities against just $3.7 billion in sales. That's a meaningful shift after nearly four years of Buffett and his team trimming the portfolio and stockpiling cash.
The headline move was a massive bet on Alphabet (Google's parent company). Buffett personally said, "I initiated it," referring to a private placement in June that added roughly $10 billion to Berkshire's Alphabet stake. That single purchase pushed Class A shares up 45% and Class B shares up more than 650%, making Alphabet Berkshire's third-largest public holding at about $36.6 billion.
It's also worth noting the leadership context: Greg Abel officially took over as Berkshire's CEO at the start of 2026, but Buffett — now in a chairman/advisory role — is clearly still shaping some of the biggest calls, including this Alphabet purchase.
👇Berkshire Hathaway Q2 2026 — Key Moves
| Action | Ticker(s) | Detail |
|---|---|---|
| New Position | D.R. Horton (DHI) | Homebuilder, newly added |
| Big Increase | Alphabet (GOOGL/GOOG) | +$10B private placement; now ~$36.6B position |
| Increase | Delta Air Lines (DAL) | Stake expanded |
| Increase | Lennar (LEN) | Stake expanded |
| Increase | New York Times (NYT) | Stake expanded |
| Full Exit | Constellation Brands (STZ) | Position eliminated |
| Trimmed | Bank of America (BAC) | Reduced to harvest gains |
| Trimmed | DaVita, Kroger, Ally Financial, Capital One | Reduced |
| Corporate Action | Taylor Morrison | Acquired outright for $6.8B |
| Buyback | Berkshire shares | $4.53B repurchased |
Total portfolio value: roughly $299 billion, with the top five holdings (Apple, American Express, Coca-Cola, Alphabet, and Bank of America) making up about 72–76% of the entire equity book. Apple, Amex, and Coca-Cola remain untouched — Buffett's long-term "forever" holdings.
2. Bridgewater Associates: A Quieter Story Than the Name Suggests
Here's a detail many readers miss: Ray Dalio no longer owns or runs Bridgewater. In August 2025, he sold his remaining stake in the firm he founded back in 1975 out of a two-bedroom Manhattan apartment, and stepped away from the board entirely. Today, Bridgewater's 13F reflects decisions made by its current co-CIO team — not Dalio's personal views. Separately, Dalio's own family office now files its own, much smaller 13F, which invests very differently (a diversified "All Weather"-style allocation).
With that context set, here's what institutional Bridgewater did in Q2 2026:
- The fund now holds 999 disclosed positions worth about $24.38 billion, with a 24% turnover rate.
- It added 213 brand-new positions and completely exited 209 others — a sign of active rebalancing rather than simple buy-and-hold.
- The biggest thematic shift: rotating toward core S&P 500 index ETFs (SPY, IVV) and away from some high-flying tech names.
👇Bridgewater Associates Q2 2026 — Key Moves
| Action | Ticker | Detail |
|---|---|---|
| Top Holding | SPY | 16.30% of portfolio |
| 2nd Holding | IVV | 9.22% of portfolio |
| Reduced | Amazon (AMZN) | Cut by ~53.85% (2.36M+ shares) |
| Reduced | Micron (MU) | Cut by ~92.09% (1.36M+ shares) |
| Exited | Cisco Systems (CSCO) | All 822,892 shares sold |
| Exited | ASE Technology (ASX) | All 1.5M+ shares sold |
| New/Growing | Nvidia, Broadcom | Remain top-5 positions |
The takeaway: Bridgewater's institutional book is leaning more heavily on broad index exposure while trimming concentrated bets in individual tech stocks — consistent with a macro-driven, risk-balanced philosophy rather than a stock-picker's approach.
3. Stanley Druckenmiller & Duquesne Family Office: Chips, Bitcoin, and Biotech
Druckenmiller, famous for his roughly 30% annualized returns from 1981–2010 while running George Soros's Quantum Fund, now manages his own money through Duquesne Family Office. His Q2 2026 13F shows a much smaller but far more concentrated portfolio than Berkshire or Bridgewater — about $5.21 billion across roughly 95 positions.
The most eye-catching move: Duquesne exited its Ethereum ETF (ETHB) position worth about $294 million and simultaneously initiated a new position in the spot Bitcoin ETF (IBIT) worth roughly $264 million — a clear rotation within the crypto space rather than an exit from it.
👇Duquesne Family Office Q2 2026 — Key Moves
| Action | Ticker | Detail |
|---|---|---|
| Top Holding | Natera (NTRA) | 16.6% of portfolio |
| Exited | Ethereum ETF (ETHB) | ~$294M position closed |
| New Position | Bitcoin ETF (IBIT) | ~$264M initiated |
| New Position | CDW Corp | ~$140M initiated |
| New Position | Alphabet (GOOGL) | Newly added |
| Increased | Taiwan Semiconductor (TSM) | +$114M |
| Increased | STMicroelectronics (STM) | +$142M |
| Increased | Amazon (AMZN) | +$187M |
| Increased | Insmed (INSM) | +$107M (+140%) |
Druckenmiller's portfolio leans heavily on healthcare (Natera, Insmed) and semiconductors (TSM, STM), while his crypto swap suggests he sees more near-term upside in Bitcoin than Ethereum. True to his reputation as a "sector rotator," he opened 25 brand-new positions this quarter while trimming 18 others.
4. Side-by-Side: How the Three Compare
| Metric | Berkshire Hathaway | Bridgewater Associates | Duquesne Family Office |
|---|---|---|---|
| Manager(s) | Warren Buffett / Greg Abel | Institutional co-CIO team (not Dalio) | Stanley Druckenmiller |
| Reported 13F Value | ~$299B | ~$24.38B | ~$5.21B |
| Number of Positions | 29 | 999 | ~95 |
| Q2 Direction | Net buyer (first time in 14 quarters) | Heavy rebalancing (213 new, 209 exited) | Concentrated rotation (25 new, 18 trimmed) |
| Signature Move | $10B Alphabet stake via private placement | Rotation toward S&P 500 ETFs | Swapped Ethereum ETF for Bitcoin ETF |
💢Final Summary
- Berkshire Hathaway turned into a net buyer for the first time in 14 quarters, with Warren Buffett personally driving a huge new Alphabet stake while the fund trimmed financials like Bank of America.
- Bridgewater Associates — now run by an institutional team, not Ray Dalio personally — leaned further into core S&P 500 index ETFs while sharply cutting Amazon and Micron exposure.
- Duquesne Family Office (Stanley Druckenmiller) kept a concentrated, high-conviction book anchored in healthcare and semiconductors, and rotated out of Ethereum into Bitcoin exposure.
- All three funds show very different philosophies — Buffett's concentrated value bets, Bridgewater's broad macro diversification, and Druckenmiller's nimble sector rotation — a good reminder that "smart money" isn't one single strategy.
- Remember: 13F data is delayed by up to 45 days and excludes shorts, options, and non-U.S. holdings, so treat it as a research tool, not a real-time trading signal.
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※Sources & References
- Forbes — "Berkshire Hathaway Turns Buyer As Buffett Backs Alphabet" (Aug 15, 2026)
- Seeking Alpha — "Berkshire Hathaway bulks up on Alphabet, Delta Air, exits Constellation Brands, among Q2 trades" (Aug 14, 2026)
- Seeking Alpha — "Tracking Berkshire Hathaway Portfolio – Q2 2026 Update"
- Kiplinger — "All the Stocks Berkshire Hathaway Bought and Sold in Q2"
- CNBC — "Berkshire Hathaway Portfolio Tracker"
- 13F.info — Berkshire Hathaway Inc. 13F Filings
- GuruFocus — "Ray Dalio's Top Q2 2026 Move: State Street SPDR S&P 500 ETF Trust"
- GuruFocus — Bridgewater Associates Latest Trades, 13F, 13D/G
- InvestingTimeDaily — "Ray Dalio's Portfolio: Bridgewater & All Weather 2026"
- StockCircle — Stanley Druckenmiller / Duquesne Family Office Portfolio
- 13F.info — Duquesne Family Office LLC 13F Filings
- InvestorLens — Stanley Druckenmiller Portfolio (2026) 13F Holdings
- Insider Edges — Stanley Druckenmiller / Duquesne Family Office LLC 13F Portfolio
💣Disclaimer : This article is for informational and educational purposes only and does not constitute financial or investment advice.
13F data reflects positions as of quarter-end and is subject to a reporting lag of up to 45 days.
