Buffett has been selling U.S. stocks for three years, and now he’s finally buying them back. Berkshire Hathaway just released its Q2 2026 earnings report, showing: In Q2, they bought approximately $23.47 billion worth of stocks and sold about $3.69 billion, with net purchases close to $19.8 billion. This marks the first time in over three years that Berkshire has become a net buyer again, after 14 consecutive quarters of net selling. As of the end of June, the fair value of Berkshire’s stock investments had reached $323.8 billion. The top five holdings are Alphabet (Google), American Express, Apple, Bank of America, and Coca-Cola. The most intriguing one is Alphabet. Berkshire only started building its position last year, and in Q2 this year, they significantly increased their stake, adding about $10 billion. Buffett previously admitted that Alphabet was a company he bought too late, and the initial decision to invest was made by him personally. Holding nearly $400 billion in cash and waiting for over three years, Buffett is now putting close to $20 billion back into the stock market. This doesn’t necessarily mean U.S. stocks will immediately rise, but it does suggest that some prices are starting to look attractive to him. As for whether the market will continue to drop, I have no idea. But hey, if you do end up stuck, at least you’ll be sitting at the same table as the Oracle of Omaha—kind of comforting, right? Haha