Warren Buffett is ‘still in the game’: The Omaha Oracle may be making more Berkshire investment decisions than you think

After six decades at the helm, Warren Buffett handed the reins of Berkshire Hathaway to longtime lieutenant Greg Abel at the end of last year. But for the Oracle of Omaha, stepping down as CEO apparently doesn't mean sitting on the sidelines, especially when it comes to deciding where Berkshire puts its money.

Buffett, who remains Berkshire's chairman, still appears to have considerable influence over the conglomerate's roughly $300 billion U.S. stock portfolio . That influence is particularly notable now, as Berkshire begins putting some of its enormous cash pile back to work.

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Berkshire's latest portfolio disclosures show that it boosted its stake in Google parent Alphabet by 83% during the second quarter, bringing its holdings to nearly 106 million shares worth roughly $38 billion as of June 30. That makes Alphabet Berkshire's third-largest U.S. stock holding, behind only Apple and American Express.

Coming just months after Abel took over as CEO, the growing Alphabet stake might have looked like an early sign of Berkshire's new chief putting his stamp on its investment portfolio. Except Buffett said it was his call.

In a July CNBC interview , Buffett said he initiated Berkshire's investment in Alphabet, dispelling speculation that the position originated with Abel.

Alphabet wasn't the only sign that Berkshire was opening its wallet again.

The company bought $23.5 billion worth of stocks during the second quarter while selling just $3.7 billion, reversing a 14-quarter streak in which it sold more stocks than it bought.

That long stretch of selling helped Berkshire amass a record $397.4 billion in cash and short-term investments by the end of March. As CEO, Buffett had repeatedly struggled to find attractive places to put that money.

Buffett's complicated relationship with tech

Buffett's enthusiasm for Alphabet is notable for another reason: He has historically shied away from technology stocks. Berkshire didn't invest in Alphabet until the third quarter of 2025, long after Google had come to dominate online search and digital advertising and become a major player in cloud computing.