Berkshire Hathaway increased its holdings in Delta Air Lines and Alphabet while continuing to reduce its Bank of America position. The conglomerate now owns 6.8% of the US lender.
11:09 AMFortune10 stories from 4 sources
Berkshire shifts toward tech as strong profits buoy markets
Day’s Recap
Supporting Articles
Berkshire Hathaway increased its Alphabet holding by $17 billion, making the Google parent its third-largest equity position.
8:50 AMCNBC
A leading economist says tariff refunds are adding to corporate profits and economic output, alongside other favorable forces pushing U.S. growth toward a 4.3% annualized pace. The estimate portrays an economy benefiting from several simultaneous tailwinds.
3:08 PMFortune
S&P 500 companies are exceeding Wall Street’s already-high earnings expectations, reinforcing the positive backdrop for stocks trading near record levels.
9:00 AMBloomberg Markets
The SEC alleges that a New York financier’s operation raised $74 million from retirees by selling interests tied to private companies including SpaceX, Anduril, Anthropic, and Perplexity while charging undisclosed fees. Andrew Spaventa denied the allegations and said he plans to defend himself.
10:38 AMFortune11:09 AMFortune
Berkshire pads Delta, Alphabet stakes as Abel taps cash pile
Summary
Berkshire Hathaway increased its holdings in Delta Air Lines and Alphabet while continuing to reduce its Bank of America position. The conglomerate now owns 6.8% of the US lender.
The shift shows Greg Abel putting Berkshire's cash to work while trimming a long-held financial
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Berkshire's reallocations offer an early signal of how Abel may reshape the portfolio after Warren Buffett.
8:50 AMCNBC
Berkshire adds $17 billion to Alphabet stake
Summary
Berkshire Hathaway increased its Alphabet holding by $17 billion, making the Google parent its third-largest equity position.
The purchase gives Alphabet a much larger role in Berkshire’s portfolio and represents a substantial
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A multibillion-dollar Berkshire commitment can reshape perceptions of Alphabet and influence how investors assess its long-term value.
2 stories · 2 sources
3:08 PMFortune
Tariff refunds are juicing corporate profits and GDP as more tailwinds converge to propel growth to a blistering 4.3% pace, top economist says
Summary
A leading economist says tariff refunds are adding to corporate profits and economic output, alongside other favorable forces pushing U.S. growth toward a 4.3% annualized pace. The estimate portrays an economy benefiting from several simultaneous tailwinds.
The decisive shift is that tariff refunds are acting as a fiscal boost rather than
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The forecast strengthens the case for robust near-term growth while warning that headline momentum may partly reflect temporary policy effects.
9:00 AMBloomberg Markets
‘Outlier’ S&P 500 Earnings Strength Cheers Wall Street’s Bulls
Summary
S&P 500 companies are exceeding Wall Street’s already-high earnings expectations, reinforcing the positive backdrop for stocks trading near record levels.
The decisive shift is that earnings growth is delivering upside surprises rather than merely meeting
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Stronger-than-expected profits are helping sustain elevated stock prices, but continued gains now depend on companies extending the surprise.
10:38 AMFortune
Boiler room raised $74 million selling retirees SpaceX, Anduril, Anthropic, and Perplexity while reaping ‘massive hidden fees,’ SEC claims
Summary
The SEC alleges that a New York financier’s operation raised $74 million from retirees by selling interests tied to private companies including SpaceX, Anduril, Anthropic, and Perplexity while charging undisclosed fees. Andrew Spaventa denied the allegations and said he plans to defend himself.
The case centers on whether investors were steered into opaque private-market products without a clear
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The SEC’s allegations underscore the risks of selling celebrity-backed private investments to ordinary savers without transparent pricing and compensation.
Other Developments
A curated list of other prominent stories from this day.
Harvard’s investment fund disclosed a $2.2 billion stake in SpaceX. The University of California’s investment arm, the University of North Carolina, and Washington University in St. Louis have also profited from holdings in the company.
6:52 PMFortune
Nvidia's disclosed holdings included a $21 billion stake in SpaceX and $30 billion in Intel as of June 30. It also held positions in Coherent, Generate Biomedicines, Nebius, Nokia and Synopsys.
11:04 AMFortune
Goldman Sachs identified a group of preferred stocks after reviewing companies’ second-quarter earnings results.
9:34 AMCNBC
The SEC has proposed changes to rules that can bar investment advisers from managing public pension assets after political contributions to officials who influence those funds. The agency is seeking public feedback on amendments intended to reduce compliance burdens and address longstanding concerns.
1:05 AMEconomic Times6:52 PMFortune
Harvard fund discloses $2.2 billion stake in Musk’s SpaceX
Summary
Harvard’s investment fund disclosed a $2.2 billion stake in SpaceX. The University of California’s investment arm, the University of North Carolina, and Washington University in St. Louis have also profited from holdings in the company.
The disclosure shows how heavily major university endowments now depend on gains from private technology
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
SpaceX has become a major driver of institutional investment returns before any public listing.
11:04 AMFortune
Nvidia has $21 billion SpaceX stake, $30 billion in Intel shares
Summary
Nvidia's disclosed holdings included a $21 billion stake in SpaceX and $30 billion in Intel as of June 30. It also held positions in Coherent, Generate Biomedicines, Nebius, Nokia and Synopsys.
The holdings show Nvidia's capital footprint extends well beyond its own chip business and includes
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Nvidia is becoming a major technology investor, not only a dominant semiconductor company.
9:34 AMCNBC
Goldman says these stocks are top ideas in the wake of their 2Q earnings
Summary
Goldman Sachs identified a group of preferred stocks after reviewing companies’ second-quarter earnings results.
The post-earnings recommendations show where Goldman sees results translating into stronger investment cases, rather than
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Goldman’s selections can influence institutional positioning as investors distinguish durable earnings strength from one-quarter surprises.
1:05 AMEconomic Times
SEC proposes easing 'pay-to-play' rules for investment advisers
Summary
The SEC has proposed changes to rules that can bar investment advisers from managing public pension assets after political contributions to officials who influence those funds. The agency is seeking public feedback on amendments intended to reduce compliance burdens and address longstanding concerns.
The proposal could widen access to public pension mandates for advisers previously exposed to contribution-related
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Looser rules could reshape competition for public pension contracts and reignite debate over pay-to-play risks.
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