Berkshire Breaks Net-Selling Streak with $38 Billion Alphabet Buy

Berkshire Hathaway's new CEO Greg Abel has ended a 14-quarter streak of net selling by buying 48 million shares of Alphabet, worth $37.8 billion, in the second quarter.

This purchase has catapulted Alphabet to Berkshire's third-largest holding, making up 10% of the portfolio, behind only Apple and American Express.

Buffett told CNBC in June that buying Alphabet was his idea, and he still talks with Abel about where to put Berkshire's money. Abel directs 94% of Berkshire's equity portfolio, with longtime manager Ted Weschler handling the remaining 6%.

Berkshire also added positions in Delta Air Lines, Macy's, Lennar, and The New York Times, but Alphabet remains the standout purchase.