Berkshire Doubles Down on Alphabet Investment

Berkshire Hathaway significantly increased its investment in Alphabet by 83% in the second quarter, making it the parent of Google and YouTube its third-largest stock holding. The conglomerate now owns nearly 106 million Alphabet shares worth about $37.8 billion as of June 30.

This boost was announced earlier this year when Berkshire invested $10 billion to help Alphabet expand its AI infrastructure. Apple remains Berkshire's largest stock investment, worth $66 billion at the end of June, followed by American Express at $51.3 billion.

Berkshire also disclosed changes in other investments, including eliminating its stake in Constellation Brands and adding to shares in Delta Air Lines and Macy's. The company's cash pile fell to $364.7 billion on June 30 from $380.2 billion on March 31, a decline that reflects $4.5 billion of stock buybacks.

Warren Buffett, Berkshire's chairman, claimed credit for the Alphabet investment, saying it was his idea and that he consults with CEO Greg Abel on capital allocation.