Berkshire Hathaway Dives into Tech with $10 Billion Alphabet Investment

Berkshire Hathaway's CEO Greg Abel is making his mark on the company after Warren Buffett's departure. One of the notable moves was a $10 billion private purchase of Alphabet stock, in addition to buying public shares. This move is significant because it signals that Abel is not afraid to deviate from Buffett's playbook.

The $10 billion investment includes $5 billion in A shares and $5 billion in Class C shares, bought at prices of $351.81 per share and $348.20 apiece, respectively. This addition brings the Alphabet stake to 10.2% of the total portfolio, tying it with Coca-Cola for third place.

Abel's decision to use Berkshire's cash pile in new ways is a departure from Buffett's approach. The company's cash reserve was near $400 billion before the second quarter but has since shrunk to $365.5 billion. This move demonstrates Abel's decisive action and may signal further changes in style.