Berkshire Hathaway Doubles Down on Alphabet with 83% Stake Boost

Berkshire Hathaway's recent stock buying spree has seen it boost its Alphabet stake by an impressive 83% in just one quarter.

The investment giant, led by new CEO Greg Abel, purchased approximately 106 million shares of Alphabet, valuing them at nearly $38 billion as of June 30. This significant increase comes on top of the company's existing holdings and a private placement agreement to buy $10 billion worth of Alphabet stock at a discount.

The sharp rise in Berkshire's Alphabet stake is particularly notable given Warren Buffett's long-standing preference for holding Apple stock, which remains the largest position in the company's US portfolio. The new CEO has also taken steps to boost other holdings, such as Delta Air Lines and Lennar, while reducing positions in Bank of America and Kroger.

The busy quarter saw Berkshire spend a net $20 billion on stocks, its largest quarterly outlay since 2022, which helped trim the company's cash pile from a record $380 billion to $365 billion. This significant shift in Berkshire's investment strategy has sparked interest among investors and analysts, who are eager to see how Abel will continue to shape the company's portfolio.