Berkshire Hathaway Dumps Caution for Billions in Alphabet Bet
Berkshire Hathaway's new CEO, Greg Abel, has made his mark on the company's investment strategy. For three years, Berkshire's cash pile grew as Warren Buffett sold more shares than he bought each quarter.
This changed in the second quarter, with Abel breaking a 14-quarter streak of net selling and instead investing $37.8 billion into Alphabet (GOOG and GOOGL).
The purchase of 48 million shares catapulted Alphabet to Berkshire's third-largest holding, trailing only Apple and American Express.