Berkshire Hathaway Shifts Gears with Net Buying Spree
Berkshire Hathaway has ended its streak of net stock selling after 14 consecutive quarters. The conglomerate's second-quarter holdings report, filed with the SEC for the period ending June 30, shows a significant shift in its investment strategy.
The total market value of Berkshire Hathaway's holdings increased to $299 billion, up from $263 billion in the previous quarter. This marks the first time in over a year that the company has been a net buyer, with nearly $20 billion in net purchases.
Berkshire Hathaway increased its stake in Alphabet (GOOGL.US) by 48.1 million shares, making it the company's third-largest holding, valued at $37.8 billion as of mid-year. This position grew by 83% in the second quarter, surpassing Coca-Cola (KO.US) and trailing only Apple (AAPL.US) and American Express (AXP.US).
The company also increased its investment in the aviation sector, growing its stake in Delta Air Lines (DAL.US) by 17.5 million shares, valued at $5.37 billion as of the end of June.