Buffett Doubles Down on Alphabet Amid Regulatory Headaches
Warren Buffett's Berkshire Hathaway has significantly increased its stake in Alphabet, the parent company of Google, by purchasing approximately 106 million shares worth around $37.8 billion in the second quarter.
This move lifted Berkshire's holding in Alphabet by 83 percent and made it the third-largest name in its portfolio, behind only Apple and American Express.
The timing is notable as Berkshire had been a net seller of equities for 14 consecutive quarters before turning to being a net buyer in Q2, with $23.5 billion in purchases against just $3.7 billion in sales.
However, the institutional crowd is not unanimous in their support for Alphabet, with some heavyweight investors such as Tiger Global cutting their stake by 45 percent and H&H International trimming nearly 47 percent.