Buffett's Berkshire Bets Big on Alphabet
Berkshire Hathaway ended its 14-quarter streak of selling stocks by purchasing $23.5 billion worth of shares in the second quarter, according to a recent filing.
The majority of this investment went into Alphabet (NASDAQ:GOOGL), with Berkshire buying $10 billion of Class A and Class C shares at prices significantly lower than what public investors paid.
Alphabet set the price for its $18 billion public stock sale on June 2, selling Class A shares to the public for $355.1982 each, while Berkshire purchased these same shares for $351.81, a discount of about 0.95%.
Buffett told CNBC that he initiated the Alphabet investment personally, stating 'I initiated it' and expressing regret that Berkshire didn't buy Google earlier when its stock was at a lower price.