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Berkshire Boosted Alphabet Stake 83% During Busiest Quarter in Years
Business Insider • • general
Key Points:
- Berkshire Hathaway increased its Alphabet stake by 83% to about 106 million shares, worth nearly $38 billion at the end of June, marking its biggest quarter for stock buying in years under new CEO Greg Abel.
- The company acquired $10 billion of Alphabet stock through a private placement at a discount and purchased an additional 19.6 million shares on the open market last quarter.
- Alphabet became Berkshire's third-largest US stock holding, behind Apple ($66 billion) and American Express ($51 billion), reflecting a significant shift from Warren Buffett's traditional aversion to tech stocks.
- Berkshire also boosted its stake in Delta Air Lines by 44%, established new positions in D.R. Horton, and increased holdings in Lennar and Macy's, while reducing stakes in Capital One, Nucor, Bank of America, Kroger, and exiting Constellation Brands.
- The company spent a net $20 billion on stock purchases in Q2, its largest quarterly investment since 2022, alongside $4.5 billion in stock buybacks, which helped reduce its cash reserves from $380 billion to $365 billion.
