Berkshire Hathaway sharply increased its stake in Alphabet in the second quarter, vaulting the Google parent into its three biggest stock holdings. The sprawling conglomerate also added to the size of its investments in Delta Air Lines and various homebuilders.
Berkshire, now operating under CEO Greg Abel, owned about 106 million Alphabet shares worth $37.9 billion at the end of June, according to a regulatory filing released Friday. The size of the position jumped 83% in the latest quarter, making Alphabet the third-largest U.S.-listed equity holding at Omaha-based Berkshire by market value. Only investments in Apple and American Express are larger.
The increase largely reflects a $10 billion private stock purchase announced in early June, when Alphabet sought fresh capital to finance its massive AI infrastructure buildout.
Warren Buffett, now chairman at Berkshire, told CNBC he had been behind the bullish view on Alphabet, with Abel's support.
