Berkshire Hathaway increased its stake in Alphabet to $37.9 billion
The investment conglomerate Berkshire Hathaway sharply increased its stake in Alphabet—Google’s parent company—during the second quarter. As of the end of June, Berkshire held approximately 106 million shares of Alphabet worth $37.9 billion, according to CNBC, citing regulatory filings.
The number of Alphabet shares in the company’s portfolio rose by 83% over the quarter. By market value, this investment became the third-largest among U.S.-listed holdings in Berkshire Hathaway’s portfolio—behind Apple and American Express. The increase in the position is largely due to a $10 billion private share purchase announced in early June, when Alphabet was seeking capital for a large-scale expansion of its artificial intelligence infrastructure.
According to CNBC, Berkshire Hathaway Chairman Warren Buffett told the network that he personally held an optimistic view of Alphabet, with the support of the company’s CEO, Greg Abel.
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Berkshire also increased its investment in Delta Air Lines: its stake in the airline grew by 44% to 57.3 million shares, which were valued at approximately $5.4 billion at the end of June. The company increased its stake in homebuilder Lennar: the number of Class A shares rose by nearly 30% to 13.1 million, valued at about $1.19 billion, while Class B shares increased by 25% to approximately 298,000. Berkshire also disclosed a new small position in D.R. Horton—3,600 shares.
In the second quarter, the conglomerate made net stock purchases of nearly $20 billion, breaking a streak of 14 quarters of net sales. Berkshire Hathaway’s cash balance fell from a record $397.4 billion three months earlier to $365.5 billion at the end of June. During the quarter, the company also completed the acquisition of Taylor Morrison, a homebuilder based in Scottsdale, Arizona.
