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Greg Abel Makes Massive Alphabet Investment
15 Aug
Summary
- Berkshire Hathaway under Greg Abel ended a 14-quarter net-selling streak.
- Alphabet shares worth $37.8 billion were purchased in the second quarter.
- Alphabet is now Berkshire's third-largest holding, behind Apple and Amex.
After three years of accumulating cash, Berkshire Hathaway has shifted its strategy, with new CEO Greg Abel leading a substantial investment. In the second quarter, Berkshire ended a 14-quarter streak of net stock selling by purchasing approximately 48 million shares of Alphabet. This acquisition, valued at $37.8 billion, propelled Alphabet to become Berkshire's third-largest portfolio holding, trailing only Apple and American Express.
Berkshire's filings revealed additional acquisitions, including shares in Delta Air Lines, Macy's, Lennar, and The New York Times. However, the Alphabet purchase stands out, representing a significant strategic pivot. This move underscores Alphabet's central role in Berkshire's portfolio, further emphasized by a direct $10 billion investment made in June to support Alphabet's AI infrastructure development.
