Warren Buffett’s Berkshire Hathaway reveals new position in Alphabet

Warren Buffett Berkshire Hathaway created a new position AlphabetGoogle’s parent company became the conglomerate’s 10th-largest equity holding at the end of September, according to a regulatory filing.

Berkshire announced a $4.3 billion stake in Alphabet at the end of the third quarter; It’s a surprising move, given Buffett’s traditional value investing philosophy and aversion to fast-growing tech names. owned by Berkshire Apple For years, Buffett has characterized it as a consumer products company rather than a pure technology play.

The purchase was also likely made by Berkshire investment managers Todd Combs or Ted Weschler, who are more active in technology names. One of them started investing Amazon In 2019, Berkshire still owned $2.2 billion worth of e-commerce stocks.

Alphabet has been the market’s standout winner, with its shares up 46% this year. Strong demand for AI has created solid momentum in Alphabet’s cloud business.

Trimming the Apple

Berkshire continued to reduce its massive Apple stake, reducing its position by another 15% in the quarter to $60.7 billion.

Buffett has embarked on a dizzying selling spree in Apple in 2024, slashing two-thirds of Berkshire’s holdings in a surprising move for the famed long-term-oriented investor. Berkshire also cut its holding in the second quarter of this year.

Despite the ongoing selloff, the iPhone maker remains Berkshire’s largest equity holding.

The holding also reversed its own decision Bank of America A 6% stake was added to a bet worth just under $30 billion. Berkshire reduced its holdings Verisign And DaVita also in the third quarter.

Berkshire has been a net seller of stocks for 12 consecutive quarters as valuations continue to rise in the tech-driven bull market.

Buffett, 95, is stepping down as CEO at the end of the year, and longtime lieutenant Greg Abel is set to take the reins. Investors are watching Berkshire’s position closely for clues about the next era of leadership and how its investment approach might evolve.