Berkshire Hathaway Raises Alphabet Stake 83% to $37.8 Billion

Warren Buffett’s Berkshire Hathaway has significantly increased its investment in Alphabet, the parent company of Google and YouTube, making the technology giant the conglomerate’s third-largest publicly traded stock holding.

In a regulatory filing released Friday, Berkshire disclosed that it owned nearly 106 million Alphabet shares worth approximately $37.8 billion as of June 30. That represents an 83 per cent increase from the roughly 57.8 million shares it held three months earlier.

The move marks a notable expansion of Berkshire’s exposure to one of the world’s biggest technology companies and comes as Alphabet continues to pour billions of dollars into artificial intelligence infrastructure.

Part of Berkshire’s increased position includes a $10 billion investment in Alphabet announced in June, which was intended to support the company’s expansion of its AI capabilities and infrastructure.

Alphabet now sits behind only Apple and American Express among Berkshire’s largest stock investments. Apple remained the biggest holding at approximately $66 billion, while American Express ranked second at about $51.3 billion at the end of June.

Coca-Cola ranked fourth, followed by Bank of America.

The latest portfolio changes also signal a shift in Berkshire’s investment activity under Chief Executive Greg Abel, who took over the company’s leadership after Warren Buffett stepped down as CEO at the end of 2025.

Berkshire purchased approximately $23.5 billion worth of stocks during the second quarter, while selling about $3.7 billion. The purchases ended a 14-quarter period during which the company had consistently sold more stocks than it bought.

Berkshire also increased its position in Delta Air Lines by 44 per cent during the quarter, taking its holdings to about 57.3 million shares valued at nearly $5.4 billion.

Its investment in Macy’s more than doubled to approximately 7.3 million shares worth $173 million. The company also added shares of homebuilder Lennar and disclosed a small $580,000 position in another homebuilder, D.R. Horton.

At the same time, Berkshire exited its roughly 18-month investment in alcohol producer Constellation Brands and reduced positions in several companies, including Ally Financial, Bank of America, Capital One, DaVita, Kroger and Nucor.

The changes were disclosed in Berkshire’s filing covering its US-listed stock holdings as of June 30. Those investments represented most of the company’s $323.8 billion equity portfolio.

Berkshire’s enormous cash reserves also declined during the quarter. Its cash position fell from $380.2 billion at the end of March to $364.7 billion by June 30, reflecting increased investment activity as well as approximately $4.5 billion spent on share buybacks.

The Alphabet investment is particularly notable because Berkshire had only recently begun building its position in the company. Buffett previously said that investing in Alphabet was his idea and that Berkshire began accumulating the shares during the third quarter of 2025.

Although Buffett is no longer Berkshire’s chief executive, he remains chairman and continues to be involved in the company’s capital allocation discussions. Abel has said he oversees the vast majority of Berkshire’s stock portfolio, while investment manager Ted Weschler manages a smaller portion.

The latest filing does not reveal which Berkshire executive was responsible for each individual purchase or sale.

Berkshire’s growing Alphabet stake nevertheless stands out as one of the biggest moves in its portfolio at a time when artificial intelligence is reshaping the technology sector.

With Google investing heavily in AI infrastructure and services, Berkshire’s decision to substantially increase its exposure suggests strong confidence in Alphabet’s long-term position in the rapidly expanding AI-driven economy.