Warren Buffett's Berkshire raises Alphabet stake 83% to $37.8B
Warren Buffett's Berkshire Hathaway boosted its stake in Alphabet (yep, Google's parent) by 83% last quarter, making it its third-biggest holding after Apple and Amex.
As of June 30, it held nearly 106 million shares, worth $37.8 billion, up from 57.8 million shares three months earlier.
Part of that investment went straight into helping Alphabet ramp up its AI game.
Berkshire buys $23.5B trims cash pile
This move signals a shift for Berkshire: after over three years mostly selling stocks, it bought $23.5 billion worth in the second quarter alone, dropping its cash pile to $364.7 billion (down from $380.2 billion in March).
It also upped stakes in Delta Air Lines and Macy's, exited Constellation Brands entirely, and, while CEO Greg Abel manages most investments now, Buffett said it was his idea to invest in Alphabet and that he and Abel consult on how Omaha, Nebraska-based Berkshire allocates capital.