Berkshire Hathaway has revealed a $4.3 billion stake in Alphabet, Google's parent company, marking a significant investment in the tech sector. The investment makes Alphabet the conglomerate's tenth-largest equity holding. This move is noteworthy given Warren Buffett's historical reluctance to invest in high-growth technology companies. The investment likely reflects confidence in Alphabet's long-term prospects, particularly its potential in AI and cloud computing.
Alongside the Alphabet investment, Berkshire Hathaway has continued to reduce its stake in Apple. The company decreased its Apple holdings by 15% in the third quarter, bringing its total Apple stake to 238.2 million shares, valued at $60.7 billion. Despite these reductions, Apple remains Berkshire Hathaway's largest equity holding.
The filing detailing these changes represents the last before Warren Buffett steps down as chief executive after 60 years. The Alphabet investment may have been initiated by investment managers Todd Combs or Ted Weschler.
