- Berkshire Hathaway added $17 billion to its stake in Alphabet in the second quarter, according to a regulatory filing released Friday, making the Google parent the third-largest holding in the conglomerate's portfolio.
- Greg Abel took over as CEO of Berkshire Hathaway at the start of the year, stepping in for Warren Buffett, who has stepped back from day-to-day affairs.
- In June, Greg Abel disclosed a $10 billion stock investment in Alphabet.
- Berkshire Hathaway also increased positions in homebuilders during the period.
- Apple remains Berkshire Hathaway's largest holding, valued at $66 billion as of June 30.
- Alphabet, Delta, and Pershing Square traded higher in extended trading following the disclosures.
- Berkshire Hathaway has doubled down on its stake in Alphabet Inc., which stood at nearly $38 billion at the end of Q2, an 83.2% jump from the previous quarter.
- American Express remains the second-largest holding of Berkshire Hathaway, valued at nearly $52 billion at the end of Q2.
- Coca-Cola is now the fourth-largest holding, valued at nearly $33 billion.
- Bank of America has slipped to the fifth spot in Berkshire Hathaway's largest holdings, valued at $27.5 billion.
Berkshire Hathaway has made significant portfolio adjustments in the second quarter of 2023, marking the first changes under new CEO Greg Abel. The conglomerate added $17 billion to its stake in Alphabet Inc., bringing its total investment to nearly $38 billion, a remarkable 83.2% increase from the previous quarter. Abel's leadership has seen a strategic focus on technology and homebuilders, reflecting a shift in investment priorities.1234678
In addition to Alphabet, Apple remains Berkshire's largest holding, valued at $66 billion, unchanged from the previous quarter. The tech giant's shares have appreciated by 12.9% year-to-date. Other significant holdings include American Express at nearly $52 billion and Coca-Cola at $33 billion, both of which have seen no new buying or selling during this period.59
Berkshire's investments in homebuilders indicate a bullish outlook on the housing market, as the company deploys its substantial cash reserves. The conglomerate's diversified portfolio also includes Chevron and Occidental Petroleum, with the latter's stake valued at nearly $13 billion and showing a 38% increase year-to-date. Overall, Berkshire Hathaway's strategic moves under Abel's leadership signal a proactive approach to navigating market dynamics.
“The filing also revealed that Berkshire trimmed its Bank of America stake by 5.92% to $27.5 billion, while Coca-Cola held steady at $33 billion. Alphabet shares have gained 8.95% year-to-date, and the conglomerate's top 10 list includes Chevron, Occidental, and Chubb.”
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