Greg Abel Grew Berkshire Hathaway's Alphabet Stake by 83% Last Quarter, One of His Boldest Equity Bets Yet as CEO. Is Alphabet Now a Core Berkshire Holding?
Key PointsBerkshire Hathaway has tripled its position in Alphabet since Greg Abel became CEO, with purchases including a $10 billion private-placement deal.
Berkshire Hathaway, under the leadership of CEO Greg Abel, has significantly increased its stake in Alphabet, the parent company of Google, by 83% in the most recent quarter. This marked a bold move for the investment giant, which previously held shares of Alphabet but had not done so before the transition to Abel's leadership. With this addition, Alphabet has become the third-largest holding in Berkshire's equity portfolio, occasionally edging out to become the fourth-largest depending on the fluctuating stock prices.
Buffett, the mastermind behind Berkshire Hathaway, prefers to categorize his favored stocks into a trio of stocks that he typically endorses. These core holdings have been steadfast investments in the company's portfolio for decades. The first two stocks are Coca-Cola and American Express, which Berkshire Hathaway has been accumulating since the 1990s, and Berkshire has not sold these stocks since their initial purchase.
The third stock in this trio is Apple, a stock that Buffett has consistently touted as a significant part of the portfolio despite selling over 75% of Berkshire's stake in the company in the past, due to the concentration of investment in one company.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
