In the second quarter, Berkshire Hathaway ramped up its investment in Alphabet, acquiring approximately 106 million shares valued at $37.9 billion, marking an 83% increase and making Alphabet its third-largest U.S.-listed equity holding, behind only Apple and American Express.
This surge is largely attributed to a $10 billion private stock purchase aimed at supporting Alphabet's AI infrastructure expansion. Additionally, Berkshire expanded its investments in Delta Air Lines, increasing its holdings by 44% to 57.3 million shares worth about $5.4 billion, and boosted its stake in homebuilder Lennar by nearly 30%. The company also initiated a small position in D.R. Horton.
Notably, this marks a departure from a 14-quarter streak of net stock sales, as Berkshire made nearly $20 billion in net purchases during the quarter, reducing its cash reserves to $365.5 billion from a record $397.4 billion. The quarter also included the completion of Berkshire's acquisition of Taylor Morrison, further solidifying its commitment to the housing sector