Berkshire Piles $17 Billion More into Google: Why Is Michael Burry Worried?
Berkshire Hathaway disclosed a $17 billion jump in its Alphabet stake for the second quarter. The move makes Google's parent Berkshire's third largest equity holding.
The disclosure came days after investor Michael Burry criticized new CEO Greg Abel's spending. Berkshire's latest 13F filing also showed its first net stock buying in 14 quarters.
Alphabet Becomes a Core Holding
Berkshire now owns almost 106 million Alphabet (GOOGL) shares. The stake spans Class A and Class C stock. It is worth around $36.6 billion.
That places Alphabet just ahead of Coca-Cola's $35.1 billion stake. It still trails Apple's $69.7 billion position. American Express remains larger too, at $51.9 billion.
About 60% of the new shares came through a private placement. Alphabet and Berkshire announced that $10 billion deal in June. Berkshire bought the remaining $7 billion worth on the open market.
Berkshire also lifted its Delta Air Lines stake by 44%, adding about $1.6 billion. The bet reverses Warren Buffett's long-standing skepticism toward airline stocks. Berkshire exited four carrier stocks at a loss back in 2020.
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