Warren Buffett’s investment giant, Berkshire Hathaway, has taken a major new position in Google’s parent company, Alphabet, purchasing nearly 18 million shares during the third quarter of the year.
A regulatory filing released on Friday shows that Berkshire now owns 17.9 million Alphabet shares — about 0.31% of the entire company. The stake was valued at roughly $4.9 billion at the close of trading.
At the same time, Berkshire continued to scale back some of its other big holdings. The filing confirmed further cuts to its investments in Bank of America and Apple, two companies that have long been among Buffett’s largest bets.
The move into Alphabet marks a notable shift for Berkshire, which for years avoided large technology stocks apart from Apple. Alphabet’s strong cash flow, powerful advertising business and growing investments in artificial intelligence appear to have made it attractive to Buffett’s team.
The filing did not reveal whether Buffett himself selected the Alphabet investment or if it came from Todd Combs or Ted Weschler, the two portfolio managers who also make major decisions for Berkshire.
The disclosure comes during a volatile period for US markets, with investors keeping a close eye on tech-sector earnings and Federal Reserve signals. For Berkshire, the Alphabet purchase signals continued confidence in the long-term strength of major US technology companies — even as it trims some of its older positions.
