Berkshire Hathaway (BRK.A / BRK.B) has significantly increased its stake in Google parent company Alphabet (GOOGL).
The holding company led by legendary investor Warren Buffett increased its Alphabet stake, consisting of voting and nonvoting shares, by 82% in the year’s second quarter.
Berkshire Hathaway now owns 106 million shares of Alphabet, making it the company’s third largest equity holding after Apple (AAPL) and American Express (AXP).
The Alphabet stake is now worth about $36 billion U.S., making it slightly larger than Berkshire’s investment in Coca-Cola (KO).
The increased Alphabet stake was disclosed in a report filed with the U.S. Securities and Exchange Commission (SEC). Berkshire runs an equity portfolio worth $357.68 billion U.S.
Berkshire Hathaway was a net buyer of stocks in the second quarter, purchasing $23 billion U.S. of equities.
In addition to boosting its stake in Alphabet, the company lifted its stake in Delta Air Lines
(DAL) by 40% to 57 million shares worth $5 billion U.S.
Berkshire Hathaway also boosted its stake in homebuilder Lennar (LEN) by three million shares and more than doubled its stake in department store chain Macy’s (M) to seven million shares.
The company was a seller of part of its sizable stake in Bank of America (BAC), cutting it by 30 million shares to 483 million shares worth $31 billion U.S.
Berkshire Hathaway, which was founded by Buffett 60 years ago, also trimmed its stakes in several other stocks, including Kroger (KR), Capital One (COF), and Ally Financial (ALLY).
The more affordable Class B shares of Berkshire Hathaway have risen 5% over the past 12 months to trade at $504.03 U.S. per share.
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