Berkshire Hathaway is increasing the size of its stake in Google’s parent company and beefing up its holdings in homebuilders, according to the conglomerate’s latest snapshot of its investment portfolio. The Omaha, Nebraska-based company also continued to pare its stake in financial companies and a number of other stocks in the April-June quarter, according to a regulatory filing filed late Friday.CEO Greg Abel, who took over from Warren Buffett at the start of the year, agreed in June to make a $10 billion stock investment in Alphabet, expanding on the stake that Berkshire started to build last fall. In the second quarter, Berkshire picked up roughly 48.1 million shares in Alphabet, bringing its total shares in the tech giant to roughly 106 million. That stake was valued at about $37.76 billion as of June 30, according to the filing. As recently as the end of December, Berkshire held only 17.8 million Alphabet shares worth $5.6 billion.
Alphabet has said it plans to raise $80 billion to pay for the computing infrastructure needed to power its AI offerings.Beyond tech, Berkshire continued to boost its investments in the U.S. homebuilding sector. Its stake in homebuilder Lennar increased nearly 30% in the second quarter. Berkshire also established a small new stake in D.R. Horton that was worth $580,504 at the end of June.In July, Berkshire completed a $6.8 billion acquisition of homebuilder Taylor Morrison.
