Warren Buffett and Greg Abel's Alphabet Stake Now Tops $24.2 Billion: 3 Reasons Berkshire Will Keep Buying
It's not a typical Berkshire business, but it checks the right boxes.
Overview
At the end of last year, Warren Buffett stepped down as CEO of Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) after leading the charge for 60 years. Current CEO Greg Abel had been at Berkshire for many years before taking over as CEO, but investors have likely wondered how his investment style would differ from Buffett's.
Their strategies differ, but one thing that remains consistent is Berkshire's recent interest in Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). Berkshire began investing in Alphabet last year when Buffett was still CEO and has continued to increase its stake ever since.
Details
Alphabet is now Berkshire's fifth-largest holding, with its stake of over $224 billion (as of Aug. 10), accounting for 8.6% of its stock portfolio. With the way Alphabet's business is headed, Berkshire's buying is likely to continue.
Source
Originally published at www.fool.com.