Berkshire Hathaway more than tripled its stake in Alphabet during the first quarter.
The firm’s holdings in the Google parent company reached nearly $17 billion by the end of March. This investment marks a significant strategy shift under new CEO Greg Abel. The move diverges from founder Warren Buffett’s historical reluctance to invest heavily in the technology sector.
Alphabet recently reported quarterly earnings that exceeded analyst expectations. Billionaire Bill Ackman clarified that his firm sold Alphabet shares solely to finance a new Microsoft position. Ackman maintains a long-term bullish outlook on the search giant.