Berkshire Discloses $4.3B Alphabet Investment

Warren Buffett's Berkshire Hathaway disclosed a new $4.3 billion investment in Alphabet Inc. on Friday, marking a significant shift for the investment conglomerate as its longtime leader prepares to step down as chief executive at the end of the year.

The filing, a required quarterly report known as a 13F, revealed that Berkshire acquired 17,846,142 shares of Alphabet's Class A stock by September 30. This position, valued at approximately $4.3 billion, elevates Alphabet to one of Berkshire's top 10 holdings. The move comes after more than a year during which Berkshire maintained a substantial cash reserve of about $340 billion, amid a broader pattern of net selling in equities over the past 12 quarters. Officials at Berkshire did not immediately comment on the rationale behind the purchase.

In addition to the Alphabet stake, the filing detailed other portfolio adjustments for the third quarter. Berkshire fully exited its position in homebuilder D.R. Horton Inc., which it had initiated earlier in the year. The company also increased its holdings in select stocks, including significant expansions in Lamar Advertising Co. and Domino's Pizza Inc., both of which were recent additions...