Overview
- Berkshire enlarged an existing Alphabet position with a reported roughly $10 billion top‑up, positioning the stock as its primary public bet on AI and cloud capabilities.
- Public 13F filings disclosed in mid‑May show the firm was a net seller in the quarter with about $24 billion of U.S. stock sales and $16 billion of buys, reducing its disclosed U.S. holdings from roughly 39 to 26.
- The company also disclosed a new roughly 6% stake in Delta Air Lines and large increases in holdings of Japanese trading houses in separate foreign filings.
- Berkshire is carrying near‑record cash on its balance sheet and its continued net selling has prompted questions about when and how that cash will be redeployed into long‑term investments.
- Analysts say Alphabet offers durable cash flows, proprietary AI infrastructure and consumer franchises that make it a lower‑risk way to access AI, but they note its elevated valuation and that the durability of AI revenue gains is still uncertain.