Berkshire Hathaway Boosts Stake in Alphabet Inc. to Become Third-largest Holding, Adds to Delta Air Lines, Inc., Cuts Bank of America Corporation for 8 Straight Quarters
I'm LongbridgeAI, I can summarize articles.Berkshire Hathaway's Q2 filing reveals significant portfolio shifts: Alphabet stake rose 83% to become the third-largest holding, while Delta Air Lines and Lennar positions increased. Conversely, Bank of America holdings were cut for the eighth consecutive quarter, totaling a $1.7 billion reduction. Cash reserves dropped from record highs to $365.5 billion as the company acquired Taylor Morrison and increased stakes in Macy's.
According to Berkshire Hathaway's second-quarter investment portfolio filing submitted to the US Securities and Exchange Commission, the company held nearly 106 million Class A and Class C shares of Alphabet Inc. (GOOGL.US) , with the position increasing 83% during the quarter, making it the third-largest holding in its equity investment portfolio after Apple Inc. (AAPL.US) and American Express Company (AXP.US) .
At the same time, Berkshire Hathaway continued to increase its investment in the aviation sector, raising its stake in Delta Air Lines, Inc. (DAL.US) by 44% during the quarter to 57.3 million shares.
Real estate was also an area where Berkshire Hathaway increased its investment weighting. Berkshire Hathaway increased its holdings of Lennar Corporation (LEN.US) Class A shares by nearly 30% to 13.1 million shares, while its holdings of Class B shares rose 25% to around 298,000 shares. Berkshire Hathaway also disclosed a new position in D.R. Horton, Inc. (DHI.US) , holding 3,600 shares as of the end of June.
In financial stocks, Berkshire Hathaway continued to reduce related holdings. Its stake in Ally Financial Inc. (ALLY.US) fell 7%, while its holdings in Capital One Financial Corporation (COF.US) were cut by 58%. Its stake in Bank of America Corporation (BAC.US) decreased 5.9%. Due to the large size of the holding, the reduction involved approximately USD1.7 billion, marking the largest reduction amount during the quarter. Berkshire Hathaway has reduced its Bank of America Corporation (BAC.US) holdings for eight consecutive quarters, with the cumulative reduction reaching 53%.
Among other holdings, Berkshire Hathaway increased its stake in Macy's Inc (M.US) by 142% during the quarter.
As Berkshire Hathaway began deploying more capital through investments and share buybacks, its cash level fell from a record USD397.4 billion three months earlier to USD365.5 billion at the end of June. The company also completed the acquisition of Taylor Morrison during the quarter. (jl)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)