Warren Buffett Boosts Berkshire's Stake in Alphabet Amid Tech Rebound

Warren Buffett's Berkshire Hathaway has quietly increased its stake in Alphabet, the parent company of Google, with a $4.3 billion investment in 17.8 million shares of Alphabet's Class A stock. This new position is worth $5.6 billion and accounts for 1.8% of Berkshire's portfolio, but only gives it a 0.3% equity stake in Alphabet. Buffett's investment in Alphabet is surprising given his past avoidance of tech stocks and Berkshire's recent focus on cash and short-term Treasury holdings. However, Alphabet has shown signs of improvement, including a U.S. district court ruling that allowed it to keep its Chrome browser and exclusive search deals with device makers.