Investment firm Berkshire Hathaway bought a large amount of Alphabet, Google's parent company, in the second quarter this year, making it the No. 3 holding in its investment portfolio.
According to Reuters, Berkshire said in its second-quarter holdings report filed with the U.S. Securities and Exchange Commission (SEC) on Aug. 14 that it increased the number of Alphabet shares it owns by 83%.
As a result, Alphabet's portfolio weight rose to third place. Berkshire's largest holding remains Apple at $66 billion, followed by American Express at $51.3 billion.
As of June 30, Berkshire held about 106 million shares of Alphabet worth $37.8 billion (about 53.6193 trillion won), up from 57.8 million shares three months earlier.
Previously, when Alphabet moved to issue $80 billion in stock to build out large-scale AI infrastructure, Berkshire bought $10 billion of that on June 1.
Berkshire Hathaway disclosed that it first bought Alphabet shares in the third quarter last year and has steadily increased the position since. In particular, early this year it also contributed funds to a $10 billion private capital increase that Alphabet conducted to expand its artificial intelligence (AI) infrastructure.
Warren Buffett, who is currently stepped down from the CEO post, also said in a media interview on July 18 that he personally directed the investment in Alphabet, Google's parent.
Since Buffett stepped down from the CEO role in January, Berkshire has been led by Greg Abel.