Business & Economy · 47 views
Berkshire pads Delta, Alphabet stakes as Abel taps cash pile
The conglomerate continued to pare its stake in Bank of America Corp. and now owns 6.8% of the US lender’s shares.
AI Summary
Berkshire Hathaway increased its Delta Air Lines stake by buying 17.5 million shares, raising the value of the holding to $5.37 billion at the end of June. The purchase was filed in a Friday report. Alphabet became Berkshire’s third‑largest investment, worth $37.8 billion midyear after the company added 48.1 million shares. These moves came in Greg Abel’s second full quarter as chief executive, following his succession of Warren Buffett. The acquisitions reflect Abel’s strategy of tapping Berkshire’s large cash reserves for new investments.
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