Berkshire loads up on Alphabet shares, making it No. 3 holding after Buffett's exit

Berkshire Hathaway, one of the most closely watched investors in the US stock market, made a major push into Alphabet, Google's parent company, in the second quarter of this year.

According to Reuters, Berkshire said in a quarterly holdings report filed with the Securities and Exchange Commission (SEC) on Friday that it increased its Alphabet share count by 83%, lifting the stock to its third-largest equity holding.

As of June 30, Berkshire held approximately 106 million Alphabet shares worth $37.8 billion. Three months earlier, it held 57.8 million shares.

Apple remained Berkshire's top holding at $66 billion, followed by American Express at $51.3 billion.

Berkshire also added to its positions in Delta Air Lines and Macy's during the quarter, holding stakes worth $5.4 billion and $173 million, respectively.

As previously reported, Berkshire ended 14 consecutive quarters of net stock selling in the second quarter, turning to net buying.

The company said it purchased $23.5 billion worth of shares and sold $3.7 billion worth during the quarter.

Berkshire has been led by Greg Abel since Warren Buffett, widely known as the "Oracle of Omaha," stepped down as CEO in January.

Buffett, who has since taken on the role of board chairman, said last month that he personally made the decision to invest in Alphabet. He has also recently warned that the US stock market is "becoming more of a gambling venue than an investment market."