Berkshire Hathaway increased its stake in Google parent company Alphabet by 83% in the second quarter, with the value of its holdings reaching approximately $38 billion as of June 30, making it Berkshire's third-largest U.S. equity holding. Although Greg Abel took over as CEO late last year, Berkshire Chairman Warren Buffett stated in a CNBC interview in July that the decision to increase the Alphabet stake was initiated by him. In the second quarter, Berkshire bought $23.5 billion worth of stocks and sold only $3.7 billion, ending a 14-quarter streak of net selling and beginning to deploy its massive cash reserves.