Alphabet becomes Berkshire Hathaway's third-largest investment
Cash pile declines as stock buying picks up
Berkshire bought $23.5 billion and sold $3.7 billion of stocks in the second quarter, ending a 14-quarter stretch when it sold more stocks than it bought.
Chief Executive Greg Abel has begun reducing the enormous cash pile that his predecessor Warren Buffett left him when the legendary investor stepped down at year end.
Berkshire's cash stake fell to $364.7 billion on June 30 from $380.2 billion on March 31, a decline also reflecting $4.5 billion of stock buybacks.
Buffett remains Berkshire's chairman. He told CNBC last month it was his idea to invest in Alphabet, a stake Berkshire began building in last year's third quarter. Buffett also said he and Abel consult on how Omaha, Nebraska-based Berkshire allocates capital.
