Berkshire Hathaway revealed a $4.3 billion stake in Alphabet and reduced its Apple stake before Warren Buffett steps down. It owned 17.85 million Alphabet shares and cut its Apple stake to 238.2 million shares, with Apple remaining its largest holding at $60.7 billion. Berkshire’s U.S.-listed stock holdings totaled $283.2 billion.

Buffett’s investment in Alphabet is surprising given his usual value-investing style. He sees Apple more as a consumer products company. Buffett, Combs, and Weschler may make specific purchases. Buffett regretted not investing in Google sooner, acknowledging similarities in advertising models.

Alphabet’s shares rose 1.7% after the news. Berkshire sold more Bank of America shares, becoming a net seller of stocks for the twelfth straight quarter. Cash grew to a record $381.7 billion, with Apple potentially accounting for most sales. Berkshire also sold a portion of its Bank of America shares and increased investments in other companies.

As Buffett prepares to hand over Berkshire to Abel, cash reserves have swollen to $1.1 trillion. Berkshire has been cautious with valuations, refraining from major acquisitions or stock buybacks for over a year. The conglomerate owns nearly 200 businesses, including BNSF railroad, energy, industrial, and retail brands like Dairy Queen and Fruit of the Loom.

Read more at Yahoo Finance: Berkshire reveals new $4.3 billion Alphabet stake, sells more Apple