Berkshire's Alphabet stake loses tens of billions in market value.

Although Berkshire benefited from capital fleeing the AI sector, one of its major holdings suffered a heavy blow. Google parent Alphabet shed about $500 billion in market value on Thursday, with its stock plunging nearly 13%, its worst single-day performance since its 2004 listing. Buffett built a position in Alphabet last year and added to it in the second quarter of this year through a $10 billion private placement. Berkshire's Alphabet stake was once worth $40 billion at the third-quarter high in early August. Since that peak, the position's value has shrunk by a quarter, falling to $29.6 billion on Friday, and it is currently Berkshire's fourth-largest stock holding. The Coca-Cola position steadily rose to become the third-largest holding: up nearly 16% from its late-July low of $32.5 billion, it is now worth $37.6 billion. By estimates, Berkshire's cost basis for buying Alphabet was most likely above $300 per share, possibly even close to $320 per share, and the investment is currently underwater.