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By Claudia Assis

Berkshire discloses stake on Alphabet now worth about $5 billion

Warren Buffett’s Berkshire Hathaway finally went for Alphabet’s stock.

As it nears the end of the Warren Buffett era, Berkshire Hathaway Inc. broke new ground in the quarter that ended Sept. 30: It placed a fresh bet on tech giant Alphabet Inc., according to a securities filing released late Friday.

Buffett, who will be at the helm of Berkshire (BRK.B) (BRK.A) as CEO through the end of this year, had eschewed Alphabet shares (GOOGL) (GOOG) for years while placing plenty of other bets on tech giants such as Apple Inc. (AAPL) and Amazon.com Inc. (AMZN)

But no longer: Berkshire ended the third quarter with a new stake of nearly 18 million Alphabet shares, at the time worth about $4.3 billion. That same number of shares is worth close to $5 billion as of Friday.

The Google parent company’s stock is up nearly 50% for the year, but endured double-digit losses in February and March. Then, in September, an antitrust case around the company’s Chrome browser business came to a much better-than-expected resolution, and the stock gained 14% and 16% in September and October, respectively.

Securities regulators require all institutional investment managers holding more than $100 million in certain securities to disclose their positions in filings called 13-Fs – offering a window into a firm’s stock and ETF holdings at the end of the quarter, and into its possible strategies.

Other Berkshire moves were more in keeping with the ethos of the organization and offered fewer surprises. It increased its holdings of Domino’s Pizza Inc. (DPZ) by 13%, and its holdings of insurer Chubb Ltd. (CB) by nearly 16%. It also sold off its stake in home builder D.R. Horton Inc. (DHI)

Berkshire reported third-quarter earnings a week ago, showing a growing pile of cash and a continued aversion to stock buybacks.

-Claudia Assis

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  11-14-25 1715ET
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Since 2020, commercial real estate (CRE) insurance premiums in the U.S. have risen by 88%. At the same time, risk tolerance for insurers has decreased – driven by concerns about climate risks, inflation and market volatility. Against this backdrop, building features and maintenance practices once rewarded with premium discounts are now less likely to guarantee savings.

However, the enhanced operational resilience, risk mitigation and data collection capabilities delivered by technologies like OpenBlue may help organizations secure better access to coverage and slow the rate of premium increases. The award-winning software platform can enhance resilience and transparency, reduce risk exposure, make real estate portfolios more appealing to insurers, and unlock new business growth opportunities. Here’s how:

How can building data lower insurance premiums?

CRE insurance premiums reflect a mix of location, building type and market dynamics that include volatility, regulatory pressures and climate risks. The increasing complexity of the underwriting process is leading insurers to require detailed information about building performance, maintenance and risk exposure before issuing coverage.

OpenBlue technology streamlines this information-gathering process and gives insurers easier access to timely and relevant information that includes:

• Operational and maintenance records
• Incident reports
• Utilization and occupancy analytics
• Documents and data showing compliance with safety and sustainability standards
• Transparency into asset performance at the property and portfolio level

In addition to making the underwriting process easier, this transparency and smoother data collaboration builds trust between property owners and insurers.

How can building technology help mitigate risk?

OpenBlue solutions streamline the collection, sharing and analysis of data. They also empower you to improve the building performance and operational efficiency reflected in that data. Our systems combine Internet-of-Things sensors, advanced analytics and AI-powered insights to give facilities and real estate teams real-time visibility into building operations, energy use, occupancy patterns and vulnerabilities.

Key capabilities that support risk mitigation include:

Predictive equipment maintenance

OpenBlue Workplace uses AI, sensors and advanced analytics to identify recurring issues and equipment trends. Instead of following an arbitrary and inefficient preventive maintenance schedule, facility managers (FMs) can use this information to strategically plan preventive measures and upgrades. This can prolong the life of expensive assets and building systems and lower overall ownership costs.

When something goes wrong, time is of the essence. The integration of Johnson Controls Metasys into OpenBlue Workplace shortens response times by automatically triggering a work order ticket when the system detects a problem.

Real-time occupancy and utilization insights

OpenBlue Insights provides real-time occupancy and utilization information. This can help organizations plan more effectively for safety, compliance and emergency response. These insights also inform risk-related decisions such as evacuation planning, renovations and refits, or HVAC optimization during severe weather.

Environmental monitoring

OpenBlue Workplace gives FMs early warnings of issues that could put people and property at risk by using data gathered from sensors that track variables like temperature, humidity, particulates and water leaks. Environmental sensors, for example, can notify facilities teams of anomalies in indoor air quality that might impact the health of occupants or damage equipment and potentially increase costs and liability.

Access control and security

OpenBlue Companion’s access control and visitor management features can help bolster the safety and security of occupants and assets. They can also provide digital records that improve safety compliance and protect against liability. They can even improve efficiency by automating routine tasks and helping ensure continuity of operations in emergencies.

Together, these capabilities enhance resilience by turning building data into actionable insights. Investors gain confidence in asset performance, operators can demonstrate strong risk management practices, and insurers get accurate, detailed information to support underwriting. Best of all, a recent Johnson Controls study conducted by Forrester Consulting found that the payback period for OpenBlue can be as little as eight months, with an ROI of 155% over three years.

This article first appeared on GuruFocus.

Bill Ackman (Trades, Portfolio) recently submitted the 13F filing for the third quarter of 2025, providing insights into his investment moves during this period. William Ackman, co-investment manager for hedge-fund group Gotham Partners LP, formed Pershing Square in November 2003 with $54 million raised from three investors. Ackman got his start in the real estate business, where he worked for his father prior to starting Gotham. Bill Ackman (Trades, Portfolio) is an activist investor. He buys the common stocks of public companies, and pushes for changes so that the market can realize the values of the companies. Ackman buys stocks trading at a discount, and sells when the companies reach their appraised value.

Bill Ackman (Trades, Portfolio) also reduced position in 4 stocks. The most significant changes include:

• Reduced Alphabet Inc(NASDAQ:GOOGL) by 519,007 shares, resulting in a -9.68% decrease in shares and a -0.67% impact on the portfolio. The stock traded at an average price of $209.46 during the quarter and has returned 36.32% over the past 3 months and 46.49% year-to-date.

• Reduced Brookfield Corp(NYSE:BN) by 140,166 shares, resulting in a -0.34% reduction in shares and a -0.06% impact on the portfolio. The stock traded at an average price of $44.31 during the quarter and has returned 0.86% over the past 3 months and 15.55% year-to-date.

At the third quarter of 2025, Bill Ackman (Trades, Portfolio)’s portfolio included 11 stocks, the top holdings included 20.25% in Uber Technologies Inc(NYSE:UBER), 19.21% in Brookfield Corp(NYSE:BN), 10.58% in Howard Hughes Holdings Inc(NYSE:HHH), 10.52% in Alphabet Inc(NASDAQ:GOOG), 10.04% in Restaurant Brands International Inc(NYSE:QSR).

The holdings are mainly concentrated in 6 of all the 11 industries: Consumer Cyclical, Technology, Financial Services, Communication Services, Real Estate, Industrials.