Buffett Sees Alphabet as a Long-Term Winner, But Not Berkshire's Top Pick

Buffett said Alphabet has a better long-term track record than about 90–95% of what Wall Street promotes, but he wouldn’t rank it among Berkshire’s top holdings. He said he initiated the Alphabet investment and that he and CEO Greg Abel are aligned, noting Alphabet’s heavy AI spending and comparing it with durable, high-return businesses like Coca-Cola and American Express. Buffett’s philosophy remains to seek high returns on capital over decades rather than chasing quarterly forecasts.