Warren Buffett’s Berkshire makes backdoor SpaceX play

Berkshire Hathaway’s latest 13F showed an 83% increase in its Alphabet stake to nearly 106 million shares worth about $38 billion, making Alphabet its third-largest holding. The article’s main market angle is that Berkshire now has indirect, or “look-through,” exposure to SpaceX because Alphabet owns about 4% of SpaceX, valued at roughly $94 billion. By Berkshire’s proportional stake in Alphabet, the indirect SpaceX exposure was estimated at about $815 million at quarter-end, later closer to $700 million. The piece emphasizes that this exposure is too small to matter for Berkshire’s portfolio, but it reinforces Alphabet’s significance as a balance-sheet owner of SpaceX. The article also notes that SpaceX’s fundamentals remain the real focus, citing $7.8 billion in Q2 sales, a $541 million net loss, and $15.8 billion in AI spending, which limit any direct “Buffett effect” on SpaceX shares.