'The reason might be even more straight-forward. Buffett doesn't have confidence about the durability of Google's earnings''

I agree, Manlobbi. WEB seems to really value near certainty over 10+ years, and he sets such high filters, processes, patience and discipline prior to building a large position.

Interesting, I'm totally fine with WEB not building a position in Alphabet even though I have, like many here, been adding to a personal position for years. It was WEB himself that actually facilitated me to add to a few positions when he commented years ago about the 'Big 5' back then having incredible business models and necessitating relatively small recurring reinvestment unlike the old steel, railroads, oil and other industrial businesses.

META's market price, for instance, was freefalling over 75% a year ago and I for one was glad he had never built a position, for many reasons. His high hurdle and enormous position of Apple has made me more reluctant to trim the position (despite relatively rich valuation) given his vision of its ultimate birds in the bush, and WEB has much more clarity than I do. Really appreciate his incredible discipline, risk aversion and nearly always staying well within his circle of competence. Will be interesting to see how future management compares wrt these qualities.