Greg Abel Sells Amazon Shares to Boost Investment in Surging AI Stock from the Magnificent Seven

Key Points

• Greg Abel took over as CEO of Berkshire Hathaway from Warren Buffett at the beginning of 2023.

• In the first quarter of 2023, Abel sold Berkshire Hathaway’s entire position in Amazon and increased his investment in Alphabet significantly.

• Abel’s changes include acquiring 54 million shares of Alphabet, representing 5.9% of the portfolio.

Greg Abel, newly appointed CEO of Berkshire Hathaway, made key investment moves in Q1 2023, notably selling all Amazon shares and tripling the company’s position in Alphabet (NASDAQ: GOOGL). The closure of the Amazon position previously represented nearly 0.2% of the portfolio, while the expanded stake in Alphabet now accounts for 5.9% of Berkshire Hathaway’s holdings.

Buffett’s legacy of a 19% annual gain over six decades has led to speculation on whether Abel will maintain this strategy. Abel’s investment decisions are under scrutiny as they align with Buffett’s preference for quality and value stocks, especially in light of Alphabet’s competitive advantage in the market and its recent valuation compared to Amazon.