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Greg Abel has assumed the role of CEO at Berkshire Hathaway as of January 2023, succeeding Warren Buffett. In his first quarter, Abel significantly increased Berkshire’s investment in Alphabet Inc. (NASDAQ: GOOG, GOOGL) by over threefold, making it the fifth-largest position in the conglomerate’s $332 billion portfolio, now representing approximately 6.7% of the total. This investment contrasts with moves by other prominent hedge fund managers, such as Bill Ackman and Stanley Druckenmiller, who have sold their stakes in Alphabet.
Abel’s strategy appears to embrace artificial intelligence, as Alphabet is seen as a leader in this sector, generating 85% to 90% market share in internet search. Alphabet’s projected free cash flow for this year is approximately $26 billion, a decrease from last year’s $73 billion, attributed to substantial capital expenditures ranging from $180 billion to $190 billion. Despite facing scrutiny from the U.S. Department of Justice regarding monopolistic practices, Alphabet has maintained its dominance with strong business segments like YouTube and Google Cloud.
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