Berkshire Hathaway Leadership Transition
Warren Buffett retired as CEO of Berkshire Hathaway on December 31, 2022, passing leadership to Greg Abel, who now oversees a $360 billion investment portfolio. Under Abel’s direction, the company has concentrated 63% of its portfolio, approximately $226 billion, in five major stocks, including Apple, American Express, and Alphabet.
As of August 28, 2023, technology investments make up more than 30% of Berkshire’s portfolio, with Abel significantly increasing the stake in Alphabet since his assumption of CEO. In the second quarter alone, Berkshire added $17 billion to its Alphabet investment, reflecting a strategic pivot towards tech-driven growth.
Berkshire Hathaway has also continued to reduce its stake in Bank of America, selling over 30 million shares in the second quarter of 2023, marking the eighth consecutive quarter of selling, which has led to a 53% reduction in its holdings over the last two years.
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