Warren Buffett's Successor, Greg Abel, Started His Tenure With a Bang by Slashing Berkshire's Chevron Stake and Making a Virtual Monopoly the New No. 5 Holding
The Oracle of Omaha's understudy cut Berkshire Hathaway's Chevron stake by 35% in favor of a company with a foundational sustainable moat and serious artificial intelligence (AI) ambitions.
Overview
For the first time in more than half a century, the trillion-dollar conglomerate that Warren Buffett helped build, Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB), is in uncharted territory. The famed Oracle of Omaha retired as CEO on Dec. 31 (he remains chairman of the board), handing the keys to Berkshire's $355 billion investment portfolio to longtime protégé Greg Abel.
Abel wasted little time making his presence felt. During the first quarter, he sent 16 stocks to the chopping block and reduced six other positions, including integrated oil and gas titan Chevron (NYSE: CVX). But Berkshire's new boss also found the new apple of his eye in Google parent Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG).
Warren Buffett retired as Berkshire Hathaway's CEO on Dec. 31, 2025. Image source: The Motley Fool.
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Originally published at www.fool.com.