Abel Ditches Buffett-Initiated Positions in Berkshire's First Quarter

New Berkshire Hathaway CEO Greg Abel made waves in his first quarter as head of the conglomerate by selling off 15 positions that were initiated by his predecessor, Warren Buffett.

The sold positions include some of Berkshire's biggest winners, such as Visa and Mastercard, as well as Amazon, and also some recent bets that haven't paid off, like Pool Corp. and Diageo.

Abel's moves signal a shift away from dividend-paying stocks, with several high-yielding positions being sold, including Lamar Advertising and Pool, which currently yield 4% and 2.5%, respectively.

In contrast, Abel's biggest buy was Google parent Alphabet, which pays only a 0.2% dividend, and his second-biggest buy was Delta Air Lines, which yields only 1%.