Abel Overhauls Berkshire's Portfolio with Eye on Alphabet

Berkshire Hathaway's new CEO Greg Abel made his mark on the company by revamping its $355 billion investment portfolio. In the first quarter, he sold 16 positions and reduced six others, including Chevron.

The largest single-quarter reduction in shares of Chevron was 35%, with Abel selling off 45,780,506 shares. This move may have been motivated by profit-taking, as Chevron's shares had a significant price increase between the start of 2026 and the end of the first quarter.

However, Chevron is no longer considered an inexpensive stock, with its forward P/E ratio approaching 18 at the end of the first quarter. Abel prioritizes value, so it's possible he saw this as a good time to lock in gains.

In contrast, Abel increased Berkshire's stake in Alphabet by buying 36,403,656 shares of Class A shares and opening a new position with 3,585,215 shares of Class C shares. He also participated in Alphabet's $84.75 billion equity offering, purchasing $10 billion worth of the company.