Abel Sells 15 Positions in First Quarter at Berkshire Hathaway
Greg Abel's first quarter as Berkshire Hathaway CEO has been marked by significant changes to the company's portfolio. In his first three months in charge, he sold 15 positions initiated by Warren Buffett, including some 15-year holdings.
The sold positions included big winners such as Visa and Mastercard, as well as Amazon, which is a stakeholder in artificial intelligence hyperscaling. Other positions sold were Pool Corp., Diageo, and Domino's Pizza, which have not performed well for the company recently.
Abel also opened new positions in some stocks that weren't previously on Berkshire's radar, with his biggest buy being Google parent Alphabet. This purchase was notable because it comes from a company paying only a 0.2% dividend. Delta Air Lines was his second-biggest buy, which yields only 1%. Berkshire's cash position also increased during this quarter.