Stocks
Abel's Big Bet: Berkshire Hathaway Shifts $17 Billion to Alphabet
Greg Abel has officially taken over as CEO of Berkshire Hathaway following Warren Buffett's retirement on December 31.
In a significant move, Abel authorized $17 billion in Alphabet stock purchases during the second quarter, making Google's parent company Berkshire's No. 3 holding.
Berkshire has been paring down its Bank of America stake for eight consecutive quarters while maintaining its long-term Coca-Cola position.
Abel's overhaul of the massive $359 billion portfolio included slashing 16 holdings during the first quarter to pivot towards Alphabet.