Abel's Big Move: Berkshire Ditches Chevron for Alphabet

Berkshire Hathaway's new CEO, Greg Abel, has made his presence felt in the company's investment portfolio. Since taking over from Warren Buffett on December 31, 2025, Abel has been busy reviewing and adjusting Berkshire's holdings.

In the first quarter of this year, Abel sent 16 stocks to the chopping block, including a significant reduction in Chevron shares. The 45 million+ shares sold off represent the largest single-quarter decrease since Buffett opened the position in 2020.

Chevron's shares have rallied significantly since then, from $152 to $207, delivering triple-digit percentage returns. However, Abel may have viewed this as an opportunity to lock in gains, given the historically short-lived nature of energy supply disruptions.

On the other hand, Abel has been busy increasing his stake in Alphabet, the parent company of Google. He bought 36 million+ shares of Alphabet's Class A shares and opened a new position in the Class C shares. The company is now Berkshire's No. 5 holding, valued at nearly $31 billion.

Alphabet's strong foundation, built on its search engine dominance and YouTube presence, provides exceptional ad pricing power. Its AI ambitions also have the potential to drive valuation and cash flow significantly higher.