Abel's Portfolio Overhaul: Selling Winners and Building Cash at Berkshire Hathaway

New Berkshire Hathaway CEO Greg Abel has made significant changes to the company's portfolio in his first quarter as leader. In total, he sold 15 positions initiated by his predecessor Warren Buffett.

This includes stocks that have been long-term holdings for Berkshire, such as Visa and Mastercard, as well as its stake in Amazon. However, Abel also exited positions that had not performed well under Buffett's leadership, including Pool Corp. and Diageo.

What is notable about Abel's moves so far is his lack of concern for dividend income. He has continued to increase Berkshire's cash position, which now stands at $397.4 billion after starting the quarter at $373.3 billion.