Berkshire Hathaway Sells Entire Amazon Stake Under New Leadership

Greg Abel, CEO of Berkshire Hathaway, has sold 2.3 million Amazon shares in his first quarter as head of the company. The sale removes a stake that had been less than 1% of the portfolio most of the time.

The move comes after a stronger-than-expected quarter from Amazon, which saw revenue grow by 20% year-over-year and operating income increase by 63%. Berkshire initially bought Amazon stock in 2019, with Warren Buffett later admitting he had underestimated the company's growth potential.

Abel has now unwound the entire position, giving Berkshire shareholders a clean exit from a holding that never became a major part of the portfolio. The sale is part of a broader period of portfolio and operating changes under Abel's leadership, including the recent acquisition of Taylor Morrison for $6.8 billion.

Amazon's stock price has risen 43% since the middle of the first quarter, making Abel's decision to sell look like a full exit made before the latest run-up in value.