Berkshire Hathaway Stays True to Buffett's Legacy Under Abel

Greg Abel's Berkshire Hathaway has taken over from Warren Buffett, but its investment philosophy remains intact. The conglomerate's top holdings still reflect Buffett's preference for compounding businesses with durable moats.

The three largest equity positions in Berkshire's portfolio - Apple, American Express, and Alphabet - together account for more than 50% of the company's holdings.

Apple represents approximately 22% of Berkshire's equity holdings, making it its single largest position. The tech giant has built a premium brand with a recognized ecosystem that generates high-gross-margin service revenue from cloud storage, app commissions, Apple Pay, and search revenue-sharing arrangements with Alphabet.

American Express accounts for over 17% of Berkshire's equity holdings. Like Apple, it serves a more affluent customer base through its closed-loop network, where it functions as both card issuer and processor. This setup allows American Express to capture revenue from both sides of each transaction and charge merchants higher processing fees.

Alphabet makes up nearly 13% of Berkshire's portfolio. Google remains Alphabet's largest revenue driver, with growth fueled by new AI tools. The company controls key distribution channels through its ownership of Chrome and Android, reinforcing its moat against competitors.