Greg Abel Just Spent $23.5 Billion on 9 Stocks for Berkshire Hathaway. Here's the Best of the Bunch.
Berkshire was a net purchaser of stocks for the first time since 2022.
Overview
Warren Buffett officially handed over the reins of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) to Greg Abel at the start of the year. He still acts as chairman, however, and he holds tremendous influence on Abel's capital allocation decisions. "I am not doing anything that he doesn't approve of. He's not doing anything I don't approve of, Buffett said in an interview last month. "We talk all the time, but he is the decider."
As CEO, Abel oversees Berkshire's massive portfolio and its dozens of operating companies. He's earned a reputation as a tremendous operator, but doesn't have the track record for investments and capital allocation. But there are few better sounding boards and advisors than Buffett from which to learn.
Details
Abel put roughly $23.5 billion of Berkshire's massive cash pile into nine publicly traded companies last quarter. Here's what he bought, and which one stands out as the best of the bunch.
Source
Originally published at www.fool.com.