Step Aside, Coca-Cola and Bank of America: There's a New Apple of Berkshire Hathaway's Eye, and It's a Virtual Monopoly
Warren Buffett's successor, Greg Abel, has anointed a new No. 3 holding in Berkshire's $359 billion investment portfolio.
Overview
This is a truly groundbreaking year for Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB). For the first time in well over half a century, the trillion-dollar Berkshire isn't being led by billionaire Warren Buffett. Following the Oracle of Omaha's retirement as CEO on Dec. 31, the torch was officially passed to his protégé, Greg Abel.
Abel hasn't wasted any time transforming Berkshire Hathaway's $359 billion investment portfolio. In addition to jettisoning 16 holdings in the first quarter, he's rearranged the puzzle pieces of his company's top-five positions. Longtime holdings Coca-Cola (NYSE: KO) and Bank of America (NYSE: BAC) have both been knocked down a peg, with the new apple of Abel's eye, Google parent Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG), officially becoming Berkshire's No. 3 position.
Warren Buffett retired as Berkshire Hathaway's CEO on Dec. 31. Image source: The Motley Fool.
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Originally published at www.fool.com.
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