Warren Buffett's Successor, Greg Abel, Is Transforming Berkshire Hathaway With This $43 Billion Investment (and I'm Not Talking About Alphabet)
Although Wall Street is focused on Berkshire's new boss piling into Google's parent, Alphabet, the real transformation under Abel began seven years ago.
Overview
After well over half a century at the helm, Warren Buffett retired as Berkshire Hathaway's (NYSE: BRKA)(NYSE: BRKB) CEO on Dec. 31. This effectively turned the keys to Berkshire's vast investment portfolio over to his protégé, Greg Abel, who has wasted little time overhauling this greater than $350 billion portfolio.
During the first quarter, Abel exited 16 positions and reduced six others while piling into Google's parent, Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG). Abel spent another $17 billion purchasing Alphabet's stock in the second quarter.
Details
But what if I told you that this wasn't the biggest transformation that Abel has overseen? A separate investment focus, totaling almost $43 billion, is completely transforming Berkshire Hathaway.
Source
Originally published at www.fool.com.