Warren Buffett's Successor, Greg Abel, Just Spent $23.5 Billion on Stocks, the First Time in More Than 3 Years Berkshire Hathaway Was a Net Buyer
Abel is making his mark on the company, but he's not veering too far away from Buffett.
Overview
Greg Abel already demonstrated that he's making his mark on holding company Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) in the 2026 first quarter, his first as chief executive officer. Warren Buffett's protege and handpicked successor trimmed the company's equity portfolio from 45 to 29 positions, following through on his commitment to invest in a smaller group of high-conviction stocks. Otherwise, his new positions in Macy's and Delta Air Lines were much in line with the company's typical criteria for investments, and the continued investments in Alphabet were still Buffett's play.
However, in the second quarter, he's already shown the decisiveness that Buffett has praised in the past. Whereas Berkshire Hathaway beefed up its cash stockpile to reach a high of nearly $400 billion by the end of the first quarter, and it was the company's 14th consecutive quarter of being a net seller of stocks, Abel made a break in the second quarter. Berkshire bought $23.5 billion worth of equities in the quarter and sold only $3.7 billion, making it a net buyer of $19.8 billion.
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Should retail investors follow?
Source
Originally published at www.fool.com.