Greg Abel's First Year at Berkshire: Trims Bank of America, Boosts Alphabet

Management
โดย The Motley Fool·US·Read original
Summary · why it matters

Greg Abel, Warren Buffett's successor as CEO of Berkshire Hathaway, has made significant changes to the company's $357 billion portfolio in his first year, including an eighth consecutive quarter of selling Bank of America shares and a major increase in its stake in Alphabet, which has become Berkshire's third-largest holding. In the second quarter, Berkshire sold 30,230,150 Bank of America shares, reducing its stake by a cumulative 53% over eight quarters, likely due to profit-taking as the stock now trades at a 62% premium to book value, compared to a 62% discount when Buffett first invested in 2011. Meanwhile, Abel more than tripled Berkshire's Alphabet stake in the first quarter and added another $17 billion in the second quarter, including $10 billion via private placement, surpassing Coca-Cola and Bank of America to become the third-largest holding. Alphabet's appeal lies in its dominant search market share of 89% to 93% and its AI-driven cloud growth, which saw 82% year-over-year sales growth in the June-ended quarter, potentially positioning it to eventually unseat Apple as Berkshire's top holding.

Impact on stocks 8

Artificial Intelligence▲ · 4 stocks
Alphabet Inc Class C
GOOG
▲ PositiveDemandrelevance

Berkshire increased Alphabet stake due to dominant search and AI-driven cloud growth with 82% sales growth.

Consumer Staples▲ · 2 stocks
Financials▼ · 1 stocks
Bank of America Corp
BAC
▼ NegativeCapitalrelevance

Berkshire sold Bank of America shares for an eighth consecutive quarter, reducing stake by 53%.

Energy Transition & Power Demand▲ · 1 stocks
Berkshire Hathaway Inc
BRK-B
± MixedCapitalrelevance

Article discusses Berkshire's portfolio changes under new CEO, but no direct impact on Berkshire's own stock.

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