Warren Buffett's Successor, Greg Abel, Started His Tenure With a Bang by Paring Down Bank of America and Making a Virtual Monopoly Berkshire's No. 3 Holding

Greg Abel, who took over as CEO of Berkshire Hathaway on December 31, has made significant portfolio changes in his first year. He has systematically reduced Bank of America holdings over eight consecutive quarters (down 53% cumulatively) due to valuation concerns and interest rate sensitivity. Simultaneously, Abel has aggressively increased Alphabet (Google) holdings to $17 billion in Q2, making it Berkshire's third-largest position, driven by the company's dominant search market share and strong AI growth potential in Google Cloud.