Greg Abel Maintains Berkshire Hathaway's Focus on Core Holdings as He Reshapes the Investment Portfolio

Berkshire Hathaway entered a new era this year following the retirement of legendary investor Warren Buffett, who stepped down as chief executive on December 31, 2025. Leadership of the conglomerate has since passed to Greg Abel, who now oversees the company's operations as well as its investment portfolio, valued at approximately $355 billion.

Since assuming the role, Abel has already begun making meaningful adjustments to Berkshire's holdings. During the first quarter of the year, the company exited 16 investment positions and reduced exposure to six additional stocks, signaling a willingness to actively manage the portfolio while preserving Berkshire's long-term investment philosophy.

A Concentrated Investment Strategy Continues

Despite those portfolio changes, one hallmark of Berkshire Hathaway's investing approach remains firmly in place: concentration.

Like Buffett before him, Abel continues to allocate a significant share of Berkshire's capital to a relatively small group of high-conviction investments. As of August 5, approximately 63% of Berkshire Hathaway's investment portfolio—roughly $222.3 billion—was concentrated in just five companies:

• Apple: Approximately $70.9 billion, representing 20% of the portfolio.

• American Express: About $52.9 billion, or 14.9%.

• Coca-Cola: Roughly $34.7 billion, accounting for 9.8%.

• Bank of America: Approximately $32.5 billion, or 9.1%.

• Alphabet (Google): Around $31.3 billion, representing 8.8% of invested assets across both share classes.

Long-Term Investments Remain Central

Several of Berkshire's largest positions have been part of its portfolio for decades.

The company has continuously held Coca-Cola since 1988 and American Express since 1991, investments that have generated substantial long-term returns thanks to decades of appreciation and growing dividend income.

Because these holdings were acquired at much lower prices, they now produce exceptionally strong returns relative to Berkshire's original investment cost, giving management little incentive to reduce its exposure.

In previous shareholder communications, Buffett described certain investments as holdings Berkshire intended to own indefinitely, with Coca-Cola and American Express among the companies he specifically highlighted.

Technology Plays a Larger Role

One noticeable difference under Greg Abel is the growing importance of technology within Berkshire Hathaway's portfolio.

Although Buffett initiated Berkshire's investment in Apple in 2016 and later acknowledged playing a role in establishing the company's position in Alphabet, technology was never the primary focus of his investment strategy.

Buffett often viewed Apple less as a traditional technology company and more as a consumer products business, citing its loyal customer base, strong brand, exceptional management and consistent share repurchase program as key reasons for Berkshire's investment.

Under Abel's leadership, however, technology companies appear positioned to play an increasingly significant role in Berkshire Hathaway's long-term investment strategy, while the company's disciplined, concentrated approach to capital allocation remains largely unchanged.