Greg Abel Is Reshaping Berkshire's Portfolio. Here's Who's In and Who's Out.

Greg Abel is rebuilding Berkshire Hathaway's $350 billion equities portfolio, and Alphabet is the biggest beneficiary: it now makes up 10.6% of holdings after a significant position increase. Nine months into his tenure as CEO, Abel is sorting the book into clear tiers.

Core holdings: Abel has designated AAPL, AXP, KO, and MCO as core positions, with limited activity expected. Interpretation: these names look like long-term anchors rather than trading candidates for Berkshire flow.

Additions: Beyond GOOGL and GOOG exposure, Abel initiated new stakes in DAL and increased housing exposure through LEN. The DAL entry is a fresh position, not an add-on, which makes it the clearest new directional bet in the report.

Uncommitted or trimmed: Energy holdings CVX and OXY remain uncommitted. BAC was slightly trimmed. Interpretation: the lack of commitment in energy and the BAC trim suggest Abel is not leaning into those positions as he is with Alphabet.

Buybacks: Abel has also resumed share repurchases after years of pause, repurchasing BRK.A and BRK.B shares.