Greg Abel Reduces Chevron Stake as Berkshire Shifts Focus to Alphabet
Berkshire Hathaway’s new CEO Greg Abel made significant changes in the first quarter of his tenure by reducing its stake in Chevron by 35%, marking a major shift from Warren Buffett's long-held position. The move coincided with strong gains for Chevron, which saw share prices rise sharply due to energy market volatility linked to geopolitical tensions and supply disruptions. In contrast, Abel significantly increased Berkshire’s investment in Alphabet (Google), purchasing millions of shares across both classes and participating in a $10 billion private placement deal. This brought Alphabet's position value close to $30.8 billion, making it the fifth-largest holding at Berkshire for the first time. The decision reflects confidence in Alphabet’s dominant market presence through Google Search and YouTube, as well as its growing AI capabilities. The shift highlights Abel’s early strategy of capitalizing on gains from cyclical energy stocks while pivoting toward high-growth technology investments with long-term value potential.