Greg Abel Invests in Tech Stocks Following Warren Buffett's Retirement
Following Warren Buffett’s retirement as CEO of Berkshire Hathaway on December 31, Greg Abel has taken over management and begun reshaping the company's $363 billion portfolio. In his first quarter at the helm, Abel divested from 16 stocks and reduced positions in six others while increasing investments in tech companies like Alphabet (GOOGL) and Bending Spoons (BSP). This marks a shift toward technology-driven assets under Abel’s leadership. Abel has significantly increased Berkshire's stake in Alphabet, which is now becoming as central to the portfolio as Apple was during Buffett's tenure. Additionally, on October 14, Berkshire announced an additional $330 million investment in Bending Spoons via private placement at $33 per share, bringing its total ownership to a 4% stake following a prior $600 million IPO investment. Bending Spoons operates as a tech acquisition platform similar to Berkshire’s model but with a focus on AI and efficiency improvements. The company has acquired brands like AOL, Vimeo, Brightcove, Eventbrite, and WeTransfer.
Topics: Alphabet (GOOGL) Apple Inc. Berkshire Hathaway Greg Abel Warren Buffett