New CEO Greg Abel to Directly Manage 94% of Berkshire's $308B Portfolio
In a departure from investor expectations, new Berkshire Hathaway CEO Greg Abel will assume direct responsibility for managing the company's $308 billion stock portfolio. Following Warren Buffett's retirement and the departure of investment manager Todd Combs, many assumed Ted Weschler would take the lead. However, Abel's first shareholder letter clarified the new structure, stating Weschler will manage about 6% of the investments while the ultimate responsibility for the remaining 94% resides with the CEO.
This development places a manager with an operational background, not a stock-picking one, at the helm of one of the world's largest equity portfolios. Abel's career progressed through the energy and utility sectors, most notably as CEO of MidAmerican Energy, before he was tapped to oversee all of Berkshire's operating businesses. The transition introduces uncertainty about the future investment philosophy governing these massive holdings.
At Berkshire, equity investments are fundamental to our capital allocation activities; responsibility ultimately resides with me as CEO.
— Greg Abel, CEO
Abel Signals Confidence With $225M Share Buyback
Greg Abel's first major capital allocation move was to restart Berkshire Hathaway's share repurchase program, executing a $225 million buyback on March 4. The action reverses a trend under Buffett, who had halted buybacks for the final six quarters of his tenure, a move that signaled he no longer considered Berkshire's stock a bargain. Abel's decision, made with Buffett's endorsement, sends a strong bullish signal to the market that leadership views the company's shares as undervalued.
This corporate maneuver is reinforced by a personal one. Abel spent his entire after-tax salary of approximately $15 million to purchase Berkshire stock on March 4 and pledged to do so annually. This move aligns his financial interests directly with shareholders at a time when Berkshire's stock trades about 9% below its all-time high, with some of the
Edgen Stock·Mar 22 2026, 09:36
