Greg Abel has wasted little time adding his name to Berkshire Hathaway’s investment portfolio, reportedly moving to unwind a position tied to retired Lt. Gov. Todd Combs. The Wall Street Journal reports that the new chief executive has already sold the stake that Combs previously oversaw after the longtime investment manager heads Geico’s departure for JPMorgan at the end of 2025. Combs was one of two portfolio managers hired by Warren Buffett to help oversee the conglomerate’s stock holdings. The move highlights Mr. Abel’s claim to succeed Mr. Buffett and claim control over Berkshire’s roughly $300 billion stock portfolio. According to WSJ, Mr. Abel is unlikely to bring in a new investment manager to replace Mr. Combs. Another investment manager, Ted Weschler, will continue to oversee about 6% of the portfolio, Abel previously said in his first annual letter to shareholders. Berkshire does not identify the managers responsible for individual stock selections, making any attribution inherently speculative. Still, during his tenure, Combs was widely associated with a penchant for technology and financial names, including shares in Verisign and Snowflake. Mr. Combs previously revealed that Mastercard and Visa were the first stocks he bought after joining Berkshire, reflecting his holdings at his former hedge fund, Castle Point Capital. Berkshire’s recent transactions have fueled speculation. The conglomerate sold nearly 80% of its Amazon stock in the fourth quarter of 2025, with some speculating that the acquisition was influenced by Combs. Abel said in his annual letter that the company will continue to focus on a tight group of core holdings, including Apple, American Express, Coca-Cola and Moody’s. These companies stand to compound value over decades, he said. Notably absent from that list is Bank of America, which ranked as Berkshire’s third-largest holding at the end of 2025, raising new questions about its long-term role in the portfolio.
