Berkshire Sold Amazon, Bought These Stocks After Warren Buffett's Exit

Why It Matters

Abel’s early moves signal a shift toward value‑oriented, sector‑specific bets and a willingness to overhaul legacy positions, reshaping Berkshire’s influence on market dynamics. The changes also reflect broader investor sentiment on tech versus consumer and travel stocks in a post‑pandemic economy.

Key Takeaways

• Berkshire opened new positions in Macy’s and Delta Air Lines.
• Alphabet stake increased by over 36 million shares.
• Berkshire fully exited Amazon, selling more than 2.2 million shares.
• Bank of America and Chevron holdings trimmed, reducing exposure.
• Greg Abel leads first 13F post‑Buffett, signaling strategic shift.

Pulse Analysis

Greg Abel’s debut 13F filing marks a pivotal moment for Berkshire Hathaway, as the new CEO steps into Warren Buffett’s shoes and immediately reshapes the investment slate. By re‑entering Delta Air Lines and taking a fresh position in Macy’s, Abel signals a willingness to back companies facing short‑term headwinds but offering long‑term upside. The aggressive increase in Alphabet shares underscores a bet on AI‑driven growth, while the complete exit from Amazon reflects a disciplined approach to pricing and valuation concerns that have long haunted Buffett’s team. These moves illustrate a portfolio that balances traditional value plays with selective tech exposure.

The portfolio overhaul also reveals a strategic pruning of legacy holdings. Reducing stakes in Bank of America and Chevron trims exposure to sectors where growth prospects appear muted amid tightening monetary policy and energy market volatility. Maintaining a steady Apple position preserves a cash‑generating anchor, yet the decisive Amazon divestiture—over 2.2 million shares—highlights a shift away from high‑multiple e‑commerce assets. Meanwhile, the addition of The New York Times adds a media component that aligns with Berkshire’s historical preference for strong brand moats and predictable cash flows.

Across the broader market, Abel’s actions dovetail with other high‑profile investors recalibrating tech exposure. Bill Ackman’s recent purchase of Microsoft, despite a recent dip, mirrors a growing confidence in AI hyperscalers as the next growth frontier. Both Berkshire’s expanded Alphabet stake and Ackman’s Microsoft bet suggest a nuanced view: while Buffett historically shied away from pricey tech, the new leadership is more comfortable allocating capital to AI‑centric giants that demonstrate durable competitive advantages. For investors, these shifts provide a barometer of how legacy value firms are adapting to a landscape increasingly dominated by data, cloud, and artificial intelligence.