Key Takeaways:
Greg Abel, Berkshire Hathaway's new CEO, exited 16 portfolio positions in the first quarter, including Domino's Pizza, and more than tripled the stake in Alphabet.
The moves, disclosed in Berkshire's quarterly 13-F filing, mark the first major portfolio restructuring since Abel succeeded Warren Buffett as chief executive on Jan. 1. Buffett had built a 3.35 million-share Domino's position over six consecutive quarters before his retirement.
Domino's posted an international same-store sales decline of 0.4% in the first quarter, its first drop in 32 years. The stock traded at roughly 14 times forward earnings, down from about 25 times through most of 2025, according to the filing.
Abel more than tripled Berkshire's stake in Alphabet's Class A shares and opened a new position in its Class C shares. The conglomerate committed $10 billion to Alphabet's $80 billion equity offering announced June 1, with $5 billion allocated to each share class. Berkshire's total Alphabet stake now exceeds $29 billion, making it a top-five holding.
Google commands about 90% of global internet search traffic, per GlobalStats, giving Alphabet durable pricing power in digital advertising. The company has also reaccelerated sales growth in its Google Cloud segment through generative AI integration.
The portfolio overhaul signals a shift in strategy under Abel, who inherited a $332 billion portfolio and roughly $400 billion in short-term Treasury bills. Investors will watch the second-quarter 13-F filing for further position changes as the new CEO continues to reshape Berkshire's holdings.
This article is for informational purposes only and does not constitute investment advice.
