Berkshire Hathaway CEO Greg Abel (BRK.A / BRK.B) has overhauled the company’s investment portfolio, selling 16 stock positions, including Amazon (AMZN) and Visa (V).
Other positions eliminated by Abel, who took over as CEO of Berkshire in January of this year, include Mastercard (MA), UnitedHealth (UNH), Domino’s Pizza (DPZ), and Pool Corp. (POOL).
Abel, who is a Canadian businessman from Alberta, reportedly sold stocks that had been handled by portfolio manager Todd Combs, who moved to JPMorgan Chase (JPM) last year.
However, Berkshire Hathaway itself does not publicly disclose who is responsible for individual stocks in the company’s $330 billion U.S. portfolio.
Berkshire Hathaway’s largest position in Apple (AAPL) stock remained unchanged in this year’s first quarter.
However, Abel cut Berkshire’s position in oil major Chevron (CVX) by 35%, or about $8 billion U.S. The remaining stake is worth more than $17 billion U.S.
The holding company that was previously run by Warren Buffett for 60 years increased its position in Google parent Alphabet (GOOGL) by 224% in the first quarter.
In addition to Alphabet, Berkshire Hathaway tripled its stake in The New York Times Co. (NYT) to 15.1 million shares worth $1.1 billion U.S.
With a market value of $16.6 billion U.S., Alphabet is now Berkshire Hathaway’s seventh largest stock holding.
In terms of new positions added to the portfolio, Berkshire opened stakes in Delta Air Lines (DAL) and department store chain Macy’s (M).
There had been reports in recent months that Abel had been tinkering with Berkshire’s stock portfolio as he looks to put his own imprint on the holding company.
Berkshire’s more affordable Class B stock has declined 6% in the last 12 months to trade at $482.70 U.S. per share.
