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Berkshire Hathaway's new CEO Greg Abel boosts tech and retail stocks amid Buffett's quiet exit.

Market News
18 May 2026
24/7 Wall Street
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Bullish
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Warren Buffett stepped down as CEO of Berkshire Hathaway on December 31, 2025, passing leadership to Greg Abel, who took over on January 1, 2026. Abel inherited a concentrated $331 billion equity portfolio heavily weighted in six stocks but has started adding growth-oriented names like Alphabet, Delta Air Lines, and Macy’s. Despite Berkshire underperforming the S&P 500 in 2026, Abel aims to revitalize the portfolio by increasing exposure to tech and retail sectors, while Buffett remains as board chair but will step back from decision-making. The firm also repurchased $234 million of its shares, signaling confidence in its future under new leadership.

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