Greg Abel’s inaugural action as Berkshire Hathaway’s CEO appears to be a potential divestiture rather than a purchase. A recent SEC prospectus supplement filed by Kraft Heinz outlines the possible sale of up to 325,442,152 shares—representing the entirety of Berkshire’s 27.5% stake in the 1.18 billion–share company. Berkshire’s $7.7 billion position in Kraft Heinz accounted for 2.5% of its roughly $309 billion investment portfolio as of September 30, 2025. While a filing does not guarantee that sales will occur immediately, such registration statements typically presage significant liquidity events.

Berkshire Hathaway ended the third quarter of 2025 with $381.7 billion in cash, cash equivalents and U.S. Treasuries—the largest cash pile in its history. Cash from operating activities jumped 34% over the first nine months of last year, underscoring the conglomerate’s robust free-cash-flow generation. For decades, Warren Buffett eschewed dividends in favor of reinvestment and opportunistic share buybacks. Under Abel’s stewardship, however, Berkshire’s record cash cushion and growing cash flow have intensified investor speculation that the company may initiate a dividend for the first time in its history.

Even before Berkshire’s leadership transition, Buffett had been trimming positions in its two largest holdings: selling 677.3 million Apple shares between September 2023 and September 2025 (a 74% reduction) and 464.8 million Bank of America shares from July 2024 to September 2025 (a 45% reduction). Valuation concerns drove these moves—Apple’s trailing-12-month P/E ratio exceeded 33 as of late January, while Bank of America traded at a roughly 50% premium to book value. Given Abel’s value-oriented approach and willingness to pare stakes that no longer meet his margin-of-safety criteria, further reductions in these positions remain on the table.