Berkshire’s Abel Names Apple as Core Holding, Boosts Chevron Stake 7%
New Berkshire Hathaway CEO Greg Abel affirmed Apple as a permanent holding in his inaugural shareholder letter, solidifying it among the 'Core Four' alongside American Express, Coca-Cola and Moody’s. The letter revealed a 9% cut in Bank of America, 7% rise in Chevron and cash reserves above $370 billion.
1. Core Four Designation
Greg Abel affirmed Apple as one of Berkshire Hathaway’s four permanent holdings, alongside American Express, Coca-Cola and Moody’s, signaling continued confidence in Apple’s long-term growth prospects.
2. Portfolio Rebalancing
The inaugural letter disclosed a 9% reduction in the Bank of America position and a 7% increase in Chevron, highlighting Abel’s shift toward a more concentrated equity strategy.
3. Leadership and Cash Strategy
Under Abel’s leadership, his base salary increased to $25 million and cash reserves topped $370 billion, emphasizing a focus on financial strength and decentralized operational autonomy.