CEO Abel Omits Bank of America, Chevron; 7% Stake Boost and $370B Cash
In his inaugural letter, CEO Greg Abel named Apple, American Express, Coca-Cola and Moody’s as “core four” while omitting Bank of America and Chevron despite a 9% stake cut and a 7% boost last quarter. He flagged Kraft Heinz returns as “disappointing” and highlighted cash holdings above $370 billion.
1. Core Four Designation and Omissions
In his first shareholder letter, Greg Abel identified Apple, American Express, Coca-Cola and Moody’s as Berkshire’s “core four” long-term holdings, conspicuously excluding Bank of America and Chevron from this cornerstone list despite their top-five position by market value.
2. Q4 2025 Stake Changes
The firm reduced its Bank of America stake by 9% and increased its Chevron position by 7% during the final quarter of 2025, signaling a potential reallocation of equity exposure under Abel’s leadership.
3. Strategic Focus and Cash Reserves
Abel labeled Kraft Heinz returns as “disappointing,” endorsed a stewardship-driven, concentrated investment approach and maintained cash reserves above $370 billion to support future opportunities.