Overview
- Warren Buffett retired at the end of 2025, and Greg Abel assumed the CEO role following a long-planned transition.
- Berkshire finished 2025 holding $373 billion in cash and Treasuries after 13 consecutive quarters of net stock selling.
- Major trims included Apple and Bank of America, with sales aligning with a 21% corporate tax rate and possible AMT considerations, according to reporting.
- The shares are down roughly 4.2% year to date and about 8% over 12 months as investors weigh the leadership change.
- Management changes extend beyond the CEO, with new leaders for insurance and non-insurance operations and a CFO change planned, while Abel emphasizes continuity of Berkshire’s culture and risk discipline.