"Buffett told shareholders at the May annual meeting he intends to retire as CEO at the end of the year, recommending Abel as the next chief, a timeline now at roughly 100 days as of Sept. 23. Remarks and post‑meeting summaries also highlighted a record cash war chest and a well-telegraphed transition plan that preserves Berkshire's culture while empowering Abel on capital allocation."
"Berkshire has already sold down a large portion of its Apple stake, with Fortune reporting the holding was more than halved by mid‑2024 and then cut again into Q3 2024 as cash swelled to record levels. By late 2024, Berkshire's Apple position was valued at roughly $69.9 billion after additional sales, down sharply from roughly $174.3 billion at the end of the prior year."
"Expect more active trading from Todd Combs and Ted Weschler, whose gradual position builds and trims have been more frequent than Buffett's traditional "enter-or-exit" style, a pattern likely to become more visible in future 13F filings. A renewed focus on healthcare is anticipated given relative sector valuations and the team's appetite for bargains beyond financials and consumer staples. The most closely watched change:"
Warren Buffett intends to retire as Berkshire Hathaway CEO at year-end, with Greg Abel recommended as successor and a roughly 100-day transition timeline as of Sept. 23. Berkshire holds a record cash war chest and a transition plan designed to preserve company culture while giving Abel authority over capital allocation. Todd Combs and Ted Weschler are expected to trade more actively, shifting the portfolio away from Buffett's enter-or-exit approach and increasing focus on healthcare opportunities alongside financials and consumer staples. Berkshire has materially reduced its Apple position, cutting it from about $174.3 billion to roughly $69.9 billion by late 2024, with sales tied to expectations of higher capital gains taxes.
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