Greg Abel, who took over as Berkshire Hathaway CEO on December 31, 2025, has significantly reallocated the company's $332 billion（約53兆円） investment portfolio, exiting Domino's Pizza while aggressively building a $29 billion（約4.6兆円）-plus stake in Alphabet. Alphabet controls roughly 90% of global internet search traffic and operates YouTube, giving it substantial market power, and is advancing in AI applications within Google Cloud. This repositioning reflects Abel's focus on companies with durable competitive advantages and strong AI growth prospects.
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Greg Abel, Warren Buffett's successor as Berkshire Hathaway CEO, has reshaped the company's $332 billion（約53兆円） portfolio in his first quarter. He exited 16 positions including Domino's Pizza, while more than tripling Berkshire's stake in Alphabet's Class A shares and opening a new position in Class C shares. On June 1, Alphabet announced an $80 billion（約13兆円） equity offering, with Berkshire purchasing $10 billion（約1.6兆円） ($5 billion（約8000億円） of each share class) at a reduced price. Berkshire's total Alphabet stake now exceeds $29 billion（約4.6兆円）, making it a top-five holding.
Why it matters
Alphabet, which accounts for approximately 90% of worldwide internet search traffic and operates YouTube (the second-most-visited website globally), operates as a virtual monopoly with significant ad pricing power. The company is also a pioneer in AI applications, with generative AI integration into Google Cloud reaccelerating sales growth in that high-margin segment. Abel's aggressive bet signals confidence in Alphabet's competitive position and AI prospects, even as he exits companies like Domino's that face headwinds—Domino's international same-store sales declined 0.4% in the first quarter, breaking a 32-year streak of growth.
What to watch
Domino's exit is notable because Buffett had acquired its shares for six consecutive quarters before Abel took over, building a 3.35-million-share position with no prior signal of a planned exit. Additionally, Domino's valuation may have played a role—while its current forward price-to-earnings ratio is 14, it traded closer to 25 times forward-year earnings throughout most of 2025.
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