Berkshire CEO Abel Divests Stocks Formerly Managed by Portfolio Manager Combs

Deep News04-18 10:11

According to informed sources, Greg Abel, the Chief Executive Officer of Berkshire Hathaway, has sold stocks that were previously managed by Todd Combs, one of Warren Buffett's former investment managers. This move occurred after Combs left Berkshire in December of last year to join JPMorgan Chase, and it represents one of the most definitive adjustments to the Berkshire investment portfolio since Abel assumed the role of CEO. Abel succeeded Buffett as CEO in January of this year, while Buffett continues to serve as Chairman. The sources indicated that Abel is unlikely to appoint another individual to assist in managing the investment portfolio. Berkshire does not disclose which common stock investments are managed by Combs or by Ted Weschler, another portfolio manager who remains with the company. It is widely believed that major investments, such as the stake in Apple, were typically decided by Buffett and are now overseen by Abel. Berkshire is expected to reveal further details regarding its stock holdings in its quarterly report on May 2nd and in regulatory filings in mid-May. As of after-hours trading, Abel's assistant had not yet responded to requests for comment.

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