Warren Buffett Still Leading Berkshire's Stock Decisions, Not Greg Abel

Contrary to potential assumptions about succession, Warren Buffett appears to be the driving force behind Berkshire Hathaway's significant stock investments, rather than his designated successor, Greg Abel. While Buffett emphasizes collaboration with Abel, evidence suggests Buffett initiated key moves, such as the substantial investment in Alphabet. This indicates Buffett's continued active involvement in managing Berkshire's vast equity portfolio, even as he approaches his 96th birthday.

Reports from Barron's and Bloomberg highlight that Abel has not been directly involved in stock selection. His primary responsibilities lie in overseeing Berkshire's diverse operating businesses and pursuing new acquisitions. For instance, Abel recently greenlit a substantial $6.8 billion acquisition of Taylor Morrison Home, though this transaction concluded after the second quarter.

The article also notes a close competition for the third-largest holding in Berkshire's portfolio between Alphabet and Coca-Cola. Following a significant increase in its Alphabet stake during the second quarter, the tech giant briefly surpassed Coca-Cola. However, recent market performance has narrowed this gap considerably, with Coca-Cola experiencing a strong rally that has brought it almost neck-and-neck with Alphabet in terms of market value.

In a separate development, an appeals court has upheld a significant settlement concerning real estate commission practices. Berkshire Hathaway's subsidiary, HomeServices of America, was a defendant in an antitrust suit. While HomeServices agreed to a $250 million portion of a larger settlement aimed at reforming commission-splitting rules, some plaintiffs are challenging the deal, arguing it inadequately compensated them. They may seek a Supreme Court review, despite the appellate court's affirmation of the lower court's approval.

The article also includes historical insights from Warren Buffett on judging product utility, with a notable quote from a 1994 interview where he emphasized deferring to market consensus. Current Berkshire stock performance data, including Berkshire Hathaway Inc. (BRK.A and BRK.B) stock prices, market capitalization, cash reserves, and recent share repurchases, is provided. The top equity holdings as of June 30, 2026, are also listed, based on Berkshire's latest 13F filing.

Summary of Key Points:

• Warren Buffett remains the primary decision-maker for Berkshire Hathaway's stock investments.
• Greg Abel is focused on operational management and acquisitions, not stock picking.
• Berkshire's Alphabet investment was initiated by Buffett.
• Alphabet and Coca-Cola are in a close race for Berkshire's third-largest equity holding.
• An appeals court upheld a real estate commission settlement involving Berkshire's HomeServices of America subsidiary.
• Some plaintiffs in the real estate commission case are considering appealing to the Supreme Court.