Berkshire Hathaway (value/ballast counterpoint)
Greg Abel (CEO, succeeding Warren Buffett); investment decisions increasingly Abel-led as of 2026.
Included as the deliberate value/ballast counterpoint — Berkshire is NOT AI-thesis-led. Its relevance to this page is exactly the opposite stance: a ~$400B cash hoard held as dry powder against AI-era valuations, with the AI exposure being indirect (Apple, still ~22% of the book) plus a notable new Alphabet position that is its first real lean toward the AI infrastructure trade. It is the page's reminder that the smartest capital allocator is sitting largely on the sidelines.
Top holdings
Top holding but cut ~74% over two years; AI exposure is incidental (on-device AI, not a frontier bet).
+225% in Q1 2026 — New scaled position — ~$10B private placement (Abel) plus ~$10-11B open-market buying. Berkshire's clearest tilt toward
~$400B — Record cash pile — the ballast. Dry powder, implicitly a statement that AI-era equity valuations are unattractive.
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Our take
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