Berkshire Hathaway successor Greg Abel stated in a 2023 interview that the company's investment managers operate their own stock portfolios independently. He only observes and learns, occasionally asking, "What triggered your interest?" but does not interfere, emphasizing, "That is their portfolio, and it always will be."

Abel mentioned that he is not very aware of who is buying or selling what in the two managers' portfolios, as his main purpose of observation is to learn about their stock selection triggers, not to approve or change anything. The two managers do not overlap or report trading details to him, and he clearly defines the boundaries of their portfolios as "their territory."

Todd Combs subsequently left Berkshire in December 2025 to join JPMorgan, where he became the head of a new $10 billion strategic investment group under the bank's safety and resilience initiative and served as a special advisor to Jamie Dimon; his former position as CEO of Geico was taken over by COO Nancy Pierce. Ted Weschler remains in his position.

After Abel took over as CEO, he stated in a shareholder letter that the ultimate responsibility for equity investments lies with him; Weschler manages about 6% of the investments, including some positions that were originally Combs', while continuing to participate in major opportunity assessments and business inputs. This led to the conclusion that about 94% of the core publicly traded stock positions are now directly overseen by Abel.

Previously, Combs and Weschler managed only about 10% of the approximately $300 billion stock portfolio, independently of Warren Buffett and each other. The market generally attributes relatively smaller holdings such as DaVita, Sirius XM, VeriSign, Amazon, Visa, and Mastercard to the two, while larger positions like Apple, American Express, and Coca-Cola are still considered part of Buffett's portfolio.

Mechanically, after Combs' departure, Abel reportedly sold off the stocks under Combs' name and is unlikely to hire another dedicated stock manager, further consolidating investment decision-making power in the CEO; Weschler retains an independent sleeve, but its scale is capped at single-digit percentages. The buyer is the long-term capital remaining in Omaha, while the seller is the cleared mid-sized positions. The event-driven nature comes from the transition rather than a market crash, with the beneficiaries being the CEO who can make direct decisions and the remaining single manager, while the original expectation of a "dual-manager relay for the entire portfolio" is under pressure.

On a personal level, Weschler is still associated with holdings in DaVita and Sirius XM, and his early track record of turning about $70,000 in a personal account into hundreds of millions is used to explain why this small sleeve is retained rather than merged into the headquarters' general ledger.

Source: Public Information