Warren Buffett's Successor, Greg Abel, Has Over $42 Billion of Berkshire Hathaway's Capital Invested in 3 Virtual Monopolies
It's been a year of historic change for shareholders of Berkshire Hathaway (NYSE:BRKA) (NYSE:BRKB) . On Dec. 31, Warren Buffett , who oversaw a greater-than-6,000,000% outperformance of the benchmark S&P 500 while involved with Berkshire, retired as CEO, giving his understudy, Greg Abel, control over Berkshire's $358 billion portfolio. Earlier this month, he also stepped down as chairman of Berkshire's board. But as several things change for this trillion-dollar conglomerate, the search for value and businesses with sustainable competitive edges remains the same. As of the closing bell on Sept. 25, Abel was overseeing more than $42 billion invested in a trio of virtual monopolies: Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) , Sirius XM Holdings (NASDAQ:SIRI) , and VeriSign (NASDAQ:VRSN) . Virtual and legal monopolies play a big role in Berkshire's $358 billion investment portfolio. Image source: Getty Images. Continue reading