Berkshire’s latest 13F filing reveals CEO Greg Abel’s first major portfolio shift, including a new position in struggling retailer Macy’s.
Berkshire Hathaway disclosed its first 13F filing under CEO Greg Abel, revealing a new stake in Macy’s (NYSE: M). The move reflects Abel’s strategy to concentrate the portfolio into fewer high-conviction holdings, trimming smaller positions while adding to select stocks.
Macy’s stock has declined 38% over the past decade as the retailer struggles with shifting consumer habits and e-commerce competition. Despite challenges, the company has expanded its online presence and reduced its real estate footprint, aligning with broader omnichannel retail trends.
The filing shows Abel’s willingness to invest in legacy brands with potential turnaround opportunities, diverging from Warren Buffett’s traditional approach. Market reaction to the disclosure remains limited as investors assess the long-term implications.