April 17 (Reuters) – Berkshire Hathaway Chief Executive Greg Abel has sold stocks previously managed by Todd Combs, one of Warren Buffett’s former investment managers, the Wall Street Journal reported on Friday, citing people familiar with the conglomerate’s investments.
The move comes after Combs left Berkshire in December to join JPMorgan Chase, and marks one of the clearest changes to Berkshire’s portfolio so far under Abel, who succeeded Buffett as CEO in January. Buffett remains chairman.
Abel is unlikely to hire anyone to help manage the portfolio, the newspaper said, citing the people.
Berkshire has not disclosed which common stock investments were managed by Combs and Ted Weschler, another portfolio manager who remains with Berkshire.
Larger investments such as Apple were generally understood to be directed by Buffett, and now Abel. Berkshire is expected to disclose more specifics about its equity holdings in its quarterly report on May 2 and in a regulatory filing in mid-May.
Abel’s assistant did not immediately respond to a request for comment after business hours.
(Reporting by Disha Mishra in Bengaluru and Jonathan Stempel in New YorkEdting by Shri Navaratnam)
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