Greg Abel Sells Berkshire Amazon Stake, Buys 3 Million Macy's Shares

On June 5, 2026, Berkshire Hathaway under new CEO Greg Abel sold its entire Amazon position of roughly 2.3 million shares and opened a new stake of about 3 million Macy's shares. The moves reflect a portfolio reshuffle following manager departures rather than a strategic shift away from tech, as Apple remains the top holding within the $263 billion portfolio. Macy's shares rose after the disclosure as investors highlighted the retailer's improving results, including Q1 net sales of $4.7 billion, 3% comparable sales growth, and a low 10.2x forward earnings multiple that signals Berkshire's continued focus on undervalued, asset-backed opportunities.