Warren Buffett is ‘still in the game’: The Omaha Oracle may be making more Berkshire investment decisions than you think

Warren Buffett continues to play a significant role in Berkshire Hathaway's investment decisions despite stepping down as CEO. Following the handover to Greg Abel, Buffett remains the chairman of the conglomerate and maintains considerable sway over its $300 billion U.S. stock portfolio. This influence is especially evident as Berkshire begins reinvesting some of its substantial cash reserves.

Recent portfolio disclosures reveal that Berkshire increased its stake in Google's parent company, Alphabet, by 83% in the second quarter, expanding its holdings to nearly 106 million shares worth approximately $38 billion as of June 30. This brings Alphabet to the third spot on Berkshire's list of U.S. stock holdings, following Apple and American Express.

This surge in Alphabet's holdings might have initially appeared as a sign of Berkshire's new CEO putting his mark on the investment portfolio. However, Buffett revealed in a July CNBC interview that he personally initiated the investment in Alphabet, contradicting speculation that Abel was the one responsible. This move is especially notable since Buffett has typically been hesitant to invest in technology stocks, which Alphabet represents.

While Buffett doesn't consider Alphabet as one of his top four or five Berkshire businesses, he believes the company has a greater chance of being a successful investment than 90% to 95% of Wall Street pitches. Despite the investment's recent success, with Alphabet shares rising more than 43% since Berkshire's first investment in the company, Buffett has acknowledged that he and Abel regularly discuss investments, and Abel ultimately holds the final say as the CEO.

For now, however, Buffett's continued involvement in Berkshire's major moves suggests a gradual handoff rather than a clean break.