Warren Buffett officially stepped down as Berkshire Hathaway CEO at the end of 2025. Greg Abel is taking over the $316B portfolio. He is sticking to Buffett's value investing approach, but his biggest move right now is in Japan. He has allocated about $46B (nearly 15% of the portfolio) to five major Japanese trading houses and recently added a $1.8B stake in Tokio Marine. The reasoning is pretty straightforward. These Japanese companies prioritize shareholder returns, keep executive pay reasonable, and offer much better valuations compared to the US market. Most of them are trading at high single to low double-digit P/E ratios.