Why Berkshire's Latest Move Proves It's Not Really a Warren Buffett Company Anymore

Warren Buffett isn't the CEO of Berkshire Hathaway (NYSE:BRKA)(NYSE:BRKB) , and he hasn't been since last year. Greg Abel took over at the start of 2026, but there have been reports of Buffett and Abel talking regularly and being in sync on discussions about investments.

For a while, it still felt like a Buffett-run business. But then, Berkshire announced a move that just seemed way out of left field. It acquired a stake in Bending Spoons. It's not involved in selling kitchen supplies, nor does it have anything to do with The Matrix. Those were my first two guesses.

I think either one would have been better than what the business is actually about: buying up software businesses (sometimes troubled ones), and trying to improve them or turn their business around, including AOL. This is not the type of business I would see Buffett investing in, and I think it shows that Berkshire's trajectory is changing course.

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It's not a relatively big position, but it is a notable one

Berkshire invested $600 million into the Milan-based company's IPO during the summer and has since added $330 million to its position.

Buffett hasn't historically been keen on acquisition-hungry companies in the past, and that's putting it lightly. Back in 2014, at Berkshire's annual meeting, the billionaire investor expressed skepticism about companies making acquisitions. "When we read that a company we don't control is going to make an acquisition, I'm much more inclined to cry than to smile."

Suffice to say, Bending Spoons is not the type of business I would expect Buffett to invest in. Not only is it taking on some considerable risk with brands of questionable value, but its earnings are by no means consistent and predictable, which is what Buffett often seeks when looking at long-term investments.

It's not a huge position in Berkshire's portfolio, accounting for just 0.4%, but I think it's a noteworthy one, and a potential sign of things to come, simply because it is so unusual for Berkshire.

Should Berkshire investors be concerned?

Investing in Bending Spoons isn't going to break Berkshire's portfolio or put its shareholders at significant risk. But I do believe it marks a turning point, with Abel appearing to be more willing to take on risk and invest in tech.

That's also why, however, I'd take more of a wait-and-see approach with Berkshire's stock these days, to take some time and see the types of companies that Abel is investing in, to determine whether the business is moving in the right direction. After this recent move, I'm not as sure anymore.

David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway. The Motley Fool has a disclosure policy.