No. of Recommendations: 1
I doubt it would happen. There is plenty of money coming in that needs allocated to keep both Todd & Ted busy without freeing up the capital contained in those huge positions. Then there is the pesky problem of HUGE capital gains. Taxes on those gains are essentially money borrowed at 0% interest. The Coke position was valued in last year's annual letter at $23.684 billion, with a $1.299 billion cost basis, so lots of taxes would be owed.
Berkshire had a large Gillette holding, that turned into a P&G holding, and was ultimately traded for the entirety of Duracell. I could definitely see a deal like that happening with holdings where it makes sense. I don't know how you'd separate a division of BAC, but Coke could be separated easier. In my mind that would be typical Berkshire.
But I'd be disappointed if Tedd & Todd decided to sell everything just because they weren't the ones that made the purchase decisions, and they wanted to draw a line between Berkshire under Buffett and Berkshire under new management.
If it happened early in their new roles, I'd be disappointed that whatever large acquisition required that much money wasn't brought to Buffett's attention.
