Shares in Berkshire Hathaway dipped modestly on Friday as the company weathered its first day without Warren Buffett at the helm.

Buffett announced plans to retire in May of last year, but did not formally exit his post until Thursday. Friday marked Greg Abel's first day as CEO.

As of press time, shares in Berkshire Hathaway were down 1.73%, nearly identical to the overall year-to-date drop, according to Yahoo Finance. Buffett, for his part, expressed confidence ahead of the transition that Abel would steward the company well.

"I'd rather have Greg handling my money than any of the top investment advisors or any of the top CEOs in the United States," he told CNBC.

Buffett is 95 years old and has controlled Berkshire Hathaway since the 1970s.

Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.