Greg Abel allocated more than 28% of Berkshire Hathaway's $330 billion equity portfolio to Apple and Alphabet in his first quarter as CEO, marking a decisive turn toward technology stocks.
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Greg Abel puts 28% of Berkshire's $330B portfolio into 2 AI titans
Greg Abel allocated more than 28% of Berkshire Hathaway's $330 billion equity portfolio to Apple and Alphabet in his first quarter as CEO.
"I'm very happy to have it be our largest holding," Warren Buffett said of Apple in an interview in March, before his retirement. "I was not happy to have it be as large as almost everything else combined."
The combined stake of roughly $92.4 billion reflects Abel's decision to triple Berkshire's position in Alphabet while maintaining Apple as the largest holding at 21.4% of invested assets. Alphabet now accounts for 6.8%, up from about 2% at the end of 2025. Abel also exited 16 positions in the first quarter, including a complete sale of Amazon's 2.3 million shares.
The portfolio shift marks the most significant strategic change since Buffett's retirement on Dec. 31 after 60 years as CEO. Abel concentrated Berkshire's capital in two technology giants — Apple at 36 times forward earnings and Alphabet at 27 times — a departure from Buffett's traditional preference for consumer and industrial stocks.
Apple's services business drives margin expansion
Apple's high-margin services segment continues to grow, with a revamped Siri personal assistant powered by artificial intelligence expected later this year. The company faces near-term pressure from rising memory prices tied to AI data center demand, but management said it is better positioned than competitors to manage component costs. Apple shares have gained 15% year to date.
Alphabet's cloud business accelerates as AI investment pays off
Google Cloud revenue climbed 63% year over year in the first quarter, with operating margin expanding to 32.9% from 17.8% a year earlier. Alphabet's Gemini family of AI models competes directly with offerings from OpenAI and Anthropic, while its Tensor Processing Units are gaining adoption among developers seeking alternatives to Nvidia's graphics processing units. Google has maintained 89% to 93% of global internet search traffic over the past decade, according to GlobalStats.
Abel's decision to sell Amazon — acquired in 2019 at a split-adjusted price of roughly $80 — locked in gains of more than 130% as the stock traded above $200. Amazon's price-to-earnings ratio of 32 stood above the broader market, a factor that likely influenced the exit for a value-focused manager.
The 13F filing covers Berkshire's US-listed equity holdings as of March 31. Abel's next quarterly disclosure will show whether he continued to concentrate the portfolio in the second quarter. Investors will watch for further sales of legacy holdings and additional purchases in the technology sector.
This article is for informational purposes only and does not constitute investment advice.
[1] Warren Buffett's Successor, Greg Abel, Has More Than 28% of Berkshire Hathaway's $330 Billion Portfolio Invested in 2 AI Titans[2] Warren Buffett's Successor, Greg Abel, Started His Tenure With a Bang by Dumping Amazon and More Than Tripling Berkshire's Stake in a Virtual Monopoly - The Motley Fool[3] Berkshire, under new CEO Greg Abel, invests $16.8 billion in two days[4] Greg Abel Just Dumped Amazon Stock. Here Are 5 Reasons to Buy It.[5] Berkshire Hathaway Has 28% of Its Portfolio in These 3 Warren Buffett-Approved AI Stocks
