Greg Abel, Berkshire Hathaway's new CEO, concentrates over 28% of the $330 billion portfolio in Apple and Alphabet during first quarter

Following Warren Buffett's retirement as CEO on Dec. 31, Greg Abel took over Berkshire Hathaway's day-to-day operations and $330 billion investment portfolio. In the first quarter, Abel exited a third (16) of Buffett's positions and concentrated over 28% of the portfolio into Apple ($71.1 billion, 21.6% of invested assets) and Alphabet ($22 billion, 6.7% of invested assets).

Abel added to Berkshire's Alphabet position by purchasing 36,403,656 Alphabet Class A shares and opening a new position with 3,585,215 Alphabet Class C shares during the March-ended quarter. Google accounts for between 89% and 93% of monthly global internet search traffic over the trailing decade, and Google Cloud sales jumped 63% compared with the previous year.

Abel views both companies as multidecade compounders with AI as a key growth driver. Apple's integration of Apple Intelligence into its physical devices and updates to Siri are expected to bolster demand for iPhone, Mac, and iPad. Alphabet has positioned itself as a premier company in AI applications through generative AI solutions in Google Cloud.