**Warren Buffett Retires, Greg Abel Takes Helm at Berkshire Hathaway**
Warren Buffett officially retired as CEO of Berkshire Hathaway on December 31, 2022, handing over leadership to Greg Abel, who now oversees the company’s $358 billion investment portfolio. Under Abel’s management, Berkshire has significantly increased its exposure to the technology sector, with approximately 30% of invested assets now in two major artificial intelligence stocks: Apple and Alphabet.
**Portfolio Shift Towards Tech**
As of August 20, Berkshire’s largest investment remains Apple, accounting for $71 billion or 19.8% of its assets. Meanwhile, Alphabet has become the company’s fourth-largest position after an aggressive investment of roughly $17 billion in the second quarter of 2023, now totaling $36 billion (10.1% of invested assets). Alphabet holds a 91% share of global internet search traffic and has reported a remarkable 82% revenue growth in its cloud services, indicating a strong shift focus towards AI in response to market demands.
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