Abel Concentrates Berkshire Portfolio in Top-Performing Tech Stocks

Greg Abel, Warren Buffett's successor as CEO of Berkshire Hathaway, has continued to shape the company's $360 billion investment portfolio. As of August 28, Abel had concentrated 63% ($226 billion) of Berkshire's assets in five top-performing stocks: Apple, American Express, Alphabet (parent company of Google), Coca-Cola, and Bank of America.

Apple accounts for 20.2% of invested assets with a value of $72.87 billion, while Alphabet makes up 10.2% with a combined value of $36.63 billion in both classes.

American Express has held steady as one of Berkshire's 'indefinite' holdings, along with Coca-Cola, which boasts an ultra-low cost basis and high dividend yield. In contrast, Bank of America was pared down for the eighth consecutive quarter by Abel, who sold over 30 million shares in Q2.

The tech sector now comprises more than 30% of Berkshire's investment portfolio, driven largely by Apple and Alphabet. This is a departure from Warren Buffett's historical preference for avoiding technology stocks.