Warren Buffett's Successor, Greg Abel, Has 30% of Berkshire's $358 Billion Portfolio Invested in 2 Preeminent AI Stocks

Apple introduced the M5 Ultra and M6 chips, with the M5 Ultra being its most powerful yet. The M6 will be in a new Mac mini, priced at $899, while the M5 Ultra will be in a revamped Mac Studio, starting at $2,499. Anthropic claims a $30 trillion total addressable market ahead of a potential IPO. Instagram's CEO testified that the 'Take a Break' feature was slow-rolled due to low teen adoption.

Warren Buffett, chairman of Berkshire Hathaway, remains influential in investment decisions, despite stepping down as CEO. Berkshire increased its stake in Alphabet by 83% in Q2, making it the third-largest U.S. stock holding. Buffett initiated this investment, reversing a long streak of stock selling. Berkshire's cash reserves stand at $397.4 billion, with Buffett expressing cautious optimism about Alphabet's prospects.

Apple launched a faster Mac mini and Mac Studio, starting at $899 and $2,499, respectively, targeting AI and professional users. The devices feature new M6 and M5 chips, offering improved performance. Apple cited rising memory chip costs as a factor in price increases. This is likely the last major launch under CEO Tim Cook.

Bill Ackman's Pershing Square Capital Management sold its Alphabet stake and increased its Microsoft (MSFT) position to $2.3 billion, making it the largest AI holding. Microsoft reported Q4 revenue of $90 billion, net income of $35.76 billion, and positive free cash flow. Pershing cited Microsoft's software suite, Azure growth, and AI investments as reasons for its bullish stance.

Apple has begun rolling out ads in Apple Maps for users in the U.S. and Canada, with sponsored listings appearing in search results and suggested places. Businesses can create ads through Apple Business, selecting formats and budgets. Apple emphasizes privacy, using contextual info but not personal data for ad targeting. The rollout started in recent days and will expand over the coming weeks, according to 9to5Mac.

Berkshire Hathaway (BRK.A, BRK.B) shifted to net stock buying in Q2 2026, contrasting Warren Buffett's cash-hoarding stance. Under Greg Abel, it bought Alphabet ($17B), Delta ($1.64B), Lennar ($273M), and Macy's ($101M), while selling Bank of America ($1.7B) and others. Buffett still views the market as overvalued, per a May CNBC interview.