-- Hedge funds continued to lean into the biggest technology companies leading the way in artificial intelligence as the hype propelled the US stock market higher in the first quarter of the year.F1 Mogul’s Ex-Wife Builds Family Office to Manage Divorce Riches
At the same time, fund managers trimmed holdings of Thermo Fisher Scientific Inc., Snap Inc. and Advanced Micro Devices Inc., according to the data. Renaissance Technologies LLC exited Exxon Mobil Corp. while adding Chevron Corp. The fund upped its weightings in financial stocks by more than any other industry, while decreasing its weightings in the communications sector.
Berkshire Hathaway slashed its position in Apple Inc. as it cut its overall weighting in technology stocks. Even after the reduction, Apple still represented its largest holding, constituting 41% of assets. "We have had more and more work added, 12-16 hour days, maximum stress to be cut free without a thought or a warning," one impacted Amazon manager told Fortune. -- Uber Technologies Inc. is launching shuttle bus services to and from airports, concert venues and sports stadiums. The delivery company separately announced that Costco Wholesale Corp. is joining as a grocery partner on its delivery platform, Uber Eats.