But many non-tech companies, like Warren Buffett-led Berkshire Hathaway, have been outperforming the Magnificent Seven so far this year. Some investors may be gravitating toward Berkshire for its reasonable valuation, track record of enduring economic uncertainty, and diversification across various industries.

Fast forward half a century, Bill Ackman, the billionaire hedge fund manager behind Pershing Square Capital Management, is looking to replicate Buffett’s success by creating a “modern-day Berkshire Hathaway.

Warren Buffett's Berkshire Hathaway reduced its Bank of America stake to less than 9% and pared bets on Citigroup and Capital One last quarter.