The 'Magnificent Seven,' a group comprising seven mega-cap growth stocks, should be expanded to include Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK), according to the investment chief of a wealth consulting group.

What Happened: The current 'Magnificent Seven' includes Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL), Amazon.com Inc. (NASDAQ:AMZN), Meta Platforms Inc. (NASDAQ:META), Tesla Inc. (NASDAQ:TSLA), and Nvidia Corporation (NASDAQ:NVDA).

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These stocks have outperformed the market this year, showing resilience against elevated inflation, higher interest rates, and recession fears.

Jim Worden, the CIO of The Wealth Consulting Group, suggested that while the 'Magnificent Seven' are impressive performers, they all belong to the tech sector or have tech-related businesses, limiting portfolio diversification, Business Insider reported.

Worden proposed the inclusion of Berkshire Hathaway to the group for its larger market capitalization than Tesla or Meta, and its presence in numerous sectors, thus significantly diversifying the group.

"I'm not trying to take anything away from the Magnificent Seven, but it's not a super-diversified portfolio," he said.

Berkshire Hathaway, despite not being a fast-growing tech company, compensates with multiple advantages such as the ability to be patient and opportunistic in their investments, thanks to insurance operation premiums.

Worden highlighted that the company often invests in high-quality businesses at attractive prices, a strategy that limits downside and fuels outperformance over time.

Worden concluded that given Berkshire's strengths, it should be included in a "Magnificent Eight".