Greg Abel became CEO in January after Warren Buffett retired following six decades at Berkshire Hathaway|Tankforwin|CC BY-SA 4.0
Berkshire Hathaway CEO Greg Abel has begun making bigger moves with the company’s enormous cash pile.
The company reported second-quarter results Saturday, showing its cash reserves fell to $365.5 billion, down from $397 billion at the end of March.
Warren Buffett spent his final years as Berkshire Hathaway’s CEO sitting on a mountain of cash. From October 2022 through December 2025, the company was a net seller of stocks, increasing its cash reserves more than threefold. Greg Abel has taken a very different approach since becoming CEO this year, quickly putting the company’s money to work.
He invested $10 billion in Alphabet and bought back about $4.5 billion of Berkshire’s own shares.
Investors had been watching closely for stronger buybacks after the company repurchased only $234 million of its shares in the first quarter. The latest $4.5 billion buyback suggests Abel is more willing to deploy capital when Berkshire considers its stock undervalued.
Abel also added more than $21 billion in commercial, industrial and other stocks, although he has not yet revealed the companies involved.
Berkshire’s net profit more than doubled to $25.7 billion, helped by investment gains. Operating profit also increased to nearly $13 billion. However, Geico’s underwriting profit fell 45%, raising concerns about the insurer’s performance.