Greg Abel, CEO of Berkshire Hathaway since May 2025, deployed a significant portion of the company’s cash reserves in his second quarter at the helm. Berkshire’s cash pile fell 8% to $365.5 billion, marking the first decline since early 2022. The company spent $4.5 billion on share buybacks, more than the $235 million in Q1 but below analyst forecasts. Berkshire became a net buyer of equities for the first time in 14 quarters, with a net increase of $20 billion including a $10 billion investment in Alphabet, Google’s parent. Operating earnings rose 16% to $12.98 billion, though GEICO’s underwriting profits dropped 45%.
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