Berkshire earnings rose last quarter and CEO Greg Abel is starting to deploy Buffett’s massive cash hoard
Greg Abel began deploying Berkshire’s cash hoard with a $10 billion Alphabet stake, $4.5 billion in buybacks and nearly $20 billion in net equity purchases.
- On Saturday, Berkshire Hathaway reported second-quarter operating earnings climbed 16% to $12.98 billion as CEO Greg Abel began deploying cash, which shrank to $365.5 billion from $397.4 billion.
- Abel is accelerating capital deployment, marking a shift from the net-selling strategy Berkshire maintained for 14 consecutive quarters before becoming a net buyer of equities with nearly $20 billion in purchases.
- Alphabet Inc. joined Berkshire's top five equity holdings after a $10 billion investment to support artificial intelligence, placing it alongside longtime stakes in Apple and Coca-Cola.
- Repurchasing approximately $4.5 billion of its own shares during the quarter, Berkshire provided shareholders with the largest quarterly payout since 2021, followed by over $3.3 billion in July.
- In July, Berkshire completed a $6.8 billion acquisition of homebuilder Taylor Morrison Home Corp., demonstrating Abel's strategy of utilizing cash reserves to expand the conglomerate's diverse business portfolio.
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Abel, who tore down the 500 trillion won cash fortress built by Buffett, leads Berkshire to net stock purchases for the first time in 3 years. Greg Abel, the CEO who took the helm of Berkshire Hathaway—which investment genius Warren Buffett led for 60 years—has begun to tear down the $360 billion (approximately 500 trillion won) cash fortress built by Buffett. Overvalued stocks
Warren Buffett's successor is finally spending the huge cash pile he built at Berkshire Hathaway
Greg Abel boosted spending on stocks and buybacks in the second quarter.AP Photo/Rebecca S. GratzGreg Abel made a dent in Berkshire Hathaway's cash pile last quarter.Berkshire's heaviest spending on stocks and buybacks in years shrank its cash pile to $365 billion.Warren Buffett grew Berkshire's cash to record highs as bargain stocks and acquisitions were scarce.Greg Abel might just be a little looser with the purse strings than Warren Buffett.A…
Berkshire Hathaway Just Did Something It Hasn't Done in More Than 3 Years
For three years, Greg Abel sat on one of the largest cash piles in corporate history while the market ran without him. Something just changed, and the new portfolio bets reveal exactly where Berkshire is placing its next big wager.
(New York = Yonhap News) Correspondent Kim Yeon-sook = Warren Buffett (95), known as the 'investment guru,' stepped down, and Berkshire Hathaway, which welcomed a new CEO this January...
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