Berkshire Hathaway deployed $33.7 billion from its cash reserves across whole-company acquisitions, equity investments and share repurchases since January 2026, reducing its cash holdings to $365.5 billion by the end of the second quarter, down from a record $397.4 billion at March 31.
Greg Abel assumed the CEO role on Jan. 1, 2026, inheriting the cash pile that Berkshire had accumulated over several years. Former CEO Warren Buffett had cited a lack of attractive investment opportunities as the reason for holding it.
Abel's largest moves were full acquisitions. Berkshire completed the $9.7 billion purchase of OxyChem from Occidental Petroleum in January and acquired homebuilder Taylor Morrison in June for $6.8 billion.
Beyond full acquisitions, Berkshire made targeted equity investments: $2.6 billion in Delta Air Lines stock and a $55 million position in Macy's. The company also tripled its position in Alphabet, adding more than $10 billion in stock. Buffett said he initiated that technology investment.
Berkshire repurchased $4.5 billion of its own shares during the second quarter.
Buffett previously said he found it difficult to identify attractive opportunities, describing the market as richly valued and driven by high-valuation AI companies with no profits. Abel has focused on whole-company acquisitions, whose financials integrate directly into Berkshire's operating results—a structure that reduces liquidity compared with holding marketable securities. Berkshire holds acquired companies permanently, rarely selling subsidiaries.
Abel's $6.8 billion Taylor Morrison deal exceeded the combined outlay on new stock positions in Delta and Macy's. Buffett praised Abel's dealmaking for its speed and execution.
Abel has been CEO for less than a year, but his early capital deployment favors larger, concentrated acquisitions over the cash accumulation that defined Berkshire's recent years.
