Greg Abel has ploughed $19.8bn into the market in the second quarter, ending Warren Buffett’s more than three‑year selling streak at Berkshire Hathaway Inc. The moves, which include a $10bn purchase of Alphabet common stock and $4.5bn spent on Berkshire shares, signal Abel seedu to put the company’s $366bn cash pile to work.
Abel’s decision to jump back into the market is stark, especially as U.S. equities sit at record highs. Buffett had been trimming Berkshire’s $324bn listed stock portfolio and holding cash, a strategy that many saw as a bet on a future downturn. Now Abel is buying big: Berkshire bought $85bn in Alphabetági and announced an $8.5bn acquisition of home builder Taylor Morrison.
The company’s cash levels fell by $15bn in the quarter, adjusted for U.S. government debt Berkshire holds. Berkshire owns Geico, National Indemnity, Duracell and Fruit of the Loom, among others, and spent $23bn buying publicly listed stocks in Q2, with Alphabet becoming one of its top five holdings.
Berkshire sold $3.7bn of stock during the quarter, the smallest amount since 2022, and investors will see a clearer picture of portfolio changes when quarterly holdings are filed with regulators.
Source: Financial Times Companies · Summarized by HeadlinesBriefing