Berkshire Hathaway's quarterly profit more than doubled in its first quarter under new CEO Greg Abel, driven by stronger performance from insurance and railroad operations. The results arrived just ahead of the company's annual shareholder meeting, where Abel took the stage replacing Warren Buffett, who led the conglomerate for decades.

The conglomerate's pile of cash and Treasury bills swelled to a record $381.1 billion after accounting for a payable for purchasing short-term government debt. That represents a nearly 2% increase from the $373.1 billion recorded at the end of 2025, demonstrating Berkshire's continued ability to accumulate capital despite market volatility.

The strong showing provides early validation for Abel's leadership, which began when he succeeded Buffett as CEO earlier this year. Investors will be watching how the new boss deploys that massive cash pile in the quarters ahead.