Greg Abel invests $23.5B, ends Berkshire Hathaway’s 14-quarter selling streak

Greg Abel has ended Berkshire Hathaway’s 14‑quarter net selling streak, buying nearly $23.5 billion of stocks while selling only $3.7 billion in the second quarter. The cash pile shrank from $397 billion to $365.5 billion as the new CEO put some of Berkshire’s dry powder to work. Berkshire also repurchased about $4.5 billion of its own shares, the largest buyback since 2024, signaling that Abel is moving to deploy capital rather than hoard it.

The shift comes as Berkshire reported a 16% year-over-year rise in operating income, giving Abel room to act. One clear signal was a $10 billion private placement in Alphabet in early June, making the tech giant one of Berkshire’s top five equity holdings. Analysts see this as a bet on artificial intelligence, a sector Buffett largely avoided. Berkshire also closed a $6.8 billion purchase of Taylor Morrison Homes, though that deal won’t appear in the next 13F filing.

The exact stock purchases won’t be public until Berkshire files its 13F after the market closes on August 14. Still, the buying streak alone is drawing attention. Abel faces pressure to show he can manage Berkshire’s capital differently from his predecessor. Buffett’s long shadow means investors will scrutinize every move, expecting faster reinvestment and fewer excuses to sit on cash.

What happens next matters because Berkshire’s cash pile has been a drag on returns. If Abel keeps buying equities and repurchasing shares, it could signal a new phase for the conglomerate. Investors are watching closely, hoping the shift signals a fresh opportunity rather than a short-lived experiment. The next 13F and third-quarter earnings will reveal whether this is a lasting change or a one-off blip.