Berkshire Hathaway’s Greg Abel reverses Buffett’s key convictions in first six months as CEO

Warren Buffett spent his final years as Berkshire Hathaway CEO building what amounted to the world’s most expensive savings account. His successor just raided it. Greg Abel, who officially took the top job on January 1, 2026, has burned through $32 billion in cash reserves in roughly six months, transforming Berkshire from a cautious hoarder into an aggressive buyer. The conglomerate’s cash pile dropped from a record $397.4 billion at the end of Q1 2026 to $365.5 billion by June 30, a reversal so sharp it would make Buffett’s famous patience look almost quaint. The spending spree in numbers The second quarter of 2026 tells the story most clearly. Berkshire became a net buyer of equities for the first time in more than three years, scooping up nearly $20 billion worth of stocks. For context, Buffett had been a persistent net seller of equities throughout his final stretch, trimming positions in Apple and other major holdings while letting the cash balance swell quarter after quarter. Abel also restarted share buybacks with conviction. Berkshire repurchased $4.5 billion of its own stock in Q2 2026 alone. Under Buffett, buybacks had essentially dried up as the legendary investor signa...