<figure><img src="https://i.insider.com/6a7773f88fcc2e955f7debe9?format=jpeg" height="5098" width="6797" alt="Berkshire Hathaway annual meeting"><figcaption>Greg Abel boosted spending on stocks and buybacks in the second quarter.<p class="copyright">AP Photo/Rebecca S. Gratz</p></figcaption></figure><ul class="summary-list"><li>Greg Abel made a dent in Berkshire Hathaway's cash pile last quarter.</li><li>Berkshire's heaviest spending on stocks and buybacks in years shrank its cash pile to $365 billion.</li><li>Warren Buffett grew Berkshire's cash to record highs as bargain stocks and acquisitions were scarce.</li></ul><p><a target="" class="" href="https://www.businessinsider.com/warren-buffett-greg-abel-berkshire-hathaway-shareholder-meeting-management-leadership-2026-5">Greg Abel</a> might just be a little looser with the purse strings than <a target="" class="" href="https://www.businessinsider.com/warren-buffett-95-birthday-berkshire-hathaway-stock-investing-025-8">Warren Buffett</a>.</p><p>Abel, who <a target="" class="" href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-meeting-resignation-audience-reaction-legacy-career-2025-5">succeeded Buffett</a> as Berkshire Hathaway's CEO at the turn of this year, oversaw a drop in the conglomerate's mountain of cash and Treasury bills from $380 billion at the <a target="" class="" href="https://www.businessinsider.com/berkshire-hathaway-q1-results-warren-buffett-greg-abel-stocks-cash-2026-5">end of March</a> to $365 billion at the end of June, excluding Treasury payables.</p><p>Berkshire opened its coffers to buy $23.5 billion in stocks while selling only $3.7 billion, meaning it purchased nearly $20 billion on a net basis. It had been a net seller for 14 quarters straight. The last time it had a larger net outlay on stocks was in the <a target="" class="" href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-stock-portfolio-purchases-buybacks-q1-earnings-2022-4">first quarter of 2022</a>.</p><p>Abel also repurchased $4.6 billion of Berkshire stock, marking the company's biggest quarter for <a target="" class="" href="https://markets.businessinsider.com/news/stocks/warren-buffett-stock-buybacks-reasons-loves-face-bailout-ban-coronavirus-2020-3">stock buybacks</a> since 2021.</p><p>The <a target="" class="" href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-economy-consumer-spending-demand-recession-homes-2024-8">parent company</a> of Geico, Dairy Queen, and Squishmallows-owner Jazwares reported a 16% year-on-year rise in operating income to $13 billion in the second quarter.</p><p>Lower insurance profits were offset by profit growth at <a target="" class="" href="https://www.businessinsider.com/warren-buffett-bnsf-train-robbery-nike-crime-theft-berkshire-merch-2025-3">BNSF Railway</a>, Berkshire Hathaway Energy, and the manufacturing, service, and retailing division, plus a nearly $1.3 billion foreign-currency exchange gain.</p><p>Berkshire <a target="" class="" href="https://www.businessinsider.com/greg-abel-taylor-morrison-warren-buffett-successor-berkshire-acquisition-alphabet-2026-7">completed its acquisition</a> of Taylor Morrison Home Corporation for $8.5 billion in cash on July 24, after the quarter ended.</p><p>Ramping up net stock purchases and buybacks marks a change in tempo for Berkshire. Its cash pile roughly doubled during Buffett's last two years as CEO as the legendary bargain hunter <a target="" class="" href="https://www.businessinsider.com/warren-buffett-berkshire-ceo-retirement-greg-abel-challenges-cash-dividend-2026-1">struggled to find them</a> in a red-hot market for stocks and private businesses.</p><p><a target="" class="" href="https://www.businessinsider.com/warren-buffett-ceo-retirement-surprise-succession-planning-berkshire-meeting-abel-2025-5">Macrae Sykes</a>, a portfolio manager at Gabelli Funds, said in emailed comments that he welcomed the sizable buyback since it suggested Abel and Buffett — who <a target="" class="" href="https://www.businessinsider.com/warren-buffett-legacy-omaha-berkshire-shareholder-meeting-weekend-abel-home-2026-5">remains chairman</a> — once again saw Berkshire shares as offering good value for money, and were finding ways to deploy cash.</p><p>Abel pledged allegiance to Buffett's signature approach of disciplined capital allocation in his <a target="" class="" href="https://www.businessinsider.com/greg-abel-shareholder-letter-warren-buffett-berkshire-ceo-succession-tribute-2026-2">first letter to shareholders</a> in February, writing that Berkshire pursues opportunities where the reward matches the risk.</p><p>Buffett's successor said he's proud of Berkshire's "<a target="" class="" href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-dow-chemical-stock-deal-financial-crisis-2023-9">nimble culture</a>," which enables it to make considered, thoughtful investments quickly.</p><p>"Many times in Berkshire's history, some observers have suggested that our substantial cash position signals a retreat from investing. <a target="" class="" href="https://www.businessinsider.com/warren-buffett-cnbc-interview-berkshire-hathaway-deals-acquisitions-cash-investing-2026-1">It does not</a>. We continue to evaluate many opportunities and will remain patient and disciplined in pursuing the right ones for the benefit of our owners," Abel wrote.</p><div class="read-original">Read the original article on <a href="https://www.businessinsider.com/berkshire-hathaway-warren-buffett-greg-abel-spending-cash-pile-2026-8">Business Insider</a></div>]]