Greg Abel has started his run as Berkshire Hathaway's chief executive with a clear change in capital allocation. The company bought more stocks than it sold for the first time in 14 quarters. Berkshire Hathaway's cash and Treasury bills fell to $365 billion at the end of June from $380 billion at the end of March, excluding Treasury payables.
The reduction came after the company opened its coffers in the second quarter and bought $23.5 billion of stocks, while selling only $3.7 billion. That left Berkshire with nearly $20 billion of net equity purchases during the quarter. It was the company's first quarter as a net buyer of stocks in more than three years. The last time Berkshire had a larger net outlay on stocks was in the first quarter of 2022.
