Berkshire Hathaway Deploys $20 Billion as Greg Abel Takes Charge
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Berkshire Hathaway has ended a three-year selling streak under CEO Greg Abel, deploying a net $20 billion into stocks, including a significant $10 billion investment in Alphabet. The company also repurchased approximately $4.5 billion of its own shares, marking a notable shift in strategy as it utilizes its substantial cash reserves.
The conglomerate's earnings rose 16% last quarter, driven by strength in its energy, railroad, and manufacturing sectors, which helped offset weaker results in insurance. This move reflects Abel's commitment to making his mark at Berkshire, as the company actively reduces its cash hoard while enhancing its investment portfolio.
Sources
Every quote below is verbatim from the article it is attributed to.
“Berkshire Hathaway chief ends more than three-year selling streak as he ploughs a net $20bn into stocks”
FT — Greg Abel finally puts Buffett’s cash pile to work“Berkshire Hathaway stepped up spending under CEO Greg Abel, repurchasing about $4.5 billion of its shares while deploying billions more into investments.”
Bloomberg — CEO Greg Abel Starts Making His Mark at Berkshire“Strength across its energy, railroad and manufacturing businesses more than offset weaker insurance results.”
CNBC — Berkshire earnings rose last quarter and CEO Greg Abel is starting to deploy Buffett's massive cash hoard“Berkshire's report suggested that it had added more than $24 billion worth of commercial, industrial and other stocks to its portfolio.”
Fortune — Berkshire Hathaway finally spends massive cash pile, buying $10 billion in Alphabet stock and repurchasing $4.5 billion in shares“Berkshire Hathaway earnings rose 16%.”
IBD — Berkshire Hathaway Beats Earnings Views, Ups Buybacks, Cuts Cash Hoard
Earlier versions
- Aug 8, 1:02 PM — Greg Abel Invests $20bn from Buffett’s Cash Pile into Stocks (2/2)
- Aug 8, 2:15 PM — Berkshire Hathaway Reports Q2 Earnings Growth and Deploys $20 Billion Cash Hoard (3/3)