Berkshire Hathaway Cash Reserves Decline Under New CEO

Berkshire Hathaway's cash reserves declined significantly in Q2 under new CEO Greg Abel. The company's cash fell to $365.5 billion, down 8% from its record high of $397.4 billion at the end of March.

This marks the first time since early 2022 that Berkshire's cash reserves have decreased. Much of this spending can be attributed to the company's share buybacks, which totaled $4.5 billion in Q2. This is a significant increase from the $235 million spent on share buybacks during the previous quarter.

Cathie Seifert of CFRA Research and Macrae Sykes of Gabelli Funds both expressed positive views on the company's decision to repurchase shares, stating that it 'provides confidence for shareholders' and demonstrates Berkshire's ability to allocate corporate capital effectively.