Greg Abel, who took over as CEO of Berkshire Hathaway on January 1, 2026, has deployed $19.8 billion in net stock purchases during the second quarter, marking the conglomerate’s return to aggressive buying after 14 consecutive quarters of net selling under Warren Buffett’s final years leading the company.
The investment spree represents a striking reversal from Buffett’s strategy of the previous three years, when Berkshire sold more than $200 billion in equities and accumulated a record cash hoard. Abel’s deployment includes a $10 billion private investment in Alphabet announced in June 2026 to support the search giant’s artificial intelligence infrastructure expansion, plus $4.5 billion in Berkshire share repurchases.
Buffett had been trimming Berkshire’s equity holdings since late 2023, citing concerns about valuations and market conditions. During 2024 alone, Berkshire sold $143 billion worth of shares, more than triple the $41 billion sold in 2023. By the end of 2025, the company had accumulated approximately $358 billion in cash and cash equivalents—the largest pile in Berkshire’s history.
Abel’s move to redeploy capital comes as Berkshire earnings rose 16% in Q2 2026, signaling operational strength under his leadership. The Alphabet investment is particularly notable as it makes Google’s parent company Berkshire’s third-largest stock holding, a position that reflects Abel’s confidence in the tech sector’s long-term prospects, particularly in artificial intelligence.
The shift in strategy reveals differences between Abel’s approach and Buffett’s cautious posture in his final years. While Abel has emphasized that he intends to maintain Berkshire’s core value-investing philosophy, his background in operations and his willingness to commit substantial capital to growth-oriented sectors like AI infrastructure suggest a more active deployment mindset. Warren Buffett, now 95 and retaining the title of chairman, has publicly endorsed Abel’s stewardship, saying he trusts him more than anyone with his money.
The 14-quarter selling streak that ended with Abel’s Q2 purchases had been the longest such streak in Berkshire’s history. Prior to the selling cycle, Berkshire had been a consistent net buyer of equities, using its investment expertise and scale to deploy capital into undervalued opportunities. Abel’s return to buying signals that he views current market conditions as favorable for selective, high-conviction investments—a judgment that directly contradicts the pessimism that characterized Buffett’s final investment decisions.
The $19.8 billion deployment ending Berkshire’s 14-quarter selling streak also reflects the broader challenge Abel faced upon taking the helm: managing a record cash position that had accumulated precisely because Buffett believed few bargains existed. By beginning to redeploy that capital, Abel is signaling confidence not only in specific companies like Alphabet, but in the broader equity market’s long-term value proposition.
Sources
- CNBC — Berkshire’s Q2 2026 stock purchases, Alphabet investment details, and earnings growth
- Reuters — Alphabet becoming Berkshire’s third-largest stock investment
- Yahoo Finance — Berkshire’s $23.5 billion total stock buying activity and Alphabet private placement
- Motley Fool — Historical context on the 14-quarter selling streak and Buffett’s prior strategy
- Morningstar — Greg Abel’s leadership transition and investment philosophy
- NBC News — Buffett’s 2024 selling activity and cash accumulation
