Greg Abel’s Berkshire Hathaway invests $20 billion in Q2

Berkshire Hathaway just snapped a 14-quarter streak of selling stocks, with Greg Abel’s team ploughing nearly $20 billion into equities during the second quarter.

The buying spree wiped almost $32 billion off Berkshire’s cash pile, which shrunk from $397 billion at the end of March to $365.5 billion by June 30. Buffett’s successor has now started to put Berkshire’s mountain of cash to work, a shift that follows a year of net sales in every quarter since late 2021. The move coincides with a 16% rise in operating income for the quarter, signalling both financial muscle and confidence in the market’s near-term outlook.

The firm bought roughly $23.5 billion worth of stocks and sold only $3.7 billion, reversing the net-selling pattern that had dominated Berkshire’s portfolio for years. The clearest recent position is Alphabet, where Berkshire quietly parked $10 billion in early June through a private placement; Alphabet now ranks among the top five holdings in Berkshire’s $355 billion equity portfolio and is one of its boldest bets on artificial intelligence. Berkshire also repurchased $4.5 billion of its own shares in the quarter—more than it bought back in the whole of 2024 and none at all in 2025—sending a signal that management sees value in Berkshire’s own stock.

Investors will have to wait until at least August 14, when Berkshire files its 13F report, to see the full list of second-quarter purchases. Until then, the market can only guess which companies joined Alphabet on the buy list. Abel is under closer scrutiny than Buffett ever was, so every dollar deployed will be measured against the legacy left by the Oracle of Omaha. If the buying continues, it could be the clearest “buy” signal yet for a market hungry for conviction from the world’s most watched investor.