Berkshire Hathaway boosts $20 billion in stock purchases, Greg Abel rejects crypto

Buybacks and stock purchases surge in Q2

During the second quarter, Berkshire Hathaway repurchased $4.5 billion of its shares, a notable jump from the $235 million spent on buybacks in the first quarter. The company also ended a 14-quarter streak as a net seller of public equities by making nearly $20 billion in net stock purchases between April and June.

The conglomerate, known for wide-ranging business interests in insurance, railroads, energy, and manufacturing, saw its manufacturing, service, and retail segments generate $4.47 billion in earnings—a 24% increase year-over-year.

As a result of these actions, Berkshire’s cash reserves fell to $365.5 billion at the end of June, dropping from a record $397.4 billion three months prior. Significant outflows were directed into both share buybacks and public stock investments.

Shift in equity strategy and key holdings

Berkshire Hathaway’s renewed appetite for stocks follows years of caution under Warren Buffett, who cited difficulties in finding favorably priced equities. Consequently, large portions of cash had been parked in US Treasuries. Greg Abel’s recent positioning signals a more active approach to allocating capital within public markets.

Among Berkshire Hathaway’s portfolio, Alphabet moved into the top five holdings by market value by the end of June. Other leading positions include American Express, Apple, Bank of America, and Coca-Cola. Earlier this year, Berkshire invested $10 billion in Alphabet as the company raised funds for artificial intelligence initiatives, a move discussed jointly by Warren Buffett and Greg Abel.

Despite strong earnings, Berkshire’s stock price growth has lagged behind the broader market. The firm’s shares are up roughly 3% in 2026 compared with a 13% gain in the SP 500, though Berkshire shares have risen 9% over the past three months.

Stance on crypto and technology investments

While Berkshire Hathaway continues to expand into technology, CEO Greg Abel remains skeptical of cryptocurrency investments. He stated that the conglomerate currently has no plans to add digital assets, although he has not ruled out the sector entirely in the future.

Greg Abel indicated that he does not yet see sufficient economic value in the cryptocurrency market and expressed doubts about the tangible benefits of blockchain systems. This perspective aligns with Berkshire Hathaway’s historic emphasis on businesses that produce steady cash flows.

Greg Abel told CNBC, “I don’t think you’ll see crypto … I just don’t see it.”

While digital assets remain off-limits for now, Berkshire Hathaway has demonstrated increased willingness to deploy capital into technology companies. Recent investments and closer scrutiny of technology systems within its many businesses suggest technology will remain a central consideration for future investments.

The CEO emphasized that technology “will always be on the table” for Berkshire Hathaway.

Berkshire Hathaway, headquartered in Omaha, Nebraska, is one of the world’s largest conglomerates, with extensive holdings across sectors ranging from insurance to railroads and consumer goods.

Mini dictionary: Greg Abel, CEO of Berkshire Hathaway, succeeded Warren Buffett and oversees capital allocation, company operations, and investment decisions for the multinational conglomerate.