Berkshire Hathaway Reduces Cash Reserves by $31 Billion in Q2
In the second quarter of fiscal year 2024, Berkshire Hathaway reduced its cash reserves from $397 billion to $366 billion. The conglomerate deployed a portion of this capital into new and expanded equity investments, including significant purchases of Alphabet shares, which now make it Berkshire's third-largest holding after American Express. Other notable moves included expanding stakes in Delta Air Lines and Macy’s, as well as initiating share buybacks worth $4.5 billion—marking the end of a six-quarter pause in repurchases. While these investments reflect increased activity from CEO Greg Abel under Warren Buffett’s guidance, Berkshire still maintains over $360 billion in liquidity. The company also sold equity holdings for approximately $3.7 billion during the quarter and continued to fund its privately owned businesses like GEICO and Clayton Homes.
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