Berkshire Hathaway Cash Reserves Reach $377 Billion Amid Net Stock Selling
Following Warren Buffett's retirement at the end of 2025, Berkshire Hathaway has entered a new era under Greg Abel. The company's third-quarter operating results revealed a massive cash pile—including cash equivalents and U.S. Treasury bills—totaling $377.4 billion. This accumulation comes as leadership continues a trend of being net sellers of equity securities, marking the 15th time in the last 16 quarters that they have sold more stock than they purchased. The significant buildup of cash suggests that Berkshire's leadership is struggling to find attractive investment opportunities in a historically expensive market. With the 'Buffett indicator' (market-cap-to-GDP ratio) reaching record highs, the company appears to be prioritizing capital preservation over deployment, signaling a cautious outlook on current equity valuations.
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Topics: cash reserves earnings report leadership transition stock buybacks