Berkshire Hathaway deploys $32 billion after three years of saving

After more than three years of hoarding cash, Berkshire Hathaway’s cash reserve is declining for the first time. The investment firm of the late Warren Buffett saw its cash position fall by $32 billion in the second quarter of 2026, from a record high of $397 billion to around $365 billion. The trigger is the aggressive investment strategy of new CEO Greg Abel.

In short:

• Berkshire Hathaway is reducing its record cash position for the first time in three years.
• CEO Greg Abel invests a net $19.8 billion in equities in the second quarter of 2026.
• The cash reserve falls from $397 billion to roughly $365 billion.

End of the cash-hoarding strategy

Berkshire Hathaway built up an ever-larger cash reserve over fourteen consecutive quarters. That approach was characteristic of the cautious course Buffett steered in a period of high equity valuations and economic uncertainty. The company skipped large acquisitions and investments, while parking most of the money in short-term US Treasury bills.

That is now changing under Abel’s leadership. In the second quarter of this year, he is investing a net $19.8 billion in equities, a clear shift in direction compared with his predecessor. It is the first real decline in the cash position in more than three years.

What does the chart say?

According to the company’s own figures, the cash position, measured as cash and government bonds minus an item for pending purchases, stood at around $100 billion at the start of 2022. After that, the reserve rose steadily to a record level of nearly $400 billion earlier this year. The decline in the most recent quarter is visible as a small but notable step back after years of uninterrupted growth.

Whether this marks the start of a structurally more active investment policy under Abel, or is merely a one-off move, remains unclear for now. Market watchers are looking with interest at the next quarterly figures to see whether the trend continues.