Source: Fortune
Summary
Berkshire Hathaway increased its holdings in Delta Air Lines and Alphabet under CEO Greg Abel, adding 17.5 million Delta shares and 48.1 million Alphabet shares. The company also spent $4.5 billion on stock repurchases and added $20 billion in other equities. Berkshire’s cash reserves decreased to $365.5 billion at midyear. Abel oversaw multibillion-dollar transactions, including a $6.8 billion deal to buy Taylor Morrison Home and a $10 billion investment in Alphabet’s AI-related projects.
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The strategy enters a familiar phase.
Greg Abel is tapping into Berkshire’s massive cash hoard, increasing stakes in Delta and Alphabet. The company is also making value bets, such as the $6.8 billion Taylor Morrison Home deal. Berkshire’s cash reserves are decreasing, but still substantial at $365.5 billion. Abel’s deal-making activity is a departure from Warren Buffett’s more subdued approach.
One thing is clear: Berkshire’s cash pile is no longer a sacred cow.
Author: Evan Null
