Overview
- Warren Buffett will step down as CEO at year-end and remain chairman, with long-time executive Greg Abel set to take over on Jan. 1, 2026.
- An executive reshuffle is under way: Todd Combs is leaving for JPMorgan, CFO Marc Hamburg plans to retire in June 2027, Nancy Pierce was elevated to lead GEICO, Adam Johnson gained oversight of 32 consumer, service and retail units, and Berkshire named a new CFO and its first in-house general counsel.
- Berkshire has been a net seller of equities for multiple quarters and ended the third quarter with a record $381.7 billion in cash and short‑term investments, heavily in U.S. Treasury bills.
- Despite net selling, recent filings show selective buying, including a new 17.8 million‑share Alphabet Class A position worth roughly $4.3 billion, plus additions to Chubb, Domino’s Pizza, Sirius XM, Lamar Advertising and Lennar.
- Analysts and company watchers are weighing whether Abel’s tenure could bring greater tech exposure or potential shareholder payouts, framing these as possibilities rather than stated plans.