Overview
- Warren Buffett steps down as Berkshire Hathaway CEO on December 31 and remains chairman, with Greg Abel taking over as chief executive on January 1.
- Berkshire has been a net seller of stocks for 12 straight quarters and holds a record cash reserve reported between roughly $358 billion and about $400 billion, largely in short‑term U.S. Treasuries.
- In late 2025 the portfolio was selectively rebalanced, with trims to Apple and Bank of America, an exit from Citigroup, a larger Occidental stake, and a newly disclosed $4.3 billion position in Alphabet as of September 30.
- Leadership and governance changes include Todd Combs’ departure to JPMorgan, the appointment of Berkshire’s first general counsel, CFO Marc Hamburg’s planned retirement in June 2027, and NetJets chief Adam Johnson taking a new divisional role overseeing more than 30 businesses.
- Analysts say the outsized cash hoard and extended net selling are signaling caution on market valuations, sharpening focus on how Abel will deploy or return capital at the $1 trillion conglomerate.