Berkshire Hathaway is sitting on $380.2 billion (about Rs 31.8 lakh crore) in cash. Investors looked for clues about how the Warren Buffett era would evolve under new chief executive Greg Abel.

For decades, the cash on Berkshire’s balance sheet was seen as Buffett’s insurance against market excesses and a war chest for once-firm deals. But with Buffett now stepping down after 60 years as CEO, that cash pile is Greg Abel’s first big test.

Opening the meeting, Abel made it clear that Berkshire’s operating philosophy would not change, according to Reuters.

“We have to be the best in many of Berkshire’s businesses. That has been our focus and will continue to be our focus,” he told shareholders.

Still, the spotlight remained firmly on Berkshire’s growing cash reserves, which rose from $373 billion at the end of 2025 to $380.2 billion in March, even after the company resumed stock buybacks for the first time since May 2024. Berkshire made purchases worth $234 million worth of its own quarter.

The cash build-up comes even as Berkshire posted stronger first-quarter earnings. Operating profit rose 18% to $11.35 billion, from $9.64 billion a year earlier, helped by strong insurance underwriting and broad-based gains across businesses. Net income, including investment gains, more than doubled to $10.1 billion.

Berkshire hasn’t done a deal big enough to materially move earnings in nearly a decade. Meanwhile, many of its traditional businesses, from retail to industrial operations, have seen lackluster growth, while technology-driven markets continue to dominate investor attention.

Buffett, now 95 and still chairman, briefly attended the meeting and gave a public vote of confidence in Abel.
“Greg is doing everything I did and then some,” Buffett told shareholders.

Buffett also used the occasion to praise Tim Cook, reminding investors how Berkshire’s original $35 billion investment in Apple grew to nearly $185 billion before taxes. But Apple-like opportunities on that scale are rare today, which is why Berkshire’s cash has become such a market obsession.

Adding to the pressure, Berkshire shares have underperformed the S&P 500 since Buffett announced last year that he would retire, raising expectations that Abel may eventually need to make bolder capital allocation calls.