Berkshire Hathaway opened the Greg Abel era with a record-breaking cash position, disclosing in its first-quarter 2026 earnings release that its cash and equivalents climbed to $397.38 billion by March 31 — a figure that surpassed the prior peak of $373 billion held at the end of 2025. The Omaha-based conglomerate posted $11.35 billion in operating earnings for the period, a gain of nearly 18 percent compared to the $9.64 billion it earned in the first quarter of 2025.
Abel officially assumed the chief executive role on January 1, 2026, ending Warren Buffett’s six-decade run as the face of the company. Buffett, 95, now serves as chairman. The quarterly results represent the first formal financial accounting under the new leadership structure, and the numbers drew close attention from long-term shareholders who gathered in Omaha on May 2 for the annual meeting — an event that regularly draws tens of thousands of investors and is widely referenced as a Woodstock-style gathering for value investors.
The cash build was fueled largely by continued stock sales. Berkshire offloaded a net $8.1 billion of equity holdings during the quarter, extending what is now a 14-consecutive-quarter streak of net equity disposals. The company also bought back $234.2 million of its own shares, the first buyback activity in several quarters. Net income attributable to Berkshire shareholders came in at $10.1 billion, more than double the $4.6 billion recorded in the same period last year, though that figure was partially inflated by $5.8 billion in after-tax realized investment gains from security sales.
Among the operating units, BNSF Railway contributed $1.38 billion in earnings, a 13 percent year-over-year improvement driven by higher freight volumes. That figure carries direct relevance for South Carolina: BNSF operates freight routes that serve the state’s inland port and industrial corridor, connecting Upstate manufacturers and distributors to Gulf and West Coast terminals. For the manufacturing base concentrated around Spartanburg’s BMW plant, Michelin facilities, and the broader Greenville-Spartanburg industrial park, BNSF’s performance is a real-world indicator of freight demand in the supply chains those employers depend on.
The insurance segment posted $1.72 billion in underwriting earnings, a 29 percent increase from a year earlier when the unit was absorbing losses tied to California wildfire claims. Insurance investment income, largely generated by the company’s massive holding of U.S. Treasury bills, came in at $2.68 billion. Berkshire Hathaway Energy, which operates utilities across multiple states, added $1.11 billion in operating earnings.
For Upstate investors and financial advisors, the sheer scale of the cash position raises a question that has become a recurring theme at Berkshire shareholder meetings: what does Abel plan to do with the money? Berkshire’s own earnings release, filed with the SEC, does not signal an imminent large acquisition. Abel indicated at the Omaha meeting that he intends to focus on understanding and operating the existing businesses before looking externally, and that future capital deployment will follow the same discipline Buffett established — patient accumulation until a compelling opportunity arises at the right price.
That posture has practical meaning for small-business owners and independent investors in the Spartanburg market. Berkshire’s vast cash reserve, parked primarily in short-term Treasuries, reflects a bet that current valuations in public equity and private markets do not justify aggressive deployment. When the country’s most closely watched value investor chooses to hold rather than buy, it sends a signal about asset pricing that financial planners across the Upstate hear regularly from clients trying to decide whether to put capital to work or stay in cash themselves.
Berkshire’s manufacturing, service, and retailing segment — which includes brands such as Marmon Group subsidiaries and Forest River RV, companies with facilities and supplier relationships across South Carolina — generated $3.20 billion in operating earnings, up from $3.06 billion a year ago. Forest River, a leading recreational vehicle manufacturer under the Berkshire umbrella, maintains sales and distribution activity in South Carolina through its dealer network, making its parent company’s financial health directly relevant to dealerships and related businesses in the state.
Berkshire Hathaway’s shares trade on the New York Stock Exchange under the symbols BRK.A and BRK.B. The company’s full 10-Q filing for the first quarter of 2026 was posted to its website on the morning of May 2.
