Berkshire Hathaway's $373 Billion Liquidity Signals a Shift to Internal Investment

Berkshire Hathaway restarted share repurchases in March 2026, ending a nearly two-year pause that had lasted since May 2024. The decision follows a period where Berkshire shares traded below intrinsic value. The company's liquidity reached $373 billion, amassed as Berkshire remained a net seller of equities for 13 straight quarters through the end of 2025. To build this hoard, Berkshire sold more than 75% of its Apple stake since mid-2023 and reduced its Bank of America stake by roughly 50% between mid-2024 and the end of 2025. In the fourth quarter of 2025, the company reduced its Amazon shares from 10 million to 2.3 million. Berkshire also fully exited its Citigroup stake in early 2025 and its Nu Holdings stake in Q1 2025. Former CEO Warren Buffett, who retired on January 1, 2026, approved the move to resume buybacks. New CEO Greg Abel personally bought more than $15 million of Berkshire stock.